Norway Savings Bank Has $1.66 Million Stake in Tyler Technologies, Inc. (NYSE:TYL)

Norway Savings Bank boosted its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 7.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,989 shares of the technology company’s stock after acquiring an additional 265 shares during the period. Norway Savings Bank’s holdings in Tyler Technologies were worth $1,661,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TYL. American Century Companies Inc. increased its holdings in shares of Tyler Technologies by 13.1% during the 1st quarter. American Century Companies Inc. now owns 1,328 shares of the technology company’s stock worth $591,000 after purchasing an additional 154 shares during the period. Panagora Asset Management Inc. increased its holdings in shares of Tyler Technologies by 69.1% during the 1st quarter. Panagora Asset Management Inc. now owns 2,431 shares of the technology company’s stock worth $1,082,000 after purchasing an additional 993 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Tyler Technologies by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,483 shares of the technology company’s stock worth $2,439,000 after purchasing an additional 340 shares during the period. Raymond James Trust N.A. increased its holdings in shares of Tyler Technologies by 4.3% during the 1st quarter. Raymond James Trust N.A. now owns 1,047 shares of the technology company’s stock worth $466,000 after purchasing an additional 43 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Tyler Technologies by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 118,419 shares of the technology company’s stock worth $52,683,000 after purchasing an additional 934 shares during the period. Institutional investors and hedge funds own 91.28% of the company’s stock.

Tyler Technologies Price Performance

Shares of TYL stock traded down $6.04 during trading hours on Friday, reaching $375.38. 439,416 shares of the company were exchanged, compared to its average volume of 146,348. Tyler Technologies, Inc. has a fifty-two week low of $281.11 and a fifty-two week high of $426.83. The stock’s fifty day moving average is $392.26 and its two-hundred day moving average is $379.10. The company has a market cap of $15.80 billion, a price-to-earnings ratio of 97.00 and a beta of 0.81. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 1.00.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, July 26th. The technology company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.17. Tyler Technologies had a net margin of 8.64% and a return on equity of 8.94%. The company had revenue of $504.28 million for the quarter, compared to analyst estimates of $490.65 million. Sell-side analysts forecast that Tyler Technologies, Inc. will post 5.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TYL has been the topic of several research reports. DA Davidson boosted their price objective on shares of Tyler Technologies from $395.00 to $412.00 in a report on Wednesday, July 19th. JPMorgan Chase & Co. assumed coverage on shares of Tyler Technologies in a research note on Wednesday, June 21st. They issued an “overweight” rating and a $472.00 target price on the stock. Robert W. Baird upped their target price on shares of Tyler Technologies from $470.00 to $475.00 in a research note on Friday, July 28th. Needham & Company LLC reissued a “buy” rating and issued a $475.00 target price on shares of Tyler Technologies in a research note on Thursday, July 27th. Finally, StockNews.com assumed coverage on shares of Tyler Technologies in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $440.29.

Insider Transactions at Tyler Technologies

In other news, CEO H Lynn Moore, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $396.59, for a total transaction of $1,982,950.00. Following the transaction, the chief executive officer now directly owns 80,000 shares in the company, valued at $31,727,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO H Lynn Moore, Jr. sold 5,000 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $396.59, for a total value of $1,982,950.00. Following the transaction, the chief executive officer now directly owns 80,000 shares in the company, valued at $31,727,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dustin R. Womble sold 2,111 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $396.87, for a total transaction of $837,792.57. Following the completion of the transaction, the director now owns 12,805 shares in the company, valued at $5,081,920.35. The disclosure for this sale can be found here. 2.20% of the stock is owned by company insiders.

About Tyler Technologies

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. It operates in two segments, Enterprise Software, and Platform Technologies. The company offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; student information and transportation solutions for K-12 schools; and financial management systems.