Principal Financial Group Inc. Trims Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Principal Financial Group Inc. decreased its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 1.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,291,812 shares of the technology company’s stock after selling 18,915 shares during the quarter. Principal Financial Group Inc.’s holdings in Tyler Technologies were worth $754,057,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bessemer Group Inc. raised its position in Tyler Technologies by 39.4% in the 1st quarter. Bessemer Group Inc. now owns 6,840 shares of the technology company’s stock valued at $2,906,000 after purchasing an additional 1,935 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in Tyler Technologies by 7.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 46,724 shares of the technology company’s stock valued at $19,858,000 after purchasing an additional 3,198 shares during the last quarter. Natixis raised its position in Tyler Technologies by 114.0% in the 1st quarter. Natixis now owns 2,253 shares of the technology company’s stock valued at $958,000 after purchasing an additional 1,200 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in Tyler Technologies by 143.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,794 shares of the technology company’s stock valued at $762,000 after purchasing an additional 1,058 shares during the last quarter. Finally, Tidal Investments LLC raised its position in Tyler Technologies by 64.8% in the 1st quarter. Tidal Investments LLC now owns 2,953 shares of the technology company’s stock valued at $1,253,000 after purchasing an additional 1,161 shares during the last quarter. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Insider Transactions at Tyler Technologies

In other news, CEO H Lynn Moore, Jr. sold 5,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $590.98, for a total transaction of $2,954,900.00. Following the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at $44,323,500. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Brian K. Miller sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $586.97, for a total value of $1,467,425.00. Following the transaction, the chief financial officer now owns 11,950 shares in the company, valued at approximately $7,014,291.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $590.98, for a total transaction of $2,954,900.00. Following the completion of the transaction, the chief executive officer now owns 75,000 shares in the company, valued at $44,323,500. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,850 shares of company stock worth $12,151,735 in the last three months. Company insiders own 1.50% of the company’s stock.

Tyler Technologies Price Performance

Tyler Technologies stock opened at $603.20 on Thursday. Tyler Technologies, Inc. has a 12-month low of $397.80 and a 12-month high of $631.43. The stock has a market capitalization of $25.82 billion, a P/E ratio of 110.07, a P/E/G ratio of 5.42 and a beta of 0.77. The firm’s 50-day moving average is $589.67 and its two-hundred day moving average is $538.62. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.09. The company had revenue of $543.34 million for the quarter, compared to analysts’ expectations of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $1.66 EPS. Equities analysts predict that Tyler Technologies, Inc. will post 7.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TYL shares. StockNews.com downgraded shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Monday. Oppenheimer upped their price objective on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. JMP Securities upped their price objective on shares of Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research report on Friday, October 25th. DA Davidson upped their price objective on shares of Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $627.00 price objective on shares of Tyler Technologies in a research report on Friday, September 13th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $642.62.

Tyler Technologies Profile

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 platform and transformative technology solutions, including cybersecurity for government agencies; data and insights solutions; digital solutions that helps workers and policymakers to share, communicate, and leverage data; payments solutions, such as billing, presentment, merchant onboarding, collections, reconciliation, and disbursements; platform technologies, an application development platform that enables government workers to build solutions and applications; and outdoor recreation solutions, including campsite reservations, activity registrations, licensing sales and renewals, and real-time data for conservation and park management.