CIBC Asset Management Inc Has $1.90 Million Stake in Tyler Technologies, Inc. (NYSE:TYL)

Posted by Defense World Staff on Jun 11th, 2023

CIBC Asset Management Inc increased its stake in Tyler Technologies, Inc. (NYSE:TYL – Get Rating) by 7.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,879 shares of the technology company’s stock after purchasing an additional 417 shares during the period. CIBC Asset Management Inc’s holdings in Tyler Technologies were worth $1,895,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Tyler Technologies by 1.0% during the third quarter. Vanguard Group Inc. now owns 4,709,195 shares of the technology company’s stock worth $1,636,445,000 after buying an additional 46,542 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Tyler Technologies by 4.2% in the 4th quarter. Franklin Resources Inc. now owns 1,098,670 shares of the technology company’s stock valued at $354,222,000 after purchasing an additional 44,261 shares during the period. Geode Capital Management LLC grew its holdings in Tyler Technologies by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 876,951 shares of the technology company’s stock worth $282,298,000 after purchasing an additional 23,739 shares during the period. Invesco Ltd. increased its position in Tyler Technologies by 15.3% during the first quarter. Invesco Ltd. now owns 762,769 shares of the technology company’s stock worth $339,347,000 after buying an additional 101,365 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its stake in shares of Tyler Technologies by 27.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 750,464 shares of the technology company’s stock worth $241,957,000 after acquiring an additional 159,618 shares during the period. Institutional investors own 89.45% of the company’s stock.

Insider Buying and Selling

In other Tyler Technologies news, CFO Brian K. Miller sold 838 shares of the firm’s stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $326.37, for a total value of $273,498.06. Following the completion of the sale, the chief financial officer now directly owns 18,456 shares of the company’s stock, valued at $6,023,484.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Brian K. Miller sold 838 shares of the company’s stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $326.37, for a total transaction of $273,498.06. Following the sale, the chief financial officer now owns 18,456 shares of the company’s stock, valued at approximately $6,023,484.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman John S. Marr, Jr. sold 7,000 shares of the firm’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $392.78, for a total transaction of $2,749,460.00. Following the completion of the transaction, the chairman now directly owns 39,138 shares of the company’s stock, valued at $15,372,623.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,743 shares of company stock worth $8,617,334. 2.20% of the stock is owned by company insiders.

Tyler Technologies Stock Performance

Shares of TYL stock opened at $388.67 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.31. Tyler Technologies, Inc. has a 52 week low of $281.11 and a 52 week high of $425.80. The firm has a 50 day moving average of $380.58 and a 200-day moving average of $344.80. The company has a market cap of $16.29 billion, a price-to-earnings ratio of 106.19 and a beta of 0.83.

Tyler Technologies (NYSE:TYL – Get Rating) last announced its quarterly earnings results on Wednesday, April 26th. The technology company reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.01). The business had revenue of $471.85 million for the quarter, compared to the consensus estimate of $473.66 million. Tyler Technologies had a net margin of 8.31% and a return on equity of 9.02%. On average, equities analysts forecast that Tyler Technologies, Inc. will post 5.6 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. JMP Securities cut their target price on shares of Tyler Technologies from $465.00 to $415.00 in a research note on Friday, February 17th. StockNews.com assumed coverage on Tyler Technologies in a report on Thursday, May 18th. They set a “hold” rating for the company. Robert W. Baird boosted their target price on shares of Tyler Technologies from $440.00 to $470.00 and gave the company an “outperform” rating in a research report on Friday, April 28th. Piper Sandler increased their target price on Tyler Technologies from $450.00 to $465.00 in a report on Friday, April 28th. Finally, Credit Suisse Group boosted their target price on shares of Tyler Technologies from $370.00 to $376.00 in a research report on Monday, May 1st. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $435.38.

Tyler Technologies Profile

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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.