Maryland State Retirement & Pension System Sells 159 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Maryland State Retirement & Pension System lessened its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 6.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,263 shares of the technology company’s stock after selling 159 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Tyler Technologies were worth $1,305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in Tyler Technologies by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,108,908 shares of the technology company’s stock valued at $645,585,000 after purchasing an additional 24,284 shares during the period. Franklin Resources Inc. grew its stake in Tyler Technologies by 2.0% in the 3rd quarter. Franklin Resources Inc. now owns 912,746 shares of the technology company’s stock valued at $547,354,000 after purchasing an additional 17,943 shares during the period. Van ECK Associates Corp grew its stake in Tyler Technologies by 1,991.8% in the 4th quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock valued at $317,486,000 after purchasing an additional 524,259 shares during the period. JPMorgan Chase & Co. grew its stake in Tyler Technologies by 148.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock valued at $269,369,000 after purchasing an additional 275,511 shares during the period. Finally, Swedbank AB grew its stake in shares of Tyler Technologies by 1.7% during the 4th quarter. Swedbank AB now owns 459,850 shares of the technology company’s stock worth $265,168,000 after acquiring an additional 7,838 shares during the period. Institutional investors own 93.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TYL. StockNews.com downgraded Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Monday, February 24th. Piper Sandler increased their price target on Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Barclays increased their price target on Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Wells Fargo & Company reiterated an “equal weight” rating and set a $615.00 price target (down previously from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $700.00 price target on shares of Tyler Technologies in a research note on Tuesday, January 21st. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $676.25.

Tyler Technologies Stock Performance

NYSE:TYL opened at $566.56 on Friday. The business’s 50-day moving average price is $598.88 and its two-hundred day moving average price is $597.94. Tyler Technologies, Inc. has a twelve month low of $397.80 and a twelve month high of $661.31. The stock has a market cap of $24.42 billion, a P/E ratio of 93.49, a PEG ratio of 4.93 and a beta of 0.80. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. As a group, equities analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Insider Buying and Selling at Tyler Technologies

In related news, CFO Brian K. Miller sold 1,550 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $613.58, for a total transaction of $951,049.00. Following the transaction, the chief financial officer now directly owns 14,026 shares of the company’s stock, valued at approximately $8,606,073.08. This trade represents a 9.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $619.00, for a total value of $3,714,000.00. Following the transaction, the insider now directly owns 6,983 shares in the company, valued at approximately $4,322,477. This represents a 46.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,064 shares of company stock valued at $8,688,030 in the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Tyler Technologies Company 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.