State of Tennessee Department of Treasury Sells 3,673 Shares of Tyler Technologies, Inc. (NYSE:TYL)

State of Tennessee Department of Treasury lessened its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 23.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 12,264 shares of the technology company’s stock after selling 3,673 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Tyler Technologies were worth $7,072,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund raised its position in shares of Tyler Technologies by 0.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,668 shares of the technology company’s stock worth $2,115,000 after acquiring an additional 20 shares in the last quarter. Kensington Investment Counsel LLC lifted its stake in Tyler Technologies by 0.8% in the fourth quarter. Kensington Investment Counsel LLC now owns 2,496 shares of the technology company’s stock valued at $1,439,000 after buying an additional 20 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Tyler Technologies by 18.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the technology company’s stock worth $78,000 after buying an additional 21 shares in the last quarter. Baron Wealth Management LLC increased its stake in shares of Tyler Technologies by 1.5% in the 4th quarter. Baron Wealth Management LLC now owns 1,487 shares of the technology company’s stock valued at $857,000 after acquiring an additional 22 shares in the last quarter. Finally, Choreo LLC lifted its position in shares of Tyler Technologies by 3.9% during the 4th quarter. Choreo LLC now owns 647 shares of the technology company’s stock valued at $374,000 after acquiring an additional 24 shares during the period. Institutional investors own 93.30% of the company’s stock.

Insiders Place Their Bets

In other news, CEO H Lynn Moore, Jr. sold 6,514 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $617.59, for a total value of $4,022,981.26. Following the completion of the transaction, the chief executive officer now directly owns 75,734 shares of the company’s stock, valued at $46,772,561.06. This trade represents a 7.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian K. Miller sold 1,550 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $613.58, for a total value of $951,049.00. Following the sale, the chief financial officer now owns 14,026 shares in the company, valued at approximately $8,606,073.08. The trade was a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,064 shares of company stock valued at $8,688,030. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on TYL. Barclays decreased their price target on shares of Tyler Technologies from $715.00 to $700.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. StockNews.com raised Tyler Technologies from a “hold” rating to a “buy” rating in a research note on Thursday. Piper Sandler raised their price objective on Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Wells Fargo & Company lowered their target price on Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, The Goldman Sachs Group lifted their price target on shares of Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $678.75.

Tyler Technologies Price Performance

Tyler Technologies stock opened at $530.35 on Friday. The stock has a market cap of $22.86 billion, a P/E ratio of 87.52, a P/E/G ratio of 4.93 and a beta of 0.84. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. The company’s 50 day moving average price is $579.67 and its two-hundred day moving average price is $594.40. Tyler Technologies, Inc. has a 52 week low of $435.03 and a 52 week high of $661.31.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.22. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The business had revenue of $562.43 million for the quarter, compared to analysts’ expectations of $556.45 million. During the same quarter in the previous year, the firm earned $2.20 earnings per share. On average, equities analysts predict that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

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.