Empire Life Investments Inc. Reduces Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Empire Life Investments Inc. decreased its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 8.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 54,751 shares of the technology company’s stock after selling 4,939 shares during the period. Tyler Technologies makes up approximately 2.0% of Empire Life Investments Inc.’s investment portfolio, making the stock its 13th largest holding. Empire Life Investments Inc. owned 0.13% of Tyler Technologies worth $31,572,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Tyler Technologies during the third quarter worth about $27,000. Quarry LP purchased a new stake in Tyler Technologies in the third quarter valued at approximately $78,000. MassMutual Private Wealth & Trust FSB boosted its position in Tyler Technologies by 18.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the technology company’s stock valued at $78,000 after buying an additional 21 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Tyler Technologies in the third quarter valued at approximately $79,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Tyler Technologies in the third quarter valued at approximately $82,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Stock Performance

NYSE TYL opened at $642.39 on Friday. The stock has a market cap of $27.49 billion, a PE ratio of 117.22, a P/E/G ratio of 4.78 and a beta of 0.78. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies, Inc. has a twelve month low of $397.80 and a twelve month high of $661.31. The stock has a fifty day simple moving average of $596.21 and a 200-day simple moving average of $594.15.

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 analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. Equities analysts anticipate that Tyler Technologies, Inc. will post 7.36 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on TYL. StockNews.com raised Tyler Technologies from a “hold” rating to a “buy” rating in a report on Friday. Barclays boosted their price target on Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a report on Friday. JMP Securities upped their target price on Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research note on Friday, October 25th. Oppenheimer upped their target price on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $700.00 target price on shares of Tyler Technologies in a research note on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $656.92.

Insider Activity at Tyler Technologies

In related news, insider John S. Marr, Jr. sold 12,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the completion of the transaction, the insider now directly owns 6,983 shares in the company, valued at $4,285,187.78. This trade represents a 63.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brian K. Miller sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $632.01, for a total value of $1,580,025.00. Following the transaction, the chief financial officer now owns 12,198 shares of the company’s stock, valued at $7,709,257.98. This trade represents a 17.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock worth $18,941,368 in the last three months. 2.20% of the stock is owned by company insiders.

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.