Prudential Financial Inc. Sells 2,562 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Prudential Financial Inc. trimmed its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 10.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,951 shares of the technology company’s stock after selling 2,562 shares during the period. Prudential Financial Inc. owned approximately 0.05% of Tyler Technologies worth $13,234,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund lifted its position in shares of Tyler Technologies by 0.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,668 shares of the technology company’s stock worth $2,115,000 after purchasing an additional 20 shares during the last quarter. Kensington Investment Counsel LLC increased its position in Tyler Technologies by 0.8% in the 4th quarter. Kensington Investment Counsel LLC now owns 2,496 shares of the technology company’s stock worth $1,439,000 after buying an additional 20 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Tyler Technologies by 18.4% during the fourth 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 during the last quarter. Baron Wealth Management LLC boosted its position in shares of Tyler Technologies by 1.5% in the fourth 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 during the period. Finally, Choreo LLC grew its stake in shares of Tyler Technologies by 3.9% in the fourth quarter. Choreo LLC now owns 647 shares of the technology company’s stock worth $374,000 after acquiring an additional 24 shares during the last quarter. 93.30% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Brian K. Miller sold 1,550 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $613.58, for a total transaction of $951,049.00. Following the sale, the chief financial officer now directly owns 14,026 shares in the company, valued at $8,606,073.08. This represents a 9.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of Tyler Technologies stock in a transaction on Wednesday, February 26th. The shares were 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 owns 75,734 shares of the company’s stock, valued at approximately $46,772,561.06. The trade was a 7.92 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,064 shares of company stock valued at $8,688,030. 2.20% of the stock is currently owned by insiders.

Tyler Technologies Price Performance

Shares of TYL stock opened at $578.46 on Friday. The stock’s fifty day simple moving average is $599.55 and its 200 day simple moving average is $597.69. Tyler Technologies, Inc. has a one year low of $397.80 and a one year high of $661.31. The firm has a market cap of $24.94 billion, a price-to-earnings ratio of 95.46, a P/E/G ratio of 4.93 and a beta of 0.80. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21.

Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, February 12th. The technology company reported $1.87 EPS 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%. On average, analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TYL has been the subject of several research analyst reports. DA Davidson reiterated a “neutral” rating and set a $575.00 target price on shares of Tyler Technologies in a research note on Thursday, January 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $700.00 price objective on shares of Tyler Technologies in a research report on Tuesday, January 21st. Barclays increased their target price on shares of Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Truist Financial restated a “buy” rating and set a $775.00 price target (up from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $615.00 price objective (down previously from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $676.25.

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.