Commerce Bank Sells 304 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Commerce Bank reduced its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 3.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,491 shares of the technology company’s stock after selling 304 shares during the quarter. Commerce Bank’s holdings in Tyler Technologies were worth $4,320,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Tyler Technologies by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 5,310,401 shares of the technology company’s stock worth $3,062,190,000 after acquiring an additional 62,420 shares during the period. Geode Capital Management LLC lifted its position in shares of Tyler Technologies by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 1,136,734 shares of the technology company’s stock worth $654,406,000 after purchasing an additional 27,826 shares during the period. Franklin Resources Inc. boosted its stake in shares of Tyler Technologies by 7.9% during the 4th quarter. Franklin Resources Inc. now owns 984,615 shares of the technology company’s stock valued at $567,768,000 after purchasing an additional 71,869 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Tyler Technologies by 3.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 939,373 shares of the technology company’s stock valued at $541,680,000 after buying an additional 35,198 shares during the period. Finally, Norges Bank bought a new position in Tyler Technologies in the fourth quarter worth about $528,465,000. 93.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TYL shares. Barclays cut their price objective on Tyler Technologies from $715.00 to $700.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Piper Sandler upped 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. The Goldman Sachs Group raised their price objective on Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. StockNews.com cut shares of Tyler Technologies from a “buy” rating to a “hold” rating in a report on Friday, April 11th. Finally, DA Davidson reissued a “neutral” rating and set a $575.00 price target on shares of Tyler Technologies in a research report on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $675.00.

Insider Buying and Selling

In other news, CEO H Lynn Moore, Jr. sold 6,514 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the sale, the chief executive officer now owns 75,734 shares of the company’s stock, valued at $46,772,561.06. This trade represents a 7.92 % 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 1,550 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were 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 $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. In the last ninety days, insiders sold 14,064 shares of company stock worth $8,688,030. 1.10% of the stock is owned by corporate insiders.

Tyler Technologies Price Performance

Shares of TYL opened at $570.61 on Monday. Tyler Technologies, Inc. has a twelve month low of $403.65 and a twelve month high of $661.31. The company has a market capitalization of $24.60 billion, a P/E ratio of 94.16, a price-to-earnings-growth ratio of 4.93 and a beta of 0.84. The firm has a 50 day moving average of $586.11 and a 200 day moving average of $595.29. 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 posted its earnings results on Wednesday, February 12th. The technology company reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. As a group, equities research analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

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.