Red Spruce Capital LLC Sells 119 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Red Spruce Capital LLC decreased its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 11.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 967 shares of the technology company’s stock after selling 119 shares during the quarter. Red Spruce Capital LLC’s holdings in Tyler Technologies were worth $558,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. APG Asset Management N.V. raised its position in shares of Tyler Technologies by 1.4% in the 2nd quarter. APG Asset Management N.V. now owns 1,507,062 shares of the technology company’s stock worth $706,994,000 after acquiring an additional 20,842 shares in the last quarter. Geode Capital Management LLC raised its holdings in Tyler Technologies by 2.2% in the third quarter. Geode Capital Management LLC now owns 1,108,908 shares of the technology company’s stock worth $645,585,000 after purchasing an additional 24,284 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Tyler Technologies by 2.0% during the third quarter. Franklin Resources Inc. now owns 912,746 shares of the technology company’s stock valued at $547,354,000 after buying an additional 17,943 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Tyler Technologies by 4.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 904,175 shares of the technology company’s stock valued at $527,785,000 after buying an additional 36,066 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Tyler Technologies by 148.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock worth $269,369,000 after buying an additional 275,511 shares during the last quarter. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TYL. StockNews.com cut shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Wells Fargo & Company reiterated an “equal weight” rating and set a $615.00 price objective (down previously from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. DA Davidson boosted their target price on Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Piper Sandler increased their price target on Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $700.00 price target on shares of Tyler Technologies in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $643.77.

Tyler Technologies Stock Up 2.7 %

NYSE:TYL opened at $584.69 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. The company’s fifty day moving average price is $599.03 and its 200-day moving average price is $585.05. Tyler Technologies, Inc. has a 1-year low of $397.80 and a 1-year high of $638.56. The firm has a market capitalization of $25.02 billion, a P/E ratio of 106.70, a PEG ratio of 4.42 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.09. The company had revenue of $543.34 million for the quarter, compared to the consensus estimate of $547.34 million. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the firm earned $1.66 EPS. As a group, equities research analysts anticipate that Tyler Technologies, Inc. will post 7.36 EPS for the current year.

Insider Buying and Selling

In other news, CFO Brian K. Miller sold 6,752 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $613.75, for a total value of $4,144,040.00. Following the completion of the sale, the chief financial officer now directly owns 11,918 shares in the company, valued at $7,314,672.50. The trade was a 36.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $605.82, for a total transaction of $3,786,375.00. Following the transaction, the chief executive officer now owns 75,000 shares in the company, valued at $45,436,500. The trade was a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,252 shares of company stock valued at $26,096,928 over the last ninety days. Company insiders own 1.50% of the company’s stock.

About Tyler Technologies

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.