Tsai Capital Corp Trims Stake in Tyler Technologies, Inc. (NYSE:TYL)

Tsai Capital Corp reduced its stake in Tyler Technologies, Inc. (NYSE:TYL) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,729 shares of the technology company’s stock after selling 95 shares during the quarter. Tyler Technologies makes up approximately 2.4% of Tsai Capital Corp’s investment portfolio, making the stock its 15th biggest position. Tsai Capital Corp’s holdings in Tyler Technologies were worth $3,304,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of TYL. Norges Bank bought a new position in shares of Tyler Technologies during the 4th quarter valued at approximately $528,465,000. Van ECK Associates Corp boosted its position in shares of Tyler Technologies by 1,991.8% in the fourth quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock worth $317,486,000 after purchasing an additional 524,259 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Tyler Technologies in the fourth quarter worth $159,947,000. JPMorgan Chase & Co. raised its position in shares of Tyler Technologies by 148.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock valued at $269,369,000 after purchasing an additional 275,511 shares during the period. Finally, Seilern Investment Management Ltd purchased a new position in shares of Tyler Technologies during the 4th quarter valued at $105,549,000. Institutional investors own 93.30% of the company’s stock.

Tyler Technologies Trading Up 0.2 %

Shares of NYSE TYL opened at $579.39 on Friday. Tyler Technologies, Inc. has a 1-year low of $397.80 and a 1-year high of $661.31. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21. The business’s 50 day moving average is $599.76 and its two-hundred day moving average is $597.62. The stock has a market capitalization of $24.98 billion, a P/E ratio of 95.61, a PEG ratio of 4.93 and a beta of 0.80.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TYL shares. DA Davidson reiterated a “neutral” rating and issued a $575.00 price target on shares of Tyler Technologies in a research note on Thursday, January 30th. Piper Sandler lifted their target price on Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Barclays upped their price target on Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. StockNews.com cut shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Monday, February 24th. Finally, The Goldman Sachs Group upped their target price on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tyler Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $676.25.

Insider Transactions at Tyler Technologies

In related news, CFO Brian K. Miller sold 1,550 shares of the firm’s 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 completion of the sale, the chief financial officer now directly owns 14,026 shares of the company’s stock, valued at approximately $8,606,073.08. This trade represents a 9.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John S. Marr, Jr. sold 6,000 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $619.00, for a total value of $3,714,000.00. Following the completion of the transaction, the insider now directly owns 6,983 shares in the company, valued at $4,322,477. This trade represents a 46.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,064 shares of company stock worth $8,688,030. 2.20% of the stock is currently owned by 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.