Motley Fool Asset Management LLC Cuts Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Motley Fool Asset Management LLC lowered its stake in Tyler Technologies, Inc. (NYSE:TYL) by 29.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,603 shares of the technology company’s stock after selling 6,074 shares during the period. Motley Fool Asset Management LLC’s holdings in Tyler Technologies were worth $8,421,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank purchased a new position in Tyler Technologies in the 4th quarter worth approximately $528,465,000. Van ECK Associates Corp grew its holdings 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 last quarter. Raymond James Financial Inc. purchased a new position in shares of Tyler Technologies in the fourth quarter worth $159,947,000. JPMorgan Chase & Co. raised its stake in shares of Tyler Technologies by 148.2% during the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock valued at $269,369,000 after acquiring an additional 275,511 shares during the last quarter. Finally, Seilern Investment Management Ltd bought a new position in Tyler Technologies during the 4th quarter valued at approximately $105,549,000. Institutional investors own 93.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Piper Sandler lifted their price target on shares of Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a report on Friday, February 14th. The Goldman Sachs Group increased their price target on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Truist Financial reaffirmed a “buy” rating and set a $775.00 price objective (up from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Barclays increased their target price on Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $615.00 price target (down 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 given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $676.25.

Tyler Technologies Trading Down 0.4 %

Tyler Technologies stock opened at $582.38 on Thursday. Tyler Technologies, Inc. has a one year low of $397.80 and a one year high of $661.31. The business’s fifty day moving average is $599.91 and its 200 day moving average is $597.61. 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 stock has a market capitalization of $25.10 billion, a PE ratio of 96.10, a price-to-earnings-growth ratio of 4.93 and a beta of 0.80.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, sell-side analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Insider Buying and Selling

In other news, insider John S. Marr, Jr. sold 6,000 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the completion of the sale, the insider now owns 6,983 shares of the company’s stock, valued at $4,322,477. The trade was a 46.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was 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 directly owns 75,734 shares in the company, valued at approximately $46,772,561.06. This represents a 7.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,064 shares of company stock valued at $8,688,030. 2.20% of the stock is 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.