Reynders McVeigh Capital Management LLC Cuts Stake in Tyler Technologies, Inc. (NYSE:TYL)

Reynders McVeigh Capital Management LLC decreased its stake in Tyler Technologies, Inc. (NYSE:TYL) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,025 shares of the technology company’s stock after selling 100 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in Tyler Technologies were worth $2,898,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Synovus Financial Corp boosted its holdings in Tyler Technologies by 2.0% in the fourth quarter. Synovus Financial Corp now owns 6,192 shares of the technology company’s stock valued at $3,571,000 after purchasing an additional 121 shares during the last quarter. Next Century Growth Investors LLC acquired a new stake in shares of Tyler Technologies during the fourth quarter worth approximately $1,980,000. Qtron Investments LLC bought a new stake in shares of Tyler Technologies in the fourth quarter worth $257,000. Sterling Capital Management LLC raised its holdings in Tyler Technologies by 7.0% in the fourth quarter. Sterling Capital Management LLC now owns 962 shares of the technology company’s stock valued at $555,000 after acquiring an additional 63 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in Tyler Technologies by 1.4% in the fourth quarter. Treasurer of the State of North Carolina now owns 26,649 shares of the technology company’s stock valued at $15,367,000 after acquiring an additional 372 shares in the last quarter. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TYL shares. Truist Financial reaffirmed a “buy” rating and set a $775.00 price target (up previously from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. The Goldman Sachs Group lifted their target price on Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. StockNews.com lowered Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Friday. 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. Finally, Barclays raised their price target on shares of Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $676.25.

Insider Activity

In other Tyler Technologies news, CFO Brian K. Miller sold 1,550 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $613.58, for a total value 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 represents a 9.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $617.59, for a total transaction 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 $46,772,561.06. This represents a 7.92 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,064 shares of company stock worth $8,688,030. 2.20% of the stock is owned by company insiders.

Tyler Technologies Stock Up 1.9 %

TYL opened at $568.42 on Friday. The stock’s 50 day moving average price is $590.08 and its 200 day moving average price is $595.48. 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 cap of $24.50 billion, a P/E ratio of 93.80, a P/E/G ratio of 4.93 and a beta of 0.84. Tyler Technologies, Inc. has a 12 month low of $397.80 and a 12 month high of $661.31.

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

Tyler Technologies 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.