Tyler Technologies, Inc. (NYSE:TYL) Position Trimmed by Procyon Advisors LLC

Procyon Advisors LLC decreased its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 8.5% in the 3rd quarter, Holdings Channel reports. The firm owned 2,334 shares of the technology company’s stock after selling 217 shares during the quarter. Procyon Advisors LLC’s holdings in Tyler Technologies were worth $1,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC increased its stake in Tyler Technologies by 119.2% during the first quarter. Commonwealth Equity Services LLC now owns 6,517 shares of the technology company’s stock valued at $2,770,000 after purchasing an additional 3,544 shares during the last quarter. Bessemer Group Inc. increased its stake in Tyler Technologies by 39.4% during the first quarter. Bessemer Group Inc. now owns 6,840 shares of the technology company’s stock valued at $2,906,000 after purchasing an additional 1,935 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in Tyler Technologies by 7.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 46,724 shares of the technology company’s stock valued at $19,858,000 after purchasing an additional 3,198 shares during the last quarter. Natixis boosted its holdings in shares of Tyler Technologies by 114.0% during the first quarter. Natixis now owns 2,253 shares of the technology company’s stock valued at $958,000 after acquiring an additional 1,200 shares during the period. Finally, BNP Paribas acquired a new position in shares of Tyler Technologies during the first quarter valued at $1,048,000. Institutional investors own 93.30% of the company’s stock.

Tyler Technologies Stock Up 0.9 %

TYL opened at $599.69 on Tuesday. Tyler Technologies, Inc. has a one year low of $361.16 and a one year high of $601.51. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.06 and a current ratio of 1.06. The stock’s fifty day moving average is $582.08 and its 200-day moving average is $517.04. The company has a market capitalization of $25.59 billion, a PE ratio of 123.90, a P/E/G ratio of 5.42 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, July 24th. The technology company reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.06. The company had revenue of $540.98 million for the quarter, compared to analyst estimates of $541.01 million. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. Tyler Technologies’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.53 earnings per share. On average, equities analysts predict that Tyler Technologies, Inc. will post 7.21 EPS for the current fiscal year.

Insider Transactions at Tyler Technologies

In other news, Director Daniel M. Pope sold 275 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $578.26, for a total transaction of $159,021.50. Following the sale, the director now directly owns 3,218 shares of the company’s stock, valued at $1,860,840.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider John S. Marr, Jr. sold 5,000 shares of Tyler Technologies stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $578.94, for a total transaction of $2,894,700.00. Following the transaction, the insider now owns 6,983 shares in the company, valued at approximately $4,042,738.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel M. Pope sold 275 shares of Tyler Technologies stock in a transaction on Monday, July 29th. The shares were sold at an average price of $578.26, for a total value of $159,021.50. Following the transaction, the director now owns 3,218 shares in the company, valued at $1,860,840.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,375 shares of company stock valued at $17,049,739 over the last three months. Company insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TYL. Barclays raised shares of Tyler Technologies from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $577.00 to $700.00 in a report on Monday, October 7th. Needham & Company LLC reissued a “buy” rating and set a $600.00 price target on shares of Tyler Technologies in a report on Thursday, July 25th. Piper Sandler boosted their price target on shares of Tyler Technologies from $529.00 to $625.00 and gave the company an “overweight” rating in a report on Friday, July 26th. BTIG Research boosted their price target on shares of Tyler Technologies from $550.00 to $630.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Truist Financial reissued a “buy” rating and set a $600.00 price target (up previously from $560.00) on shares of Tyler Technologies in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $591.77.

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.