Kornitzer Capital Management Inc. KS Sells 8,109 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Kornitzer Capital Management Inc. KS decreased its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 30.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 18,489 shares of the technology company’s stock after selling 8,109 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Tyler Technologies were worth $10,661,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Creative Planning raised its holdings in Tyler Technologies by 2.9% in the 3rd quarter. Creative Planning now owns 24,051 shares of the technology company’s stock valued at $14,039,000 after acquiring an additional 686 shares in the last quarter. Blue Trust Inc. increased its position in shares of Tyler Technologies by 432.9% during the third quarter. Blue Trust Inc. now owns 389 shares of the technology company’s stock valued at $227,000 after purchasing an additional 316 shares during the period. Signaturefd LLC raised its stake in shares of Tyler Technologies by 19.7% in the third quarter. Signaturefd LLC now owns 627 shares of the technology company’s stock valued at $366,000 after purchasing an additional 103 shares in the last quarter. Greenleaf Trust bought a new position in Tyler Technologies in the third quarter worth $249,000. Finally, Axecap Investments LLC bought a new position in Tyler Technologies in the third quarter worth $1,943,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Insider Activity

In other Tyler Technologies news, insider John S. Marr, Jr. sold 12,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the transaction, the insider now directly owns 6,983 shares in the company, valued at approximately $4,285,187.78. This represents a 63.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brian K. Miller sold 6,752 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $613.75, for a total transaction of $4,144,040.00. Following the completion of the transaction, the chief financial officer now directly owns 11,918 shares in the company, valued at $7,314,672.50. This trade represents a 36.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,502 shares of company stock valued at $18,941,368. Company insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TYL. StockNews.com upgraded shares of Tyler Technologies from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Piper Sandler lifted their price objective on Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a 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 report on Friday, February 14th. Oppenheimer boosted their price target on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $615.00 price objective (down from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $676.25.

Tyler Technologies Stock Down 0.2 %

Shares of NYSE TYL opened at $640.13 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18. The company has a market cap of $27.40 billion, a price-to-earnings ratio of 116.81, a price-to-earnings-growth ratio of 4.78 and a beta of 0.78. Tyler Technologies, Inc. has a 12-month low of $397.80 and a 12-month high of $661.31. The firm’s 50-day simple moving average is $596.62 and its 200 day simple moving average is $594.99.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. On average, research analysts expect that Tyler Technologies, Inc. will post 7.36 earnings per share for the current fiscal 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.