Hartford Investment Management Co. Sells 51 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Hartford Investment Management Co. reduced its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,642 shares of the technology company’s stock after selling 51 shares during the quarter. Hartford Investment Management Co.’s holdings in Tyler Technologies were worth $1,523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Portfolio Design Labs LLC bought a new position in Tyler Technologies during the 4th quarter valued at about $315,000. Axecap Investments LLC raised its holdings in shares of Tyler Technologies by 45.0% during the fourth quarter. Axecap Investments LLC now owns 4,825 shares of the technology company’s stock valued at $2,782,000 after purchasing an additional 1,497 shares during the last quarter. Empowered Funds LLC lifted its position in Tyler Technologies by 54.6% during the fourth quarter. Empowered Funds LLC now owns 3,588 shares of the technology company’s stock valued at $2,069,000 after purchasing an additional 1,267 shares during the period. Apollon Wealth Management LLC purchased a new stake in Tyler Technologies in the fourth quarter worth approximately $221,000. Finally, EULAV Asset Management grew its position in Tyler Technologies by 7.3% in the 4th quarter. EULAV Asset Management now owns 245,684 shares of the technology company’s stock worth $141,671,000 after purchasing an additional 16,700 shares during the period. 93.30% of the stock is owned by institutional investors.

Tyler Technologies Price Performance

Shares of NYSE:TYL opened at $648.18 on Friday. The firm has a market cap of $27.74 billion, a price-to-earnings ratio of 118.28, a P/E/G ratio of 4.78 and a beta of 0.78. The firm has a fifty day moving average price of $595.47 and a 200 day moving average price of $593.32. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $661.31. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21.

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

Insider Activity at Tyler Technologies

In other news, CFO Brian K. Miller sold 6,752 shares of Tyler Technologies stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $613.75, for a total value of $4,144,040.00. Following the completion of the transaction, the chief financial officer now owns 11,918 shares in the company, valued at approximately $7,314,672.50. The trade was a 36.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $633.55, for a total transaction of $3,801,300.00. Following the transaction, the insider now directly owns 6,983 shares of the company’s stock, valued at $4,424,079.65. The trade was a 46.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,502 shares of company stock valued at $18,941,368. 2.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TYL has been the topic of several research analyst reports. Wells Fargo & Company reissued an “equal weight” rating and set a $615.00 price target (down from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. Barclays upped their price target on shares of Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Piper Sandler boosted their target price on shares of Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Robert W. Baird increased their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, StockNews.com downgraded Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $645.69.

About Tyler Technologies

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.