M&T Bank Corp Sells 401 Shares of Tyler Technologies, Inc. (NYSE:TYL)

M&T Bank Corp reduced its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 5.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,425 shares of the technology company’s stock after selling 401 shares during the quarter. M&T Bank Corp’s holdings in Tyler Technologies were worth $3,704,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TYL. QRG Capital Management Inc. increased its holdings in Tyler Technologies by 21.1% in the third quarter. QRG Capital Management Inc. now owns 940 shares of the technology company’s stock worth $549,000 after purchasing an additional 164 shares in the last quarter. Portside Wealth Group LLC bought a new stake in shares of Tyler Technologies during the third quarter valued at approximately $259,000. Assetmark Inc. increased its holdings in shares of Tyler Technologies by 9.4% during the third quarter. Assetmark Inc. now owns 9,910 shares of the technology company’s stock valued at $5,785,000 after acquiring an additional 854 shares in the last quarter. Maiden Cove Capital LLC bought a new stake in shares of Tyler Technologies during the third quarter valued at approximately $583,000. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Tyler Technologies during the third quarter valued at approximately $27,000. 93.30% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Tyler Technologies news, CFO Brian K. Miller sold 6,752 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 11,918 shares of the company’s stock, valued at approximately $7,314,672.50. The trade was a 36.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the business’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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,816 shares of company stock valued at $9,118,070. Insiders own 2.20% of the company’s stock.

Tyler Technologies Stock Down 3.0 %

TYL stock opened at $589.02 on Friday. The stock’s fifty day simple moving average is $599.93 and its two-hundred day simple moving average is $598.58. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies, Inc. has a 1-year low of $397.80 and a 1-year high of $661.31. The stock has a market cap of $25.34 billion, a P/E ratio of 97.20, a P/E/G ratio of 4.93 and a beta of 0.80.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. Analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Piper Sandler boosted 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 boosted their price objective on Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Truist Financial restated a “buy” rating and set a $775.00 price objective (up previously from $685.00) on shares of Tyler Technologies in a report on Friday, February 14th. DA Davidson restated a “neutral” rating and set a $575.00 price objective on shares of Tyler Technologies in a report on Thursday, January 30th. Finally, Needham & Company LLC restated a “buy” rating and set a $700.00 price objective on shares of Tyler Technologies in a report on Tuesday, January 21st. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $676.25.

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.