William Blair Investment Management LLC Sells 308,841 Shares of Tyler Technologies, Inc. (NYSE:TYL)

William Blair Investment Management LLC reduced its stake in Tyler Technologies, Inc. (NYSE:TYL) by 96.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,831 shares of the technology company’s stock after selling 308,841 shares during the quarter. William Blair Investment Management LLC’s holdings in Tyler Technologies were worth $6,246,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Parallel Advisors LLC boosted its holdings in Tyler Technologies by 4.5% in the fourth quarter. Parallel Advisors LLC now owns 578 shares of the technology company’s stock worth $333,000 after acquiring an additional 25 shares in the last quarter. Cibc World Markets Corp boosted its stake in Tyler Technologies by 16.8% in the 4th quarter. Cibc World Markets Corp now owns 6,736 shares of the technology company’s stock worth $3,884,000 after purchasing an additional 971 shares in the last quarter. Corient Private Wealth LLC boosted its stake in Tyler Technologies by 83.8% in the 4th quarter. Corient Private Wealth LLC now owns 10,332 shares of the technology company’s stock worth $5,958,000 after purchasing an additional 4,712 shares in the last quarter. Gitterman Wealth Management LLC boosted its stake in Tyler Technologies by 6.5% in the 4th quarter. Gitterman Wealth Management LLC now owns 410 shares of the technology company’s stock worth $236,000 after purchasing an additional 25 shares in the last quarter. Finally, Natixis Advisors LLC lifted its stake in shares of Tyler Technologies by 2.4% in the fourth quarter. Natixis Advisors LLC now owns 40,026 shares of the technology company’s stock worth $23,080,000 after buying an additional 937 shares in the last quarter. 93.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TYL. Truist Financial reiterated a “buy” rating and issued a $775.00 target price (up previously from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $615.00 price objective (down from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. DA Davidson reaffirmed a “neutral” rating and set a $575.00 price target on shares of Tyler Technologies in a report on Thursday, January 30th. StockNews.com downgraded Tyler Technologies from a “buy” rating to a “hold” rating in a report on Monday, February 24th. Finally, Piper Sandler upped their target price on shares of Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Tyler Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $676.25.

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,514 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the sale, the chief executive officer now owns 75,734 shares in the company, valued at approximately $46,772,561.06. This trade represents a 7.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the sale, the insider now owns 6,983 shares in the company, valued at $4,322,477. The trade was a 46.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,064 shares of company stock valued at $8,688,030 over the last quarter. 2.20% of the stock is currently owned by company insiders.

Tyler Technologies Price Performance

Shares of NYSE:TYL opened at $578.40 on Thursday. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. Tyler Technologies, Inc. has a twelve month low of $397.80 and a twelve month high of $661.31. The stock has a market capitalization of $24.88 billion, a PE ratio of 95.44, a price-to-earnings-growth ratio of 4.93 and a beta of 0.80. The firm’s 50 day moving average price is $598.88 and its 200-day moving average price is $598.17.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results 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%. Equities research analysts expect that Tyler Technologies, Inc. will post 8.52 EPS 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.