Worldquant Millennium Advisors LLC Trims Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Worldquant Millennium Advisors LLC decreased its position in Tyler Technologies, Inc. (NYSE:TYL) by 47.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,788 shares of the technology company’s stock after selling 1,631 shares during the quarter. Worldquant Millennium Advisors LLC’s holdings in Tyler Technologies were worth $1,044,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC lifted its position in Tyler Technologies by 18.3% during the 2nd quarter. SG Americas Securities LLC now owns 8,117 shares of the technology company’s stock valued at $4,081,000 after acquiring an additional 1,255 shares during the period. Aigen Investment Management LP bought a new position in shares of Tyler Technologies during the third quarter valued at approximately $1,309,000. Vaughan Nelson Investment Management L.P. increased its stake in shares of Tyler Technologies by 21.5% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 123,253 shares of the technology company’s stock valued at $61,969,000 after purchasing an additional 21,818 shares in the last quarter. Maiden Cove Capital LLC purchased a new position in shares of Tyler Technologies during the third quarter valued at approximately $583,000. Finally, Swedbank AB bought a new stake in shares of Tyler Technologies in the 2nd quarter worth approximately $251,390,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Truist Financial reiterated a “buy” rating and set a $685.00 price objective (up previously from $600.00) on shares of Tyler Technologies in a research note on Friday, October 25th. StockNews.com lowered Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Friday. JMP Securities increased their price objective on shares of Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a research report on Friday, October 25th. Piper Sandler raised their price objective on shares of Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Needham & Company LLC upped their target price on shares of Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $642.62.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 2,500 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $632.01, for a total value of $1,580,025.00. Following the completion of the sale, the chief financial officer now owns 12,198 shares in the company, valued at $7,709,257.98. This represents a 17.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John S. Marr, Jr. sold 12,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $613.66, for a total value of $7,363,920.00. Following the completion of the transaction, the insider now directly owns 6,983 shares in the company, valued at $4,285,187.78. This trade represents a 63.21 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,500 shares of company stock worth $27,790,888. 2.20% of the stock is owned by insiders.

Tyler Technologies Stock Down 1.2 %

Tyler Technologies stock opened at $623.15 on Monday. The stock has a market cap of $26.67 billion, a PE ratio of 113.71, a price-to-earnings-growth ratio of 5.76 and a beta of 0.76. 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, Inc. has a one year low of $397.80 and a one year high of $638.56. The stock has a fifty day moving average of $604.80 and a 200 day moving average of $562.01.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. The company had revenue of $543.34 million during the quarter, compared to analysts’ expectations of $547.34 million. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. Tyler Technologies’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.66 earnings per share. As a group, sell-side analysts predict that Tyler Technologies, Inc. will post 7.36 EPS for the current year.

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.