Kentucky Retirement Systems Sells 226 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Kentucky Retirement Systems lowered its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 7.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 2,973 shares of the technology company’s stock after selling 226 shares during the period. Kentucky Retirement Systems’ holdings in Tyler Technologies were worth $1,735,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Swedbank AB acquired a new stake in Tyler Technologies in the second quarter valued at approximately $251,390,000. International Assets Investment Management LLC lifted its stake in shares of Tyler Technologies by 252,047.5% in the 3rd quarter. International Assets Investment Management LLC now owns 307,620 shares of the technology company’s stock valued at $179,564,000 after acquiring an additional 307,498 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Tyler Technologies by 15.3% during the 1st quarter. Janus Henderson Group PLC now owns 532,935 shares of the technology company’s stock valued at $226,501,000 after acquiring an additional 70,801 shares in the last quarter. Quantum Capital Management LLC NJ grew its position in Tyler Technologies by 179.4% during the 1st quarter. Quantum Capital Management LLC NJ now owns 107,760 shares of the technology company’s stock worth $45,799,000 after acquiring an additional 69,189 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Tyler Technologies by 18.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 424,982 shares of the technology company’s stock worth $180,622,000 after purchasing an additional 65,814 shares in the last quarter. 93.30% of the stock is currently owned by institutional investors.

Tyler Technologies Stock Up 0.7 %

Shares of Tyler Technologies stock opened at $601.19 on Tuesday. The stock’s 50-day moving average is $593.78 and its 200 day moving average is $547.67. Tyler Technologies, Inc. has a one year low of $397.80 and a one year high of $631.43. The firm has a market cap of $25.73 billion, a price-to-earnings ratio of 109.71, a PEG ratio of 5.39 and a beta of 0.77. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.09. The firm had revenue of $543.34 million for 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%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.66 EPS. Equities research analysts anticipate that Tyler Technologies, Inc. will post 7.39 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Brian K. Miller sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $624.41, for a total transaction of $1,561,025.00. Following the completion of the sale, the chief financial officer now owns 11,950 shares in the company, valued at $7,461,699.50. The trade was a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John S. Marr, Jr. sold 5,000 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $578.94, for a total value of $2,894,700.00. Following the completion of the transaction, the insider now owns 6,983 shares in the company, valued at approximately $4,042,738.02. This represents a 41.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,600 shares of company stock worth $19,307,295. 2.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TYL has been the topic of a number of recent research reports. DA Davidson lifted their price target on Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. StockNews.com raised shares of Tyler Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Evercore ISI raised shares of Tyler Technologies to a “hold” rating in a research note on Friday, July 26th. Truist Financial reiterated a “buy” rating and set a $685.00 price target (up previously from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Finally, BTIG Research increased their price objective on Tyler Technologies from $550.00 to $630.00 and gave the company a “buy” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Tyler Technologies presently has an average rating of “Moderate Buy” and an average price target of $642.62.

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.