Tyler Technologies, Inc. (NYSE:TYL) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc lessened its position in Tyler Technologies, Inc. (NYSE:TYL) by 4.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,710 shares of the technology company’s stock after selling 247 shares during the period. CIBC Asset Management Inc’s holdings in Tyler Technologies were worth $2,871,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of TYL. Independence Bank of Kentucky acquired a new position in Tyler Technologies during the second quarter worth approximately $25,000. Kapitalo Investimentos Ltda acquired a new position in Tyler Technologies during the fourth quarter worth approximately $26,000. Covestor Ltd increased its position in Tyler Technologies by 153.6% during the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after purchasing an additional 43 shares during the last quarter. Blue Trust Inc. increased its position in Tyler Technologies by 329.4% during the second quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after purchasing an additional 56 shares during the last quarter. Finally, Lynx Investment Advisory acquired a new position in Tyler Technologies during the second quarter worth approximately $38,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Wall Street Analyst Weigh In

TYL has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $600.00 price target on shares of Tyler Technologies in a research report on Thursday, July 25th. Evercore ISI raised shares of Tyler Technologies to a “hold” rating in a research report on Friday, July 26th. Piper Sandler boosted their price objective on shares of Tyler Technologies from $529.00 to $625.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Barclays boosted their price objective on shares of Tyler Technologies from $515.00 to $577.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Finally, Oppenheimer boosted their price objective on shares of Tyler Technologies from $550.00 to $625.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Tyler Technologies has an average rating of “Moderate Buy” and a consensus target price of $582.31.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, insider John S. Marr, Jr. sold 5,000 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $578.94, for a total transaction of $2,894,700.00. Following the transaction, the insider now directly owns 6,983 shares in the company, valued at approximately $4,042,738.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Tyler Technologies news, CFO Brian K. Miller sold 2,500 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $586.97, for a total transaction of $1,467,425.00. Following the transaction, the chief financial officer now directly owns 11,950 shares in the company, valued at approximately $7,014,291.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John S. Marr, Jr. sold 5,000 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $578.94, for a total transaction of $2,894,700.00. Following the transaction, the insider now owns 6,983 shares in the company, valued at $4,042,738.02. The disclosure for this sale can be found here. Insiders have sold 16,825 shares of company stock worth $9,643,553 in the last ninety days. 2.20% of the stock is owned by insiders.

Tyler Technologies Price Performance

Shares of TYL stock opened at $583.86 on Friday. The company has a market capitalization of $24.91 billion, a PE ratio of 132.10, a price-to-earnings-growth ratio of 5.44 and a beta of 0.78. The firm has a fifty day simple moving average of $554.50 and a 200-day simple moving average of $486.36. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.19. Tyler Technologies, Inc. has a twelve month low of $361.16 and a twelve month high of $593.50.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, July 24th. The technology company reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.06. The business had revenue of $540.98 million during the quarter, compared to the consensus estimate of $541.01 million. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.53 earnings per share. Equities research analysts anticipate that Tyler Technologies, Inc. will post 7.21 earnings per share for the current fiscal 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.