Wedbush Securities Inc. Sells 892 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Wedbush Securities Inc. decreased its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 34.0% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,730 shares of the technology company’s stock after selling 892 shares during the period. Wedbush Securities Inc.’s holdings in Tyler Technologies were worth $870,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its stake in shares of Tyler Technologies by 119.2% during the first quarter. Commonwealth Equity Services LLC now owns 6,517 shares of the technology company’s stock valued at $2,770,000 after buying an additional 3,544 shares during the last quarter. Bessemer Group Inc. lifted its position in Tyler Technologies by 39.4% in the first quarter. Bessemer Group Inc. now owns 6,840 shares of the technology company’s stock valued at $2,906,000 after purchasing an additional 1,935 shares during the last quarter. Rafferty Asset Management LLC lifted its position in Tyler Technologies by 26.8% in the fourth quarter. Rafferty Asset Management LLC now owns 13,972 shares of the technology company’s stock valued at $5,842,000 after purchasing an additional 2,951 shares during the last quarter. APG Asset Management US Inc. purchased a new stake in shares of Tyler Technologies during the fourth quarter valued at approximately $57,493,000. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of Tyler Technologies by 7.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 46,724 shares of the technology company’s stock worth $19,858,000 after buying an additional 3,198 shares during the period. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TYL shares. DA Davidson raised their price target on shares of Tyler Technologies from $456.00 to $525.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Loop Capital raised their target price on Tyler Technologies from $485.00 to $530.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. BTIG Research upped their price target on Tyler Technologies from $550.00 to $630.00 and gave the company a “buy” rating in a research report on Friday, July 26th. JMP Securities lifted their price objective on Tyler Technologies from $490.00 to $580.00 and gave the stock a “market outperform” rating in a research report on Monday, July 22nd. Finally, Piper Sandler upped their target price on Tyler Technologies from $529.00 to $625.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $582.31.

Insider Buying and Selling at Tyler Technologies

In other news, CEO H Lynn Moore, Jr. sold 6,250 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $576.49, for a total transaction of $3,603,062.50. Following the completion of the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at $43,236,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO H Lynn Moore, Jr. sold 6,250 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $576.49, for a total value of $3,603,062.50. Following the transaction, the chief executive officer now owns 75,000 shares in the company, valued at approximately $43,236,750. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Glenn A. Carter sold 3,350 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $582.57, for a total transaction of $1,951,609.50. Following the sale, the director now owns 2,654 shares of the company’s stock, valued at $1,546,140.78. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,375 shares of company stock worth $11,211,739. 2.20% of the stock is owned by insiders.

Tyler Technologies Stock Down 1.6 %

NYSE:TYL opened at $586.14 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.06 and a quick ratio of 1.06. The firm’s 50-day moving average price is $559.59 and its 200-day moving average price is $490.26. The company has a market capitalization of $25.01 billion, a PE ratio of 132.61, a P/E/G ratio of 5.37 and a beta of 0.78. Tyler Technologies, Inc. has a 1-year low of $361.16 and a 1-year high of $598.93.

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

About Tyler Technologies

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.