Pathstone Holdings LLC Cuts Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Pathstone Holdings LLC lessened its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 0.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,841 shares of the technology company’s stock after selling 38 shares during the period. Pathstone Holdings LLC’s holdings in Tyler Technologies were worth $5,744,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Independence Bank of Kentucky purchased a new stake in shares of Tyler Technologies during the 2nd quarter worth about $25,000. Ashton Thomas Securities LLC purchased a new stake in Tyler Technologies during the third quarter worth approximately $27,000. Covestor Ltd grew its stake 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 buying an additional 43 shares during the period. Blue Trust Inc. increased its position in shares of Tyler Technologies by 329.4% in the second quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after acquiring an additional 56 shares in the last quarter. Finally, Lynx Investment Advisory purchased a new position in shares of Tyler Technologies in the 2nd quarter valued at $38,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Brian K. Miller sold 2,500 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 11,950 shares of the company’s stock, valued at $7,014,291.50. This represents a 17.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $605.82, for a total transaction of $3,786,375.00. Following the completion of the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at $45,436,500. This represents a 7.69 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,600 shares of company stock valued at $16,412,595. Company insiders own 2.20% of the company’s stock.

Tyler Technologies Stock Performance

Shares of TYL stock opened at $609.09 on Friday. The stock has a market capitalization of $26.07 billion, a price-to-earnings ratio of 111.15, a PEG ratio of 5.41 and a beta of 0.77. Tyler Technologies, Inc. has a one year low of $397.80 and a one year high of $631.43. The company’s 50-day simple moving average is $594.68 and its 200-day simple moving average is $550.24. 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 (NYSE:TYL) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The company had revenue of $543.34 million for the quarter, compared to the consensus estimate of $547.34 million. During the same quarter last year, the business posted $1.66 EPS. Tyler Technologies’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities analysts anticipate that Tyler Technologies, Inc. will post 7.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on TYL. Wells Fargo & Company raised their price objective on Tyler Technologies from $580.00 to $600.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Evercore ISI upgraded Tyler Technologies to a “hold” rating in a report on Friday, July 26th. Robert W. Baird upped their price target on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. 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. Finally, Needham & Company LLC upped their target price on shares of Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $642.62.

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.