Citigroup Inc. Sells 3,485 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Citigroup Inc. lessened its position in Tyler Technologies, Inc. (NYSE:TYL) by 9.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,407 shares of the technology company’s stock after selling 3,485 shares during the period. Citigroup Inc. owned approximately 0.08% of Tyler Technologies worth $20,668,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of TYL. Redwood Investment Management LLC raised its stake in Tyler Technologies by 5.3% during the 1st quarter. Redwood Investment Management LLC now owns 1,308 shares of the technology company’s stock worth $556,000 after buying an additional 66 shares during the period. Tidal Investments LLC increased its holdings in Tyler Technologies by 64.8% during the 1st quarter. Tidal Investments LLC now owns 2,953 shares of the technology company’s stock worth $1,253,000 after purchasing an additional 1,161 shares in the last quarter. Comerica Bank raised its stake in shares of Tyler Technologies by 12.5% in the 1st quarter. Comerica Bank now owns 16,887 shares of the technology company’s stock valued at $7,177,000 after purchasing an additional 1,876 shares during the period. Plato Investment Management Ltd bought a new stake in shares of Tyler Technologies in the first quarter valued at about $75,000. Finally, Wahed Invest LLC boosted its position in shares of Tyler Technologies by 14.4% during the first quarter. Wahed Invest LLC now owns 764 shares of the technology company’s stock worth $325,000 after buying an additional 96 shares during the period. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Tyler Technologies Trading Up 1.8 %

TYL stock opened at $635.22 on Wednesday. Tyler Technologies, Inc. has a one year low of $397.80 and a one year high of $635.40. The stock has a market cap of $27.19 billion, a price-to-earnings ratio of 115.92, a price-to-earnings-growth ratio of 5.52 and a beta of 0.77. The company has a fifty day moving average price of $595.99 and a two-hundred day moving average price of $553.15. 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 announced its earnings results on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.43 by $0.09. The business had revenue of $543.34 million during the quarter, compared to the consensus estimate of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. Tyler Technologies’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.66 EPS. Equities analysts anticipate that Tyler Technologies, Inc. will post 7.36 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. DA Davidson boosted their target price on Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Barclays increased their target price on shares of Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Needham & Company LLC boosted their price target on shares of Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Oppenheimer raised their price objective on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, Piper Sandler upped their target price on Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $642.62.

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 2,500 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $586.97, for a total value of $1,467,425.00. Following the transaction, the chief financial officer now directly 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 SEC, which is available through this hyperlink. Also, insider John S. Marr, Jr. sold 12,000 shares of the stock in a transaction on 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 transaction, the insider now owns 6,983 shares in the company, valued at $4,285,187.78. The trade was a 63.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,600 shares of company stock worth $23,776,515 over the last quarter. Company insiders own 1.50% of the company’s stock.

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.