Glenmede Trust Co. NA Sells 57 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Glenmede Trust Co. NA decreased its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 9.1% during the third quarter, HoldingsChannel.com reports. The firm owned 569 shares of the technology company’s stock after selling 57 shares during the period. Glenmede Trust Co. NA’s holdings in Tyler Technologies were worth $332,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Independence Bank of Kentucky purchased a new stake in Tyler Technologies during the 2nd quarter worth about $25,000. Ashton Thomas Securities LLC purchased a new stake in Tyler Technologies during the 3rd quarter worth about $27,000. Blue Trust Inc. lifted its holdings in Tyler Technologies by 329.4% during the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after purchasing an additional 56 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Tyler Technologies during the 2nd quarter worth about $61,000. Finally, Tobam purchased a new stake in Tyler Technologies during the 3rd quarter worth about $78,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Needham & Company LLC increased their price objective on Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. JMP Securities raised their price target on Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a report on Friday, October 25th. Oppenheimer raised their price target on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. StockNews.com raised Tyler Technologies from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Finally, Robert W. Baird raised their price target on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $642.62.

Insider Buying and Selling

In related news, CFO Brian K. Miller sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $602.72, for a total transaction of $1,808,160.00. Following the transaction, the chief financial officer now directly owns 11,950 shares in the company, valued at $7,202,504. This trade represents a 20.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO H Lynn Moore, Jr. sold 3,250 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $631.41, for a total value of $2,052,082.50. Following the transaction, the chief executive officer now owns 75,000 shares in the company, valued at approximately $47,355,750. The trade was a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,000 shares of company stock worth $22,409,563 in the last ninety days. 1.50% of the stock is owned by insiders.

Tyler Technologies Stock Performance

Shares of NYSE TYL opened at $635.69 on Thursday. The stock has a market cap of $27.21 billion, a price-to-earnings ratio of 116.00, a P/E/G ratio of 5.66 and a beta of 0.76. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies, Inc. has a 1-year low of $397.80 and a 1-year high of $637.53. The stock’s 50-day moving average is $602.85 and its 200 day moving average is $559.72.

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 the consensus estimate of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The business had revenue of $543.34 million for the quarter, compared to analyst estimates of $547.34 million. During the same period last year, the company earned $1.66 EPS. Tyler Technologies’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Tyler Technologies, Inc. will post 7.36 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.