Blue Trust Inc. Cuts Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Blue Trust Inc. reduced its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 60.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 153 shares of the technology company’s stock after selling 236 shares during the period. Blue Trust Inc.’s holdings in Tyler Technologies were worth $88,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Asset Management One Co. Ltd. grew its position in shares of Tyler Technologies by 4.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 33,893 shares of the technology company’s stock valued at $19,841,000 after purchasing an additional 1,388 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Tyler Technologies by 1,991.8% in the fourth quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock valued at $317,486,000 after purchasing an additional 524,259 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Tyler Technologies by 49.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 149,562 shares of the technology company’s stock valued at $85,953,000 after purchasing an additional 49,508 shares in the last quarter. Portfolio Design Labs LLC purchased a new stake in shares of Tyler Technologies in the fourth quarter valued at approximately $315,000. Finally, Axecap Investments LLC grew its position in shares of Tyler Technologies by 45.0% in the fourth quarter. Axecap Investments LLC now owns 4,825 shares of the technology company’s stock valued at $2,782,000 after purchasing an additional 1,497 shares in the last quarter. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Brian K. Miller sold 2,500 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $632.01, for a total transaction of $1,580,025.00. Following the completion of the sale, the chief financial officer now owns 12,198 shares in the company, valued at approximately $7,709,257.98. This represents a 17.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO H Lynn Moore, Jr. sold 3,250 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $631.41, for a total transaction of $2,052,082.50. Following the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at $47,355,750. This trade represents a 4.15 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,502 shares of company stock valued at $18,941,368. 2.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. DA Davidson restated a “neutral” rating and issued a $575.00 price target on shares of Tyler Technologies in a research report on Thursday, January 30th. Piper Sandler upped their price target on Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Barclays upped their price objective on Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $615.00 price objective (down from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $700.00 price objective on shares of Tyler Technologies in a report on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $676.25.

Tyler Technologies Stock Performance

Shares of TYL stock opened at $614.89 on Friday. The stock’s 50-day moving average is $597.53 and its two-hundred day moving average is $596.50. The firm has a market cap of $26.45 billion, a price-to-earnings ratio of 101.47, a PEG ratio of 4.93 and a beta of 0.78. Tyler Technologies, Inc. has a 1 year low of $397.80 and a 1 year high of $661.31. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. Analysts predict that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Tyler Technologies Company 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.