HighTower Advisors LLC Has $2.85 Million Stock Position in Tyler Technologies, Inc. (NYSE:TYL)

HighTower Advisors LLC reduced its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,949 shares of the technology company’s stock after selling 24 shares during the quarter. HighTower Advisors LLC’s holdings in Tyler Technologies were worth $2,854,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC raised its stake in Tyler Technologies by 221.4% during the 4th quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock worth $26,000 after buying an additional 31 shares during the period. Sierra Ocean LLC purchased a new stake in shares of Tyler Technologies in the fourth quarter worth approximately $32,000. OFI Invest Asset Management purchased a new stake in shares of Tyler Technologies in the fourth quarter worth approximately $41,000. Smithfield Trust Co raised its stake in shares of Tyler Technologies by 55.6% in the fourth quarter. Smithfield Trust Co now owns 84 shares of the technology company’s stock worth $48,000 after purchasing an additional 30 shares during the last quarter. Finally, Private Trust Co. NA raised its stake in shares of Tyler Technologies by 51.8% in the fourth quarter. Private Trust Co. NA now owns 85 shares of the technology company’s stock worth $49,000 after purchasing an additional 29 shares during the last quarter. 93.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TYL. Truist Financial reissued a “buy” rating and issued a $775.00 price objective (up from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. Piper Sandler increased their price objective on Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Needham & Company LLC reissued a “buy” rating and issued a $700.00 price objective on shares of Tyler Technologies in a research note on Tuesday, January 21st. StockNews.com downgraded Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Monday, February 24th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $615.00 price target (down from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $676.25.

Insider Buying and Selling at Tyler Technologies

In other news, CEO H Lynn Moore, Jr. sold 6,514 shares of Tyler Technologies stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $617.59, for a total value of $4,022,981.26. Following the completion of the transaction, the chief executive officer now directly owns 75,734 shares in the company, valued at approximately $46,772,561.06. The trade was a 7.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian K. Miller sold 1,550 shares of Tyler Technologies stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $613.58, for a total value of $951,049.00. Following the completion of the transaction, the chief financial officer now owns 14,026 shares of the company’s stock, valued at approximately $8,606,073.08. This trade represents a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,064 shares of company stock valued at $8,688,030. Company insiders own 2.20% of the company’s stock.

Tyler Technologies Price Performance

Shares of NYSE TYL opened at $566.56 on Friday. The stock has a fifty day simple moving average of $598.88 and a two-hundred day simple moving average of $597.81. Tyler Technologies, Inc. has a 1-year low of $397.80 and a 1-year high of $661.31. The firm has a market cap of $24.42 billion, a price-to-earnings ratio of 93.49, a price-to-earnings-growth ratio of 4.93 and a beta of 0.80. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18.

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

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.