Everence Capital Management Inc. Trims Stock Position in Tyler Technologies, Inc. (NYSE:TYL)

Everence Capital Management Inc. decreased its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 48.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,820 shares of the technology company’s stock after selling 1,720 shares during the quarter. Everence Capital Management Inc.’s holdings in Tyler Technologies were worth $1,049,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC increased its position in Tyler Technologies by 36.8% during the fourth quarter. GAMMA Investing LLC now owns 1,520 shares of the technology company’s stock worth $876,000 after buying an additional 409 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Tyler Technologies by 148.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock valued at $269,369,000 after acquiring an additional 275,511 shares during the period. Franklin Resources Inc. raised its position in Tyler Technologies by 2.0% in the 3rd quarter. Franklin Resources Inc. now owns 912,746 shares of the technology company’s stock valued at $547,354,000 after purchasing an additional 17,943 shares during the last quarter. Tidal Investments LLC boosted its stake in Tyler Technologies by 11.2% during the 3rd quarter. Tidal Investments LLC now owns 2,412 shares of the technology company’s stock worth $1,408,000 after purchasing an additional 243 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in Tyler Technologies during the 3rd quarter worth $651,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Brian K. Miller sold 3,000 shares of Tyler Technologies 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 completion of the transaction, the chief financial officer now directly owns 11,950 shares in the company, valued at $7,202,504. The trade was a 20.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John S. Marr, Jr. sold 6,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $633.55, for a total value of $3,801,300.00. Following the sale, the insider now owns 6,983 shares in the company, valued at approximately $4,424,079.65. This trade represents a 46.21 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,252 shares of company stock worth $26,096,928. Insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TYL has been the subject of several recent research reports. JMP Securities increased their target price on shares of Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research note on Friday, October 25th. Needham & Company LLC lifted their target price on Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. DA Davidson upped their price target on Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. StockNews.com lowered shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Finally, Oppenheimer upped their price objective on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $642.62.

Tyler Technologies Price Performance

TYL stock opened at $584.17 on Friday. The company has a market cap of $25.00 billion, a price-to-earnings ratio of 106.60, a PEG ratio of 5.54 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. The firm has a 50 day moving average of $608.52 and a 200-day moving average of $577.41. Tyler Technologies, Inc. has a 12-month low of $397.80 and a 12-month high of $638.56.

Tyler Technologies (NYSE:TYL) last posted 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 period in the previous year, the business earned $1.66 earnings per share. Tyler Technologies’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, equities analysts expect 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.