Tyler Technologies, Inc. (NYSE:TYL) Stock Position Decreased by Summit Trail Advisors LLC

Summit Trail Advisors LLC lowered its position in Tyler Technologies, Inc. (NYSE:TYL) by 9.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,756 shares of the technology company’s stock after selling 276 shares during the period. Summit Trail Advisors LLC’s holdings in Tyler Technologies were worth $1,609,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Swedbank AB bought a new stake in Tyler Technologies during the second quarter valued at about $251,390,000. International Assets Investment Management LLC raised its stake in shares of Tyler Technologies by 252,047.5% in the 3rd quarter. International Assets Investment Management LLC now owns 307,620 shares of the technology company’s stock valued at $179,564,000 after buying an additional 307,498 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Tyler Technologies by 15.3% during the 1st quarter. Janus Henderson Group PLC now owns 532,935 shares of the technology company’s stock worth $226,501,000 after acquiring an additional 70,801 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Tyler Technologies by 18.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 424,982 shares of the technology company’s stock valued at $180,622,000 after acquiring an additional 65,814 shares during the period. Finally, Westwind Capital raised its position in Tyler Technologies by 7,614.0% in the third quarter. Westwind Capital now owns 46,361 shares of the technology company’s stock worth $27,062,000 after purchasing an additional 45,760 shares in the last quarter. Institutional investors own 93.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TYL shares. Needham & Company LLC increased their target price on Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group restated a “buy” rating and issued a $627.00 target price on shares of Tyler Technologies in a research note on Friday, September 13th. Truist Financial reiterated a “buy” rating and set a $685.00 target price (up previously from $600.00) on shares of Tyler Technologies in a research report on Friday, October 25th. Oppenheimer boosted their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, JMP Securities raised their price objective on shares of Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a report on Friday, October 25th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $642.62.

Tyler Technologies Stock Performance

Shares of Tyler Technologies stock opened at $609.09 on Monday. The company’s 50 day moving average price is $595.22 and its two-hundred day moving average price is $552.15. The firm has a market capitalization of $26.07 billion, a P/E ratio of 111.15, a P/E/G ratio of 5.52 and a beta of 0.77. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $631.43. 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 posted 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 for 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%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $1.66 EPS. On average, equities analysts forecast that Tyler Technologies, Inc. will post 7.36 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Brian K. Miller sold 2,500 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $624.41, for a total value of $1,561,025.00. Following the sale, the chief financial officer now directly owns 11,950 shares in the company, valued at approximately $7,461,699.50. The trade was a 17.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of Tyler Technologies stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $605.82, for a total value of $3,786,375.00. Following the transaction, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at $45,436,500. The trade was a 7.69 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,600 shares of company stock valued at $16,412,595. 1.50% of the stock is currently owned by insiders.

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.