Clear Harbor Asset Management LLC Trims Stake in Tyler Technologies, Inc. (NYSE:TYL)

Clear Harbor Asset Management LLC cut its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 15.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,759 shares of the technology company’s stock after selling 1,226 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Tyler Technologies were worth $3,898,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TYL. Ashton Thomas Securities LLC purchased a new position in Tyler Technologies during the third quarter worth approximately $27,000. Tobam purchased a new position in shares of Tyler Technologies in the 3rd quarter worth $78,000. Quarry LP acquired a new position in Tyler Technologies in the third quarter valued at $78,000. MassMutual Private Wealth & Trust FSB increased its stake in Tyler Technologies by 18.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the technology company’s stock worth $78,000 after acquiring an additional 21 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in shares of Tyler Technologies in the 3rd quarter worth about $79,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO H Lynn Moore, Jr. sold 6,250 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $605.82, for a total transaction 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 approximately $45,436,500. The trade was a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian K. Miller sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $602.72, for a total value of $1,808,160.00. Following the sale, the chief financial officer now owns 11,950 shares of the company’s stock, valued at $7,202,504. The trade was a 20.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,252 shares of company stock valued at $26,096,928 over the last quarter. Corporate insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TYL. Wells Fargo & Company reissued an “equal weight” rating and set a $615.00 target price (down previously from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. Oppenheimer raised their price objective on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Needham & Company LLC raised their target price on Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. StockNews.com downgraded shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Finally, Piper Sandler lifted their target price on Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $643.77.

Tyler Technologies Stock Down 1.1 %

Tyler Technologies stock opened at $569.18 on Tuesday. Tyler Technologies, Inc. has a one year low of $397.80 and a one year high of $638.56. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a market capitalization of $24.36 billion, a P/E ratio of 103.87, a P/E/G ratio of 4.42 and a beta of 0.78. The company has a 50-day simple moving average of $599.72 and a 200-day simple moving average of $584.55.

Tyler Technologies (NYSE:TYL) last released 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. The company had revenue of $543.34 million during the quarter, compared to analysts’ expectations of $547.34 million. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.66 earnings per share. As a group, equities analysts expect that Tyler Technologies, Inc. will post 7.36 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.