Old Port Advisors Has $4.90 Million Stake in Tyler Technologies, Inc. (NYSE:TYL)

Old Port Advisors cut its stake in Tyler Technologies, Inc. (NYSE:TYL) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,494 shares of the technology company’s stock after selling 103 shares during the period. Tyler Technologies makes up 1.4% of Old Port Advisors’ holdings, making the stock its 13th largest position. Old Port Advisors’ holdings in Tyler Technologies were worth $4,898,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in shares of Tyler Technologies by 148.2% during the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock worth $269,369,000 after buying an additional 275,511 shares during the period. Franklin Resources Inc. lifted its stake 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 acquiring an additional 17,943 shares in the last quarter. Tidal Investments LLC boosted its position 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 acquiring an additional 243 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Tyler Technologies during the 3rd quarter worth approximately $651,000. Finally, Sanctuary Advisors LLC raised its holdings in shares of Tyler Technologies by 411.0% in the third quarter. Sanctuary Advisors LLC now owns 13,716 shares of the technology company’s stock valued at $8,354,000 after purchasing an additional 11,032 shares during the last quarter. Institutional investors own 93.30% of the company’s stock.

Tyler Technologies Stock Performance

TYL traded down $0.37 on Thursday, reaching $576.27. The company had a trading volume of 48,859 shares, compared to its average volume of 234,590. The company’s fifty day moving average is $609.69 and its 200 day moving average is $576.61. 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 stock has a market cap of $24.66 billion, a P/E ratio of 105.16, a P/E/G ratio of 5.54 and a beta of 0.76. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $638.56.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share 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 analyst estimates of $547.34 million. During the same quarter last year, the company earned $1.66 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, analysts predict that Tyler Technologies, Inc. will post 7.36 earnings per share for the current fiscal year.

Insider Activity

In related news, insider John S. Marr, Jr. sold 12,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the completion of the sale, the insider now owns 6,983 shares of the company’s stock, valued at $4,285,187.78. This represents a 63.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 shares were 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 approximately $7,202,504. This represents a 20.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,252 shares of company stock valued at $26,096,928. 2.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TYL shares. Truist Financial restated a “buy” rating and set a $685.00 target price (up previously from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Barclays raised their price objective on Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a report on Friday, October 25th. JMP Securities upped their target price on Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a report on Friday, October 25th. The Goldman Sachs Group restated a “buy” rating and issued a $627.00 price target on shares of Tyler Technologies in a research note on Friday, September 13th. Finally, Oppenheimer increased their price objective on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $642.62.

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.