Tyler Technologies, Inc. (NYSE:TYL) Position Trimmed by Latitude Advisors LLC

Latitude Advisors LLC lessened its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 6.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,080 shares of the technology company’s stock after selling 1,000 shares during the period. Tyler Technologies makes up about 4.1% of Latitude Advisors LLC’s portfolio, making the stock its 4th biggest position. Latitude Advisors LLC’s holdings in Tyler Technologies were worth $5,887,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. American Century Companies Inc. lifted its stake in Tyler Technologies by 13.1% during the 1st quarter. American Century Companies Inc. now owns 1,328 shares of the technology company’s stock valued at $591,000 after acquiring an additional 154 shares during the period. Panagora Asset Management Inc. lifted its stake in Tyler Technologies by 69.1% during the 1st quarter. Panagora Asset Management Inc. now owns 2,431 shares of the technology company’s stock valued at $1,082,000 after acquiring an additional 993 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Tyler Technologies by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,483 shares of the technology company’s stock valued at $2,439,000 after acquiring an additional 340 shares during the period. Raymond James Trust N.A. lifted its stake in Tyler Technologies by 4.3% during the 1st quarter. Raymond James Trust N.A. now owns 1,047 shares of the technology company’s stock valued at $466,000 after acquiring an additional 43 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Tyler Technologies by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 118,419 shares of the technology company’s stock valued at $52,683,000 after acquiring an additional 934 shares during the period. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Price Performance

Shares of Tyler Technologies stock traded down $1.42 during trading hours on Wednesday, reaching $399.26. 178,366 shares of the company’s stock were exchanged, compared to its average volume of 199,392. Tyler Technologies, Inc. has a 1 year low of $361.16 and a 1 year high of $454.74. The company has a market capitalization of $16.94 billion, a P/E ratio of 102.64, a price-to-earnings-growth ratio of 3.94 and a beta of 0.81. The business has a fifty day moving average of $425.50 and a two-hundred day moving average of $413.64. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.20.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, February 14th. The technology company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.06. Tyler Technologies had a net margin of 8.50% and a return on equity of 8.85%. The business had revenue of $480.94 million during the quarter, compared to analyst estimates of $483.34 million. As a group, research analysts predict that Tyler Technologies, Inc. will post 6.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TYL has been the subject of several research reports. Needham & Company LLC lifted their price objective on shares of Tyler Technologies from $475.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Piper Sandler boosted their target price on shares of Tyler Technologies from $480.00 to $520.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. JMP Securities reiterated a “market outperform” rating and issued a $490.00 target price on shares of Tyler Technologies in a research note on Friday, February 16th. DA Davidson boosted their target price on shares of Tyler Technologies from $412.00 to $434.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Tyler Technologies from $500.00 to $526.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $457.86.

Insider Transactions at Tyler Technologies

In other news, insider John S. Marr, Jr. sold 6,500 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $427.82, for a total transaction of $2,780,830.00. Following the completion of the sale, the insider now owns 6,400 shares of the company’s stock, valued at $2,738,048. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Tyler Technologies news, COO Jeffrey David Puckett sold 2,609 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $423.10, for a total transaction of $1,103,867.90. Following the completion of the transaction, the chief operating officer now owns 6,925 shares of the company’s stock, valued at $2,929,967.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John S. Marr, Jr. sold 6,500 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $427.82, for a total transaction of $2,780,830.00. Following the transaction, the insider now directly owns 6,400 shares of the company’s stock, valued at approximately $2,738,048. The disclosure for this sale can be found here. Insiders sold 50,608 shares of company stock valued at $21,974,819 over the last 90 days. 1.50% of the stock is currently owned by corporate 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.