Oppenheimer Asset Management Inc. Trims Position in Tyler Technologies, Inc. (NYSE:TYL)

Oppenheimer Asset Management Inc. trimmed its position in Tyler Technologies, Inc. (NYSE:TYL) by 5.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,989 shares of the technology company’s stock after selling 1,617 shares during the period. Oppenheimer Asset Management Inc. owned 0.07% of Tyler Technologies worth $16,338,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Independence Bank of Kentucky purchased a new stake in Tyler Technologies in the second quarter worth $25,000. Ashton Thomas Securities LLC bought a new stake in Tyler Technologies in the third quarter worth $27,000. Covestor Ltd boosted its holdings in Tyler Technologies by 153.6% in the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after acquiring an additional 43 shares in the last quarter. Blue Trust Inc. boosted its holdings in Tyler Technologies by 329.4% in the second quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after acquiring an additional 56 shares in the last quarter. Finally, Lynx Investment Advisory bought a new stake in Tyler Technologies in the second quarter worth $38,000. 93.30% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Brian K. Miller sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $586.97, for a total value of $1,467,425.00. Following the transaction, the chief financial officer now directly owns 11,950 shares of the company’s stock, valued at approximately $7,014,291.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Brian K. Miller sold 2,500 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $586.97, for a total value of $1,467,425.00. Following the transaction, the chief financial officer now owns 11,950 shares of the company’s stock, valued at approximately $7,014,291.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of the business’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 completion of the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at $45,436,500. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,600 shares of company stock worth $19,307,295. Corporate insiders own 2.20% of the company’s stock.

Tyler Technologies Trading Down 0.4 %

Shares of NYSE:TYL opened at $616.51 on Thursday. The stock has a 50 day moving average of $592.85 and a 200 day moving average of $545.06. The company has a market cap of $26.39 billion, a PE ratio of 112.50, a price-to-earnings-growth ratio of 5.59 and a beta of 0.77. Tyler Technologies, Inc. has a 12-month low of $397.80 and a 12-month high of $631.43. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last posted its quarterly 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. The business had revenue of $543.34 million during the quarter, compared to analyst estimates of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The company’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.66 earnings per share. As a group, equities research analysts expect that Tyler Technologies, Inc. will post 7.39 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on TYL shares. Robert W. Baird boosted their target price on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. StockNews.com raised Tyler Technologies from a “hold” rating to a “buy” rating in a report on Tuesday. Barclays boosted their target price on Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Truist Financial reissued a “buy” rating and issued a $685.00 target price (up from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Finally, Evercore ISI raised Tyler Technologies to a “hold” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $642.62.

Tyler Technologies 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.