Hartford Investment Management Co. Lowers Stake in Tyler Technologies, Inc. (NYSE:TYL)

Hartford Investment Management Co. lowered its position in Tyler Technologies, Inc. (NYSE:TYL) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,642 shares of the technology company’s stock after selling 51 shares during the quarter. Hartford Investment Management Co.’s holdings in Tyler Technologies were worth $1,523,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Oak Thistle LLC boosted its position in Tyler Technologies by 213.7% during the 4th quarter. Oak Thistle LLC now owns 2,328 shares of the technology company’s stock valued at $1,342,000 after acquiring an additional 1,586 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of Tyler Technologies during the third quarter valued at about $1,309,000. Maiden Cove Capital LLC bought a new stake in shares of Tyler Technologies in the 3rd quarter valued at about $583,000. Assetmark Inc. grew its position in shares of Tyler Technologies by 9.4% in the 3rd quarter. Assetmark Inc. now owns 9,910 shares of the technology company’s stock worth $5,785,000 after buying an additional 854 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Tyler Technologies in the 3rd quarter worth approximately $569,000. Institutional investors own 93.30% of the company’s stock.

Insider Activity

In related news, CEO H Lynn Moore, Jr. sold 3,250 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $631.41, for a total transaction of $2,052,082.50. Following the completion of the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at approximately $47,355,750. This trade represents a 4.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brian K. Miller sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $632.01, for a total value of $1,580,025.00. Following the completion of the transaction, the chief financial officer now directly owns 12,198 shares of the company’s stock, valued at $7,709,257.98. The trade was a 17.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock valued at $18,941,368 in the last quarter. 2.20% of the stock is currently owned by company insiders.

Tyler Technologies Stock Performance

TYL opened at $648.18 on Friday. 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, Inc. has a 12-month low of $397.80 and a 12-month high of $661.31. The firm has a 50 day moving average of $595.47 and a two-hundred day moving average of $593.32. The firm has a market capitalization of $27.74 billion, a PE ratio of 118.28, a P/E/G ratio of 4.78 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. On average, analysts anticipate that Tyler Technologies, Inc. will post 7.36 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TYL. Piper Sandler increased their target price on shares of Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Barclays raised their price objective on Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Robert W. Baird increased their price target on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. JMP Securities boosted their price target on Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research note on Friday, October 25th. Finally, StockNews.com lowered shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Tyler Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $645.69.

About Tyler Technologies

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.