M&T Bank Corp Reduces Holdings in Tyler Technologies, Inc. (NYSE:TYL)

M&T Bank Corp lessened its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 5.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,425 shares of the technology company’s stock after selling 401 shares during the quarter. M&T Bank Corp’s holdings in Tyler Technologies were worth $3,704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Atria Investments Inc lifted its holdings in Tyler Technologies by 22.0% during the 4th quarter. Atria Investments Inc now owns 4,295 shares of the technology company’s stock worth $2,477,000 after purchasing an additional 775 shares in the last quarter. Assetmark Inc. lifted its holdings in Tyler Technologies by 6.3% during the 4th quarter. Assetmark Inc. now owns 10,536 shares of the technology company’s stock worth $6,075,000 after purchasing an additional 626 shares in the last quarter. Smithfield Trust Co lifted its holdings in Tyler Technologies by 55.6% during the 4th quarter. Smithfield Trust Co now owns 84 shares of the technology company’s stock worth $48,000 after purchasing an additional 30 shares in the last quarter. Cookson Peirce & Co. Inc. purchased a new stake in Tyler Technologies during the 4th quarter worth about $10,367,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Tyler Technologies by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 291,788 shares of the technology company’s stock worth $168,257,000 after purchasing an additional 10,741 shares in the last quarter. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Barclays increased their price objective on Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. StockNews.com cut Tyler Technologies from a “buy” rating to a “hold” rating in a report on Monday, February 24th. Truist Financial restated a “buy” rating and issued a $775.00 target price (up from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. DA Davidson restated a “neutral” rating and issued a $575.00 target price on shares of Tyler Technologies in a research note on Thursday, January 30th. Finally, Piper Sandler upped their target price on Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $676.25.

Insider Activity

In related news, CFO Brian K. Miller sold 6,752 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $613.75, for a total transaction of $4,144,040.00. Following the completion of the sale, the chief financial officer now directly owns 11,918 shares in the company, valued at $7,314,672.50. This represents a 36.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total value of $4,022,981.26. Following the sale, the chief executive officer now owns 75,734 shares of the company’s stock, valued at $46,772,561.06. This represents a 7.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,816 shares of company stock worth $9,118,070. 2.20% of the stock is currently owned by insiders.

Tyler Technologies Price Performance

Shares of Tyler Technologies stock opened at $589.02 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $25.34 billion, a PE ratio of 97.20, a price-to-earnings-growth ratio of 4.93 and a beta of 0.80. The business’s 50-day moving average price is $599.93 and its 200-day moving average price is $598.58. Tyler Technologies, Inc. has a 12 month low of $397.80 and a 12 month high of $661.31.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. Sell-side analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

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.