Chevy Chase Trust Holdings LLC Has $11.66 Million Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Chevy Chase Trust Holdings LLC cut its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 0.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,181 shares of the technology company’s stock after selling 147 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Tyler Technologies worth $11,655,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TYL. International Assets Investment Management LLC grew its stake in Tyler Technologies by 41,712.0% in the fourth quarter. International Assets Investment Management LLC now owns 52,265 shares of the technology company’s stock valued at $21,853,000 after acquiring an additional 52,140 shares during the period. Commonwealth Equity Services LLC grew its stake in Tyler Technologies by 119.2% in the first quarter. Commonwealth Equity Services LLC now owns 6,517 shares of the technology company’s stock valued at $2,770,000 after acquiring an additional 3,544 shares during the period. Bessemer Group Inc. grew its stake in Tyler Technologies by 39.4% in the first quarter. Bessemer Group Inc. now owns 6,840 shares of the technology company’s stock valued at $2,906,000 after acquiring an additional 1,935 shares during the period. Rafferty Asset Management LLC grew its stake in Tyler Technologies by 26.8% in the fourth quarter. Rafferty Asset Management LLC now owns 13,972 shares of the technology company’s stock valued at $5,842,000 after acquiring an additional 2,951 shares during the period. Finally, APG Asset Management US Inc. acquired a new position in Tyler Technologies in the fourth quarter valued at about $57,493,000. 93.30% of the stock is owned by institutional investors and hedge funds.

Tyler Technologies Stock Performance

NYSE:TYL traded up $2.15 on Wednesday, hitting $578.78. The company’s stock had a trading volume of 51,757 shares, compared to its average volume of 223,492. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.19. The stock has a fifty day moving average of $530.50 and a two-hundred day moving average of $474.82. The firm has a market capitalization of $24.57 billion, a P/E ratio of 130.94, a price-to-earnings-growth ratio of 5.36 and a beta of 0.76. Tyler Technologies, Inc. has a one year low of $361.16 and a one year high of $593.50.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.06. The firm had revenue of $540.98 million for the quarter, compared to analyst estimates of $541.01 million. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.53 earnings per share. Research analysts predict that Tyler Technologies, Inc. will post 7.23 earnings per share for the current year.

Insider Activity

In other news, Director Daniel M. Pope sold 275 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $578.26, for a total value of $159,021.50. Following the transaction, the director now owns 3,218 shares of the company’s stock, valued at $1,860,840.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Daniel M. Pope sold 275 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $578.26, for a total transaction of $159,021.50. Following the sale, the director now owns 3,218 shares of the company’s stock, valued at $1,860,840.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John S. Marr, Jr. sold 6,000 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $481.99, for a total value of $2,891,940.00. Following the sale, the insider now directly owns 6,983 shares in the company, valued at approximately $3,365,736.17. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,325 shares of company stock valued at $8,173,368. 2.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TYL shares. Piper Sandler boosted their target price on Tyler Technologies from $529.00 to $625.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Wells Fargo & Company boosted their price target on Tyler Technologies from $580.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Evercore ISI upgraded Tyler Technologies to a “hold” rating in a report on Friday, July 26th. DA Davidson boosted their price target on Tyler Technologies from $456.00 to $525.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, Oppenheimer boosted their price target on Tyler Technologies from $550.00 to $625.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $582.31.

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.