Kentucky Retirement Systems Sells 41 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Kentucky Retirement Systems trimmed its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,932 shares of the technology company’s stock after selling 41 shares during the period. Kentucky Retirement Systems’ holdings in Tyler Technologies were worth $1,691,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. MassMutual Private Wealth & Trust FSB increased its stake in Tyler Technologies by 18.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the technology company’s stock valued at $78,000 after purchasing an additional 21 shares in the last quarter. Baron Wealth Management LLC increased its stake in Tyler Technologies by 1.5% in the fourth quarter. Baron Wealth Management LLC now owns 1,487 shares of the technology company’s stock valued at $857,000 after purchasing an additional 22 shares in the last quarter. Choreo LLC increased its stake in Tyler Technologies by 3.9% in the fourth quarter. Choreo LLC now owns 647 shares of the technology company’s stock valued at $374,000 after purchasing an additional 24 shares in the last quarter. Oak Ridge Investments LLC increased its stake in Tyler Technologies by 0.8% in the fourth quarter. Oak Ridge Investments LLC now owns 3,011 shares of the technology company’s stock valued at $1,736,000 after purchasing an additional 25 shares in the last quarter. Finally, Mather Group LLC. increased its stake in Tyler Technologies by 9.0% in the fourth quarter. Mather Group LLC. now owns 315 shares of the technology company’s stock valued at $182,000 after purchasing an additional 26 shares in the last quarter. 93.30% of the stock is owned by institutional investors.

Insider Transactions at Tyler Technologies

In related news, CFO Brian K. Miller sold 6,752 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $613.75, for a total transaction of $4,144,040.00. Following the transaction, the chief financial officer now directly owns 11,918 shares of the company’s stock, valued at approximately $7,314,672.50. This trade represents a 36.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John S. Marr, Jr. sold 12,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the transaction, the insider now directly owns 6,983 shares in the company, valued at approximately $4,285,187.78. This represents a 63.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,502 shares of company stock worth $18,941,368. 2.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have commented on TYL. Barclays upped their target price on shares of Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. DA Davidson reaffirmed a “neutral” rating and issued a $575.00 target price on shares of Tyler Technologies in a research note on Thursday, January 30th. Needham & Company LLC reissued a “buy” rating and set a $700.00 price objective on shares of Tyler Technologies in a research report on Tuesday, January 21st. Wells Fargo & Company reissued an “equal weight” rating and set a $615.00 price objective (down previously from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. Finally, Piper Sandler increased their price objective on shares of Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $676.25.

Tyler Technologies Stock Performance

NYSE TYL opened at $614.89 on Friday. The firm has a 50-day moving average of $597.53 and a 200-day moving average of $596.50. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. The stock has a market cap of $26.45 billion, a PE ratio of 101.47, a P/E/G ratio of 4.93 and a beta of 0.78. Tyler Technologies, Inc. has a 52-week low of $397.80 and a 52-week high of $661.31.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. On average, sell-side analysts anticipate that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

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.