Cibc World Markets Corp Has $3.88 Million Stock Position in Tyler Technologies, Inc. (NYSE:TYL)

Cibc World Markets Corp grew its stake in Tyler Technologies, Inc. (NYSE:TYL) by 16.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,736 shares of the technology company’s stock after purchasing an additional 971 shares during the quarter. Cibc World Markets Corp’s holdings in Tyler Technologies were worth $3,884,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Larson Financial Group LLC lifted its stake in shares of Tyler Technologies by 221.4% in the 4th quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock valued at $26,000 after purchasing an additional 31 shares during the period. Sierra Ocean LLC acquired a new position in shares of Tyler Technologies in the 4th quarter valued at $32,000. OFI Invest Asset Management acquired a new position in shares of Tyler Technologies in the 4th quarter valued at $41,000. Smithfield Trust Co lifted its stake in shares of Tyler Technologies by 55.6% in the 4th quarter. Smithfield Trust Co now owns 84 shares of the technology company’s stock valued at $48,000 after purchasing an additional 30 shares during the period. Finally, Private Trust Co. NA raised its stake in Tyler Technologies by 51.8% during the 4th quarter. Private Trust Co. NA now owns 85 shares of the technology company’s stock worth $49,000 after buying an additional 29 shares during the period. Institutional investors and hedge funds own 93.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TYL. StockNews.com downgraded Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Monday, February 24th. Barclays raised their price objective on Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. DA Davidson reaffirmed a “neutral” rating and set a $575.00 price objective on shares of Tyler Technologies in a research note on Thursday, January 30th. The Goldman Sachs Group raised their price objective on Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $615.00 price objective (down previously from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $676.25.

Tyler Technologies Price Performance

Shares of NYSE TYL opened at $578.40 on Thursday. The stock has a market capitalization of $24.88 billion, a price-to-earnings ratio of 95.44, a PEG ratio of 4.93 and a beta of 0.80. The business has a 50-day moving average of $598.88 and a 200-day moving average of $598.17. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $661.31.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 earnings per share 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%. As a group, sell-side analysts predict that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the transaction, the insider now owns 6,983 shares of the company’s stock, valued at $4,322,477. The trade was a 46.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $617.59, for a total value of $4,022,981.26. Following the transaction, the chief executive officer now directly owns 75,734 shares in the company, valued at approximately $46,772,561.06. This trade represents a 7.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,064 shares of company stock valued at $8,688,030 over the last 90 days. 2.20% of the stock is currently owned by insiders.

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.