CIBC Private Wealth Group LLC Sells 557 Shares of Tyler Technologies, Inc. (NYSE:TYL)

CIBC Private Wealth Group LLC trimmed its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 4.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,068 shares of the technology company’s stock after selling 557 shares during the period. CIBC Private Wealth Group LLC’s holdings in Tyler Technologies were worth $6,367,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Tyler Technologies by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 5,310,401 shares of the technology company’s stock valued at $3,062,190,000 after purchasing an additional 62,420 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Tyler Technologies by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,108,908 shares of the technology company’s stock worth $645,585,000 after purchasing an additional 24,284 shares in the last quarter. Norges Bank acquired a new stake in shares of Tyler Technologies in the 4th quarter valued at approximately $528,465,000. Franklin Resources Inc. grew its stake in shares of Tyler Technologies by 2.0% in the third quarter. Franklin Resources Inc. now owns 912,746 shares of the technology company’s stock valued at $547,354,000 after buying an additional 17,943 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in Tyler Technologies by 1,991.8% during the fourth quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock worth $317,486,000 after buying an additional 524,259 shares during the last quarter. Institutional investors own 93.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. DA Davidson reiterated a “neutral” rating and issued a $575.00 price target on shares of Tyler Technologies in a research note on Thursday, January 30th. Barclays lifted their price target on Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Truist Financial restated a “buy” rating and issued a $775.00 price objective (up previously from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. Wells Fargo & Company reiterated an “equal weight” rating and set a $615.00 target price (down from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. Finally, StockNews.com cut Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Monday, February 24th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $676.25.

Tyler Technologies Stock Performance

Shares of NYSE TYL opened at $584.30 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21. The firm has a market cap of $25.19 billion, a price-to-earnings ratio of 96.42, a P/E/G ratio of 4.93 and a beta of 0.80. The stock’s fifty day moving average price is $599.99 and its two-hundred day moving average price is $597.72. Tyler Technologies, Inc. has a one year low of $397.80 and a one year high of $661.31.

Tyler Technologies (NYSE:TYL) last announced 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 net margin of 12.30% and a return on equity of 10.15%. On average, equities analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,514 shares of the firm’s 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 transaction, the chief executive officer now directly owns 75,734 shares of the company’s stock, valued at $46,772,561.06. This trade represents a 7.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian K. Miller sold 1,550 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $613.58, for a total value of $951,049.00. Following the transaction, the chief financial officer now directly owns 14,026 shares of the company’s stock, valued at $8,606,073.08. This trade represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,064 shares of company stock valued at $8,688,030. 2.20% of the stock is currently owned by company insiders.

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.