Summit Investment Advisors Inc. Cuts Stake in Tyler Technologies, Inc. (NYSE:TYL)

Summit Investment Advisors Inc. lessened its stake in Tyler Technologies, Inc. (NYSE:TYL) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,968 shares of the technology company’s stock after selling 96 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Tyler Technologies were worth $3,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund raised its position in shares of Tyler Technologies by 0.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,668 shares of the technology company’s stock valued at $2,115,000 after purchasing an additional 20 shares during the period. Kensington Investment Counsel LLC raised its holdings in Tyler Technologies by 0.8% during the fourth quarter. Kensington Investment Counsel LLC now owns 2,496 shares of the technology company’s stock valued at $1,439,000 after acquiring an additional 20 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in shares of 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 acquiring an additional 21 shares in the last quarter. Baron Wealth Management LLC boosted its stake in shares of Tyler Technologies by 1.5% in the fourth quarter. Baron Wealth Management LLC now owns 1,487 shares of the technology company’s stock worth $857,000 after acquiring an additional 22 shares during the period. Finally, Choreo LLC grew its position in shares of Tyler Technologies by 3.9% during the fourth quarter. Choreo LLC now owns 647 shares of the technology company’s stock worth $374,000 after purchasing an additional 24 shares in the last quarter. Institutional investors own 93.30% of the company’s stock.

Wall Street Analysts Forecast Growth

TYL has been the subject of several recent analyst reports. The Goldman Sachs Group upped their price target on Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. StockNews.com lowered shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Friday. Wells Fargo & Company reiterated an “equal weight” rating and issued a $615.00 price target (down from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. 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. Finally, Barclays raised their price objective on Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $676.25.

Insider Buying and Selling

In related news, insider John S. Marr, Jr. sold 6,000 shares of the firm’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 completion of the sale, the insider now directly owns 6,983 shares of the company’s stock, valued at approximately $4,322,477. This trade represents a 46.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $613.58, for a total value of $951,049.00. Following the transaction, the chief financial officer now owns 14,026 shares of the company’s stock, valued at approximately $8,606,073.08. The trade was a 9.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,064 shares of company stock valued at $8,688,030. Company insiders own 2.20% of the company’s stock.

Tyler Technologies Trading Up 1.9 %

Shares of TYL stock opened at $568.42 on Monday. The company has a market cap of $24.50 billion, a PE ratio of 93.80, a price-to-earnings-growth ratio of 4.93 and a beta of 0.84. Tyler Technologies, Inc. has a 1 year low of $397.80 and a 1 year high of $661.31. The stock’s 50 day simple moving average is $590.08 and its two-hundred day simple moving average is $595.60. 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 (NYSE:TYL) last released its quarterly earnings results 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%. Research analysts predict that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

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.