Latitude Advisors LLC Has $4.97 Million Stake in Tyler Technologies, Inc. (NYSE:TYL)

Latitude Advisors LLC reduced its position in Tyler Technologies, Inc. (NYSE:TYL) by 12.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,610 shares of the technology company’s stock after selling 1,220 shares during the period. Tyler Technologies accounts for about 2.8% of Latitude Advisors LLC’s portfolio, making the stock its 5th largest position. Latitude Advisors LLC’s holdings in Tyler Technologies were worth $4,965,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TYL. Ashton Thomas Securities LLC acquired a new position in shares of Tyler Technologies during the third quarter valued at about $27,000. Quarry LP acquired a new position in Tyler Technologies during the 3rd quarter valued at approximately $78,000. MassMutual Private Wealth & Trust FSB raised its holdings 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 worth $78,000 after buying an additional 21 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Tyler Technologies during the third quarter worth $79,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Tyler Technologies during the third quarter valued at $82,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Brian K. Miller sold 2,500 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $632.01, for a total transaction of $1,580,025.00. Following the transaction, the chief financial officer now directly owns 12,198 shares in the company, valued at approximately $7,709,257.98. The trade was a 17.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John S. Marr, Jr. sold 12,000 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the completion of the sale, the insider now owns 6,983 shares of the company’s stock, valued at approximately $4,285,187.78. The trade was a 63.21 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,502 shares of company stock worth $18,941,368. Company insiders own 2.20% of the company’s stock.

Tyler Technologies Stock Performance

Shares of TYL stock opened at $612.18 on Tuesday. The business’s 50 day moving average is $596.22 and its two-hundred day moving average is $593.06. Tyler Technologies, Inc. has a 12-month low of $397.80 and a 12-month high of $638.56. The company has a market capitalization of $26.20 billion, a P/E ratio of 111.71, a P/E/G ratio of 4.78 and a beta of 0.78. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18.

Wall Street Analysts Forecast Growth

TYL has been the subject of a number of research reports. StockNews.com cut Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Piper Sandler lifted their target price on Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. DA Davidson reiterated a “neutral” rating and issued a $575.00 price target on shares of Tyler Technologies in a report on Thursday, January 30th. Truist Financial restated a “buy” rating and set a $685.00 price objective (up from $600.00) on shares of Tyler Technologies in a research note on Friday, October 25th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $615.00 price objective (down previously from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Tyler Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $645.69.

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.