Toronto Dominion Bank Cuts Stock Position in Tyler Technologies, Inc. (NYSE:TYL)

Toronto Dominion Bank cut its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 98.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,885 shares of the technology company’s stock after selling 2,152,852 shares during the quarter. Toronto Dominion Bank owned 0.05% of Tyler Technologies worth $13,197,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of 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 worth $26,000 after acquiring an additional 31 shares during the period. Sierra Ocean LLC purchased a new position in Tyler Technologies during the fourth quarter worth about $32,000. Brown Brothers Harriman & Co. raised its holdings in Tyler Technologies by 300.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock worth $32,000 after purchasing an additional 42 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new stake in Tyler Technologies in the fourth quarter valued at about $40,000. Finally, OFI Invest Asset Management purchased a new stake in Tyler Technologies in the 4th quarter valued at approximately $41,000. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tyler Technologies

In other news, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction dated Thursday, March 6th. The shares were 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 in the company, 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 SEC, which is available through the SEC website. 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 shares were sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the completion of the transaction, the chief executive officer now directly owns 75,734 shares of the company’s stock, valued at approximately $46,772,561.06. This represents a 7.92% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,962 shares of company stock worth $13,702,451. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TYL. DA Davidson cut their target price on Tyler Technologies from $595.00 to $570.00 and set a “neutral” rating for the company in a research note on Friday, April 25th. Piper Sandler dropped their price objective on Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. StockNews.com upgraded Tyler Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, May 10th. The Goldman Sachs Group boosted their target price on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Finally, Barclays lowered their price target on shares of Tyler Technologies from $700.00 to $695.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tyler Technologies presently has an average rating of “Moderate Buy” and an average target price of $674.67.

Tyler Technologies Stock Performance

NYSE:TYL opened at $574.72 on Wednesday. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $24.78 billion, a P/E ratio of 94.84, a price-to-earnings-growth ratio of 4.93 and a beta of 0.88. The firm has a 50-day moving average price of $561.76 and a two-hundred day moving average price of $589.13. Tyler Technologies, Inc. has a twelve month low of $458.50 and a twelve month high of $661.31.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.56 by $0.22. Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. The business had revenue of $562.43 million for the quarter, compared to analyst estimates of $556.45 million. During the same period in the prior year, the business earned $2.20 earnings per share. The company’s quarterly revenue was up 10.3% on a year-over-year basis. As a group, research analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

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.