Tyler Technologies, Inc. (NYSE:TYL) Stock Holdings Lowered by MetLife Investment Management LLC

MetLife Investment Management LLC cut its position in Tyler Technologies, Inc. (NYSE:TYL) by 2.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,734 shares of the technology company’s stock after selling 262 shares during the quarter. MetLife Investment Management LLC’s holdings in Tyler Technologies were worth $7,433,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TYL. Tidal Investments LLC grew its holdings in Tyler Technologies by 64.8% in the 1st quarter. Tidal Investments LLC now owns 2,953 shares of the technology company’s stock worth $1,253,000 after buying an additional 1,161 shares in the last quarter. Comerica Bank raised its position in shares of Tyler Technologies by 12.5% during the 1st quarter. Comerica Bank now owns 16,887 shares of the technology company’s stock worth $7,177,000 after buying an additional 1,876 shares in the last quarter. Atria Investments Inc lifted its stake in shares of Tyler Technologies by 4.4% in the 1st quarter. Atria Investments Inc now owns 3,768 shares of the technology company’s stock worth $1,601,000 after acquiring an additional 160 shares during the period. Cetera Investment Advisers increased its stake in shares of Tyler Technologies by 665.0% during the first quarter. Cetera Investment Advisers now owns 14,199 shares of the technology company’s stock valued at $6,035,000 after acquiring an additional 12,343 shares during the period. Finally, Cetera Advisors LLC lifted its position in Tyler Technologies by 592.2% in the first quarter. Cetera Advisors LLC now owns 4,243 shares of the technology company’s stock worth $1,803,000 after purchasing an additional 3,630 shares during the period. 93.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Brian K. Miller sold 2,500 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $624.41, for a total value of $1,561,025.00. Following the completion of the sale, the chief financial officer now owns 11,950 shares in the company, valued at approximately $7,461,699.50. This trade represents a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John S. Marr, Jr. sold 12,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $613.66, for a total value of $7,363,920.00. Following the transaction, the insider now owns 6,983 shares in the company, valued at $4,285,187.78. This represents a 63.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,100 shares of company stock valued at $22,309,090. 2.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Piper Sandler raised their target price on Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Barclays lifted their price objective on shares of Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Needham & Company LLC increased their target price on shares of Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Truist Financial restated a “buy” rating and set a $685.00 target price (up from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Finally, Oppenheimer upped their price target on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $642.62.

Tyler Technologies Stock Performance

Shares of TYL opened at $629.17 on Friday. The company has a market capitalization of $26.93 billion, a PE ratio of 114.81, a price-to-earnings-growth ratio of 5.71 and a beta of 0.77. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. Tyler Technologies, Inc. has a one year low of $397.80 and a one year high of $637.53. The company’s fifty day moving average price is $599.13 and its 200 day moving average price is $555.27.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The business had revenue of $543.34 million for the quarter, compared to analyst estimates of $547.34 million. During the same period in the previous year, the company posted $1.66 earnings per share. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, analysts expect that Tyler Technologies, Inc. will post 7.36 earnings per share for the current year.

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.