Tyler Technologies, Inc. $TYL Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 97.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,385 shares of the technology company’s stock after selling 97,942 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Tyler Technologies were worth $760,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. IFP Advisors Inc boosted its stake in Tyler Technologies by 5.9% in the second quarter. IFP Advisors Inc now owns 573 shares of the technology company’s stock valued at $168,000 after acquiring an additional 32 shares during the last quarter. Empirical Finance LLC raised its position in shares of Tyler Technologies by 4.0% during the 2nd quarter. Empirical Finance LLC now owns 1,416 shares of the technology company’s stock valued at $414,000 after acquiring an additional 55 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its position in shares of Tyler Technologies by 75.0% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 147 shares of the technology company’s stock valued at $50,000 after acquiring an additional 63 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Tyler Technologies by 36.6% in the 2nd quarter. NewEdge Advisors LLC now owns 235 shares of the technology company’s stock valued at $69,000 after purchasing an additional 63 shares during the period. Finally, Raiffeisen Bank International AG lifted its stake in shares of Tyler Technologies by 259.3% in the 2nd quarter. Raiffeisen Bank International AG now owns 97 shares of the technology company’s stock valued at $28,000 after purchasing an additional 70 shares during the period. 93.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Zacks Research lowered Tyler Technologies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 2nd. BTIG Research increased their target price on Tyler Technologies from $400.00 to $430.00 and gave the company a “buy” rating in a research note on Friday, October 30th. UBS Group set a $395.00 target price on Tyler Technologies in a report on Saturday, August 1st. Weiss Ratings upgraded Tyler Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 22nd. Finally, DA Davidson reaffirmed a “buy” rating and issued a $460.00 price target on shares of Tyler Technologies in a research note on Tuesday, October 27th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $440.88.

Tyler Technologies Stock Performance

Shares of TYL stock opened at $420.33 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.33 and a current ratio of 1.33. Tyler Technologies, Inc. has a 52 week low of $270.71 and a 52 week high of $481.57. The company’s 50 day moving average price is $357.96 and its two-hundred day moving average price is $336.87. The company has a market capitalization of $16.71 billion, a P/E ratio of 52.94, a price-to-earnings-growth ratio of 2.77 and a beta of 0.74.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, October 28th. The technology company reported $3.52 earnings per share for the quarter, beating the consensus estimate of $3.48 by $0.04. Tyler Technologies had a net margin of 13.51% and a return on equity of 12.21%. The company had revenue of $647.57 million during the quarter, compared to analysts’ expectations of $651.38 million. During the same quarter in the prior year, the company earned $2.91 earnings per share. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, analysts expect that Tyler Technologies, Inc. will post 10.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tyler Technologies news, COO Jeffrey Puckett sold 10,000 shares of Tyler Technologies stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $419.69, for a total value of $4,196,900.00. Following the sale, the chief operating officer owned 7,800 shares of the company’s stock, valued at $3,273,582. This trade represents a 56.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO H Lynn Moore, Jr. sold 10,000 shares of the business’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $393.17, for a total value of $3,931,700.00. Following the completion of the sale, the chief executive officer owned 100,392 shares in the company, valued at approximately $39,471,122.64. This trade represents a 9.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 38,430 shares of company stock valued at $14,883,788. Company insiders own 1.10% of the company’s stock.

Tyler Technologies Profile

Tyler Technologies provides software and technology services primarily to public-sector organizations. Its customers include state and local governments, courts, public safety agencies, schools, and other public entities.

The company’s offerings include software for financial management, tax and property appraisal, courts and justice, public safety, education, utility billing, and permitting. Tyler also provides digital services such as online payments and tools for public access to government information.

Founded in 1966 and headquartered in Plano, Texas, Tyler Technologies serves customers mainly in the United States, with operations and customers in other markets as well.