Teachers Retirement System of The State of Kentucky Sells 127 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Teachers Retirement System of The State of Kentucky trimmed its position in shares of Tyler Technologies, Inc. (NYSE:TYLGet Rating) by 4.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,923 shares of the technology company’s stock after selling 127 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Tyler Technologies were worth $1,300,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Private Advisor Group LLC raised its holdings in shares of Tyler Technologies by 90.0% during the fourth quarter. Private Advisor Group LLC now owns 836 shares of the technology company’s stock worth $449,000 after acquiring an additional 396 shares during the period. Schroder Investment Management Group increased its stake in Tyler Technologies by 5.4% in the 4th quarter. Schroder Investment Management Group now owns 6,508 shares of the technology company’s stock valued at $3,501,000 after buying an additional 335 shares during the last quarter. Gotham Asset Management LLC increased its stake in Tyler Technologies by 9.0% in the 4th quarter. Gotham Asset Management LLC now owns 2,749 shares of the technology company’s stock valued at $1,479,000 after buying an additional 227 shares during the last quarter. Siemens Fonds Invest GmbH acquired a new stake in Tyler Technologies in the 4th quarter valued at $227,000. Finally, Nissay Asset Management Corp Japan ADV increased its stake in Tyler Technologies by 5.0% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 4,421 shares of the technology company’s stock valued at $2,378,000 after buying an additional 212 shares during the last quarter. 89.42% of the stock is owned by institutional investors.

Tyler Technologies Stock Performance

Shares of TYL stock opened at $342.49 on Friday. The company has a market capitalization of $14.24 billion, a price-to-earnings ratio of 81.35 and a beta of 0.91. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.15 and a current ratio of 1.15. The company has a 50-day simple moving average of $381.56 and a 200 day simple moving average of $377.14. Tyler Technologies, Inc. has a 52 week low of $300.85 and a 52 week high of $557.55.

Tyler Technologies (NYSE:TYLGet Rating) last announced its earnings results on Wednesday, July 27th. The technology company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.83 by $0.05. The business had revenue of $468.70 million during the quarter, compared to the consensus estimate of $458.50 million. Tyler Technologies had a net margin of 9.84% and a return on equity of 10.26%. Tyler Technologies’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.42 EPS. On average, sell-side analysts predict that Tyler Technologies, Inc. will post 5.53 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on TYL shares. Barclays lowered their price target on shares of Tyler Technologies from $445.00 to $370.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 12th. Robert W. Baird lowered their price target on shares of Tyler Technologies from $600.00 to $500.00 in a research note on Friday, July 29th. DA Davidson lifted their price target on shares of Tyler Technologies to $460.00 in a research note on Tuesday, August 9th. Wolfe Research boosted their price objective on shares of Tyler Technologies from $400.00 to $460.00 and gave the stock an “outperform” rating in a research note on Monday, August 1st. Finally, Piper Sandler boosted their price objective on shares of Tyler Technologies from $405.00 to $468.00 and gave the stock an “overweight” rating in a research note on Friday, July 29th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $470.55.

Insider Buying and Selling

In related news, COO Jeffrey David Puckett sold 2,250 shares of Tyler Technologies stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $405.40, for a total transaction of $912,150.00. Following the completion of the sale, the chief operating officer now owns 5,169 shares of the company’s stock, valued at approximately $2,095,512.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is currently owned by insiders.

About Tyler Technologies

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Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. The company operates in three segments: Enterprise Software; Appraisal and Tax; and NIC. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools.

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Institutional Ownership by Quarter for Tyler Technologies (NYSE:TYL)

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