Sumitomo Mitsui Trust Holdings Inc. Sells 2,723 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Sumitomo Mitsui Trust Holdings Inc. trimmed its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,646 shares of the technology company’s stock after selling 2,723 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Tyler Technologies were worth $42,082,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. American Century Companies Inc. raised its stake in Tyler Technologies by 13.1% during the 1st quarter. American Century Companies Inc. now owns 1,328 shares of the technology company’s stock worth $591,000 after buying an additional 154 shares during the period. Panagora Asset Management Inc. increased its holdings in shares of Tyler Technologies by 69.1% in the first quarter. Panagora Asset Management Inc. now owns 2,431 shares of the technology company’s stock worth $1,082,000 after acquiring an additional 993 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Tyler Technologies by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,483 shares of the technology company’s stock worth $2,439,000 after purchasing an additional 340 shares during the period. Raymond James Trust N.A. lifted its holdings in shares of Tyler Technologies by 4.3% during the 1st quarter. Raymond James Trust N.A. now owns 1,047 shares of the technology company’s stock valued at $466,000 after purchasing an additional 43 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Tyler Technologies by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 118,419 shares of the technology company’s stock valued at $52,683,000 after purchasing an additional 934 shares during the period. Institutional investors and hedge funds own 93.30% of the company’s stock.

Insiders Place Their Bets

In other news, insider John S. Marr, Jr. sold 6,500 shares of Tyler Technologies stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $437.49, for a total value of $2,843,685.00. Following the completion of the transaction, the insider now owns 6,400 shares of the company’s stock, valued at approximately $2,799,936. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider John S. Marr, Jr. sold 6,500 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $437.49, for a total value of $2,843,685.00. Following the sale, the insider now directly owns 6,400 shares of the company’s stock, valued at approximately $2,799,936. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO H Lynn Moore, Jr. sold 7,500 shares of Tyler Technologies stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $435.19, for a total value of $3,263,925.00. Following the transaction, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $32,639,250. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,608 shares of company stock valued at $21,974,819. 2.20% of the stock is currently owned by corporate insiders.

Tyler Technologies Price Performance

NYSE:TYL opened at $403.35 on Friday. Tyler Technologies, Inc. has a 52-week low of $361.16 and a 52-week high of $454.74. The company has a market cap of $17.12 billion, a P/E ratio of 103.69, a P/E/G ratio of 3.97 and a beta of 0.81. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 0.86. The stock’s 50-day simple moving average is $423.44 and its 200 day simple moving average is $413.63.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, February 14th. The technology company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.06. The firm had revenue of $480.94 million for the quarter, compared to analyst estimates of $483.34 million. Tyler Technologies had a return on equity of 8.85% and a net margin of 8.50%. As a group, sell-side analysts forecast that Tyler Technologies, Inc. will post 6.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on TYL shares. Piper Sandler raised their target price on shares of Tyler Technologies from $480.00 to $520.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. DA Davidson raised their price objective on shares of Tyler Technologies from $412.00 to $434.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. JMP Securities reaffirmed a “market outperform” rating and issued a $490.00 target price on shares of Tyler Technologies in a research note on Friday, February 16th. JPMorgan Chase & Co. lifted their price target on Tyler Technologies from $500.00 to $526.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Finally, Needham & Company LLC upped their price objective on Tyler Technologies from $475.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Tyler Technologies presently has an average rating of “Moderate Buy” and an average price target of $460.46.

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.