Tyler Technologies, Inc. (NYSE:TYL) Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC cut its stake in Tyler Technologies, Inc. (NYSE:TYL) by 3.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 566 shares of the technology company’s stock after selling 18 shares during the period. Farther Finance Advisors LLC’s holdings in Tyler Technologies were worth $331,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Sierra Ocean LLC acquired a new position in shares of Tyler Technologies during the 4th quarter valued at $32,000. Sanctuary Advisors LLC grew its holdings in Tyler Technologies by 3.6% during the fourth quarter. Sanctuary Advisors LLC now owns 14,215 shares of the technology company’s stock worth $8,513,000 after acquiring an additional 499 shares during the period. CIBC Asset Management Inc grew its holdings in Tyler Technologies by 4.7% during the fourth quarter. CIBC Asset Management Inc now owns 6,500 shares of the technology company’s stock worth $3,748,000 after acquiring an additional 289 shares during the period. Handelsbanken Fonder AB grew its holdings in Tyler Technologies by 40.0% during the fourth quarter. Handelsbanken Fonder AB now owns 199,051 shares of the technology company’s stock worth $114,781,000 after acquiring an additional 56,900 shares during the period. Finally, TCW Group Inc. acquired a new position in Tyler Technologies during the fourth quarter worth about $36,099,000. 93.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on TYL shares. Piper Sandler lowered their price objective on shares of Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. Needham & Company LLC restated a “buy” rating and issued a $750.00 price target on shares of Tyler Technologies in a research report on Tuesday, May 13th. Wall Street Zen lowered shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. The Goldman Sachs Group lifted their price target 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 decreased their target price on Tyler Technologies from $700.00 to $695.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $680.50.

Insider Activity

In other Tyler Technologies news, Director Daniel M. Pope sold 365 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $550.00, for a total value of $200,750.00. Following the completion of the sale, the director now directly owns 2,853 shares of the company’s stock, valued at $1,569,150. The trade was a 11.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brian K. Miller sold 1,200 shares of the business’s stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $580.72, for a total transaction of $696,864.00. Following the completion of the sale, the chief financial officer now directly owns 13,772 shares of the company’s stock, valued at $7,997,675.84. This represents a 8.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,500 shares of company stock worth $15,177,230 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Tyler Technologies Trading Down 1.3%

Shares of TYL stock opened at $581.32 on Wednesday. Tyler Technologies, Inc. has a 1-year low of $463.84 and a 1-year high of $661.31. The company has a market capitalization of $25.07 billion, a price-to-earnings ratio of 87.55, a P/E/G ratio of 4.60 and a beta of 0.84. The stock’s fifty day simple moving average is $565.87 and its 200-day simple moving average is $583.97.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.22. The company had revenue of $562.43 million for the quarter, compared to analysts’ expectations of $556.45 million. Tyler Technologies had a return on equity of 10.29% and a net margin of 13.23%. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.20 EPS. On average, sell-side analysts predict that Tyler Technologies, Inc. will post 8.52 EPS 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.