Citigroup Inc. Sells 4,964 Shares of Tyler Technologies, Inc. $TYL

Citigroup Inc. lowered its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 6.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,014 shares of the technology company’s stock after selling 4,964 shares during the quarter. Citigroup Inc. owned 0.16% of Tyler Technologies worth $35,059,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. DLD Asset Management LP bought a new stake in Tyler Technologies during the second quarter worth $5,780,190,000. Vanguard Group Inc. increased its position in shares of Tyler Technologies by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 5,805,036 shares of the technology company’s stock valued at $3,036,963,000 after purchasing an additional 234,916 shares during the last quarter. State Street Corp raised its stake in shares of Tyler Technologies by 4.5% during the 2nd quarter. State Street Corp now owns 1,913,672 shares of the technology company’s stock worth $1,134,501,000 after purchasing an additional 81,679 shares during the period. Principal Financial Group Inc. raised its stake in shares of Tyler Technologies by 11.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,410,640 shares of the technology company’s stock worth $738,010,000 after purchasing an additional 144,612 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Tyler Technologies by 2.6% in the 2nd quarter. Geode Capital Management LLC now owns 1,206,406 shares of the technology company’s stock worth $713,144,000 after buying an additional 30,686 shares during the last quarter. 93.30% of the stock is owned by institutional investors.

Tyler Technologies Price Performance

Shares of TYL stock opened at $324.22 on Wednesday. The stock has a market capitalization of $13.94 billion, a price-to-earnings ratio of 45.03, a PEG ratio of 2.12 and a beta of 0.91. The company’s fifty day simple moving average is $403.92 and its two-hundred day simple moving average is $471.67. Tyler Technologies, Inc. has a 1 year low of $283.71 and a 1 year high of $626.56.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, February 11th. The technology company reported $2.64 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.07). The company had revenue of $575.18 million during the quarter, compared to analysts’ expectations of $591.09 million. Tyler Technologies had a net margin of 13.53% and a return on equity of 10.42%. Tyler Technologies’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.43 earnings per share. Equities research analysts anticipate that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Insider Transactions at Tyler Technologies

In other news, insider Abigail Marshall Diaz-Pedrosa acquired 610 shares of the business’s stock in a transaction dated Friday, February 20th. The stock was bought at an average cost of $325.08 per share, for a total transaction of $198,298.80. Following the completion of the transaction, the insider owned 1,123 shares of the company’s stock, valued at $365,064.84. The trade was a 118.91% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Brian K. Miller sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $448.51, for a total transaction of $448,510.00. Following the transaction, the chief financial officer directly owned 17,148 shares of the company’s stock, valued at approximately $7,691,049.48. This represents a 5.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 2,500 shares of company stock valued at $1,136,525. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TYL shares. Oppenheimer decreased their price objective on shares of Tyler Technologies from $510.00 to $450.00 and set an “outperform” rating for the company in a report on Friday, February 13th. Weiss Ratings restated a “hold (c)” rating on shares of Tyler Technologies in a research note on Friday, January 9th. Wells Fargo & Company lowered their price target on shares of Tyler Technologies from $420.00 to $335.00 and set an “equal weight” rating on the stock in a report on Friday, February 13th. Piper Sandler reissued an “overweight” rating and set a $543.00 price objective (down from $671.00) on shares of Tyler Technologies in a report on Friday, February 13th. Finally, TD Cowen decreased their target price on Tyler Technologies from $600.00 to $500.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $467.54.

Tyler Technologies Profile

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler’s product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.