Tyler Technologies, Inc. (NYSE:TYL) Shares Sold by Asset Dedication LLC

Asset Dedication LLC cut its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 57.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44 shares of the technology company’s stock after selling 59 shares during the quarter. Asset Dedication LLC’s holdings in Tyler Technologies were worth $26,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Independence Bank of Kentucky purchased a new position in Tyler Technologies in the second quarter worth approximately $25,000. Kapitalo Investimentos Ltda acquired a new position in shares of Tyler Technologies during the fourth quarter worth $26,000. Covestor Ltd increased its holdings in Tyler Technologies by 153.6% in the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock valued at $30,000 after buying an additional 43 shares during the last quarter. Blue Trust Inc. raised its stake in Tyler Technologies by 329.4% in the second quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock valued at $37,000 after buying an additional 56 shares in the last quarter. Finally, Lynx Investment Advisory purchased a new stake in Tyler Technologies during the 2nd quarter worth about $38,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Price Performance

Tyler Technologies stock opened at $588.43 on Friday. The company has a market cap of $25.11 billion, a P/E ratio of 121.58, a price-to-earnings-growth ratio of 5.55 and a beta of 0.78. Tyler Technologies, Inc. has a one year low of $361.16 and a one year high of $606.93. The business has a fifty day moving average of $583.57 and a two-hundred day moving average of $520.46. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.06 and a current ratio of 1.06.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.40 EPS for the quarter, beating the consensus estimate of $2.34 by $0.06. The firm had revenue of $540.98 million during the quarter, compared to analysts’ expectations of $541.01 million. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.53 earnings per share. As a group, analysts predict that Tyler Technologies, Inc. will post 7.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TYL has been the subject of a number of research analyst reports. The Goldman Sachs Group reissued a “buy” rating and issued a $627.00 target price on shares of Tyler Technologies in a research report on Friday, September 13th. Barclays raised shares of Tyler Technologies from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $577.00 to $700.00 in a report on Monday, October 7th. Wells Fargo & Company increased their price target on shares of Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. BTIG Research boosted their price target on Tyler Technologies from $550.00 to $630.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, JMP Securities increased their price objective on Tyler Technologies from $490.00 to $580.00 and gave the stock a “market outperform” rating in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $593.69.

Insider Activity

In related news, insider John S. Marr, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $578.94, for a total value of $2,894,700.00. Following the sale, the insider now owns 6,983 shares in the company, valued at $4,042,738.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Tyler Technologies news, insider John S. Marr, Jr. sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $578.94, for a total transaction of $2,894,700.00. Following the sale, the insider now directly owns 6,983 shares in the company, valued at approximately $4,042,738.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $576.49, for a total value of $3,603,062.50. Following the completion of the transaction, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $43,236,750. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 29,375 shares of company stock worth $17,049,739. Company insiders own 1.50% of the company’s stock.

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.