Janney Montgomery Scott LLC Lowers Stake in Tyler Technologies, Inc. (NYSE:TYL)

Janney Montgomery Scott LLC decreased its position in Tyler Technologies, Inc. (NYSE:TYL) by 3.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,694 shares of the technology company’s stock after selling 338 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Tyler Technologies were worth $6,242,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Private Advisor Group LLC raised its holdings in shares of Tyler Technologies by 40.4% in the 1st quarter. Private Advisor Group LLC now owns 1,143 shares of the technology company’s stock valued at $486,000 after buying an additional 329 shares during the period. Nordea Investment Management AB increased its stake in Tyler Technologies by 36.1% during the first quarter. Nordea Investment Management AB now owns 3,538 shares of the technology company’s stock worth $1,497,000 after purchasing an additional 938 shares during the period. Empirical Finance LLC lifted its position in shares of Tyler Technologies by 3.7% during the first quarter. Empirical Finance LLC now owns 1,390 shares of the technology company’s stock worth $591,000 after purchasing an additional 49 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of Tyler Technologies by 14.7% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 5,891 shares of the technology company’s stock worth $2,504,000 after purchasing an additional 755 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of Tyler Technologies by 49.7% in the first quarter. Empowered Funds LLC now owns 2,414 shares of the technology company’s stock valued at $1,026,000 after purchasing an additional 801 shares during the period. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Tyler Technologies Trading Up 1.3 %

NYSE TYL opened at $623.22 on Friday. The firm’s fifty day moving average price is $590.93 and its 200 day moving average price is $540.63. Tyler Technologies, Inc. has a 12 month low of $397.80 and a 12 month high of $631.43. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market capitalization of $26.67 billion, a price-to-earnings ratio of 113.73, a price-to-earnings-growth ratio of 5.44 and a beta of 0.77.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.43 by $0.09. The company had revenue of $543.34 million for the quarter, compared to analyst estimates of $547.34 million. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.66 earnings per share. On average, sell-side analysts expect that Tyler Technologies, Inc. will post 7.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tyler Technologies news, CFO Brian K. Miller sold 2,500 shares of Tyler Technologies stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $586.97, for a total value of $1,467,425.00. Following the transaction, the chief financial officer now directly owns 11,950 shares in the company, valued at approximately $7,014,291.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Tyler Technologies news, insider John S. Marr, Jr. sold 5,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 6,983 shares of the company’s stock, valued at approximately $4,042,738.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian K. Miller sold 2,500 shares of Tyler Technologies stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $586.97, for a total value of $1,467,425.00. Following the completion of the transaction, the chief financial officer now owns 11,950 shares in the company, valued at $7,014,291.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,100 shares of company stock worth $17,746,270 in the last 90 days. Company insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. DA Davidson raised their price target on shares of Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Barclays boosted their target price on Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. StockNews.com lowered Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Evercore ISI upgraded shares of Tyler Technologies to a “hold” rating in a research note on Friday, July 26th. Finally, Piper Sandler lifted their price target on shares of Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $642.62.

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.