Fifth Third Bancorp Sells 49 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Fifth Third Bancorp lessened its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 4.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,156 shares of the technology company’s stock after selling 49 shares during the period. Fifth Third Bancorp’s holdings in Tyler Technologies were worth $667,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of TYL. Oak Thistle LLC boosted its holdings in Tyler Technologies by 213.7% in the 4th quarter. Oak Thistle LLC now owns 2,328 shares of the technology company’s stock worth $1,342,000 after buying an additional 1,586 shares during the period. Aigen Investment Management LP bought a new position in shares of Tyler Technologies in the third quarter worth $1,309,000. Maiden Cove Capital LLC bought a new stake in shares of Tyler Technologies during the 3rd quarter valued at $583,000. Assetmark Inc. lifted its holdings in Tyler Technologies by 9.4% during the 3rd quarter. Assetmark Inc. now owns 9,910 shares of the technology company’s stock worth $5,785,000 after purchasing an additional 854 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Tyler Technologies in the 3rd quarter worth about $569,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TYL shares. DA Davidson upped their price target on Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. StockNews.com cut shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Needham & Company LLC reissued a “buy” rating and set a $700.00 price objective on shares of Tyler Technologies in a report on Tuesday, January 21st. Oppenheimer raised their target price on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, Truist Financial reissued a “buy” rating and issued a $685.00 price target (up previously from $600.00) on shares of Tyler Technologies in a research note on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $643.77.

Tyler Technologies Stock Performance

NYSE TYL opened at $608.09 on Thursday. The company has a 50-day simple moving average of $598.59 and a two-hundred day simple moving average of $588.22. Tyler Technologies, Inc. has a 12-month low of $397.80 and a 12-month high of $638.56. The firm has a market cap of $26.03 billion, a price-to-earnings ratio of 110.97, a PEG ratio of 4.55 and a beta of 0.78. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $602.72, for a total value of $1,808,160.00. Following the completion of the sale, the chief financial officer now owns 11,950 shares in the company, valued at approximately $7,202,504. The trade was a 20.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $605.82, for a total transaction of $3,786,375.00. Following the completion of the transaction, the chief executive officer now owns 75,000 shares in the company, valued at $45,436,500. This represents a 7.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,252 shares of company stock worth $26,096,928 in the last ninety days. 2.20% of the stock is owned by company insiders.

Tyler Technologies Company 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.