Tyler Technologies, Inc. (NYSE:TYL) Position Trimmed by Alliancebernstein L.P.

Alliancebernstein L.P. decreased its position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 1.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,485 shares of the technology company's stock after selling 695 shares during the quarter. Alliancebernstein L.P. owned 0.11% of Tyler Technologies worth $26,805,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in Tyler Technologies in the fourth quarter worth $528,465,000. Van ECK Associates Corp lifted its position in shares of Tyler Technologies by 1,991.8% in the 4th quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company's stock worth $317,486,000 after buying an additional 524,259 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Tyler Technologies in the 4th quarter valued at about $159,947,000. JPMorgan Chase & Co. grew its position in shares of Tyler Technologies by 148.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company's stock valued at $269,369,000 after buying an additional 275,511 shares during the last quarter. Finally, Seilern Investment Management Ltd bought a new stake in shares of Tyler Technologies during the 4th quarter valued at about $105,549,000. 93.30% of the stock is currently owned by institutional investors.

Tyler Technologies Price Performance

Shares of Tyler Technologies stock traded up $10.83 on Friday, hitting $568.42. The company had a trading volume of 209,332 shares, compared to its average volume of 253,846. Tyler Technologies, Inc. has a 52 week low of $397.80 and a 52 week high of $661.31. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21. The company has a market cap of $24.50 billion, a PE ratio of 93.80, a PEG ratio of 4.93 and a beta of 0.84. The business has a 50-day simple moving average of $590.08 and a 200-day simple moving average of $595.48.

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Tyler Technologies (NYSE:TYL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.44 by ($0.57). Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. Research analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Barclays lifted their target price on Tyler Technologies from $705.00 to $715.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. DA Davidson restated a "neutral" rating and set a $575.00 price objective on shares of Tyler Technologies in a research note on Thursday, January 30th. Truist Financial reiterated a "buy" rating and issued a $775.00 target price (up from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. Needham & Company LLC restated a "buy" rating and set a $700.00 price target on shares of Tyler Technologies in a research report on Tuesday, January 21st. Finally, The Goldman Sachs Group increased their price objective on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $676.25.

Insider Buying and Selling

In other news, insider John S. Marr, Jr. sold 6,000 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the completion of the sale, the insider now owns 6,983 shares in the company, valued at approximately $4,322,477. This represents a 46.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian K. Miller sold 1,550 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $613.58, for a total value of $951,049.00. Following the sale, the chief financial officer now directly owns 14,026 shares of the company's stock, valued at approximately $8,606,073.08. This represents a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,064 shares of company stock valued at $8,688,030 over the last three months. Company insiders own 2.20% of the company's stock.

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.