BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Trims Stake in Tyler Technologies, Inc. (NYSE:TYL)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 12.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,083 shares of the technology company's stock after selling 1,013 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Tyler Technologies were worth $4,134,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. SG Americas Securities LLC increased its stake in Tyler Technologies by 18.3% in the 2nd quarter. SG Americas Securities LLC now owns 8,117 shares of the technology company's stock worth $4,081,000 after purchasing an additional 1,255 shares during the period. Aigen Investment Management LP purchased a new position in Tyler Technologies in the 3rd quarter worth approximately $1,309,000. Vaughan Nelson Investment Management L.P. increased its stake in shares of Tyler Technologies by 21.5% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 123,253 shares of the technology company's stock valued at $61,969,000 after buying an additional 21,818 shares during the period. Swedbank AB purchased a new position in shares of Tyler Technologies during the second quarter valued at approximately $251,390,000. Finally, Maiden Cove Capital LLC purchased a new position in shares of Tyler Technologies during the third quarter valued at approximately $583,000. 93.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TYL has been the topic of several research analyst reports. Truist Financial reissued a "buy" rating and set a $685.00 target price (up from $600.00) on shares of Tyler Technologies in a research note on Friday, October 25th. Barclays lifted their price target on Tyler Technologies from $700.00 to $705.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. StockNews.com upgraded Tyler Technologies from a "hold" rating to a "buy" rating in a research report on Thursday, November 28th. Piper Sandler lifted their price target on Tyler Technologies from $625.00 to $701.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Finally, Robert W. Baird lifted their price target on Tyler Technologies from $625.00 to $700.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Tyler Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $642.62.

Insider Activity

In other news, insider John S. Marr, Jr. sold 12,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $613.66, for a total value of $7,363,920.00. Following the sale, the insider now directly owns 6,983 shares in the company, valued at approximately $4,285,187.78. This represents a 63.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Brian K. Miller sold 3,000 shares of the 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 disclosure for this sale can be found here. Insiders sold 40,350 shares of company stock valued at $24,361,172 in the last ninety days. Insiders own 1.50% of the company's stock.

Tyler Technologies Stock Performance

Shares of NYSE:TYL traded up $12.84 during midday trading on Wednesday, reaching $635.69. 188,013 shares of the company's stock traded hands, compared to its average volume of 234,628. The company has a market cap of $27.21 billion, a price-to-earnings ratio of 115.41, a P/E/G ratio of 5.66 and a beta of 0.76. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21. Tyler Technologies, Inc. has a one year low of $397.80 and a one year high of $637.53. The stock has a 50 day moving average of $601.74 and a 200 day moving average of $559.18.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, topping analysts' consensus estimates of $2.43 by $0.09. The business had revenue of $543.34 million during the quarter, compared to analysts' expectations of $547.34 million. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The business's quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.66 earnings per share. As a group, equities research analysts anticipate that Tyler Technologies, Inc. will post 7.36 EPS for the current fiscal year.

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.