Tyler Technologies, Inc. (NYSE:TYL) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 191,494 shares of the technology company's stock after selling 2,334 shares during the period. California Public Employees Retirement System owned about 0.45% of Tyler Technologies worth $110,423,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in TYL. Larson Financial Group LLC raised its holdings in shares of Tyler Technologies by 221.4% in the 4th quarter. Larson Financial Group LLC now owns 45 shares of the technology company's stock valued at $26,000 after purchasing an additional 31 shares in the last quarter. Sierra Ocean LLC purchased a new position in Tyler Technologies in the fourth quarter valued at $32,000. Brown Brothers Harriman & Co. raised its stake in Tyler Technologies by 300.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company's stock valued at $32,000 after buying an additional 42 shares in the last quarter. OFI Invest Asset Management purchased a new stake in Tyler Technologies during the 4th quarter worth about $41,000. Finally, Smithfield Trust Co boosted its position in shares of Tyler Technologies by 55.6% during the 4th quarter. Smithfield Trust Co now owns 84 shares of the technology company's stock worth $48,000 after acquiring an additional 30 shares in the last quarter. Institutional investors and hedge funds own 93.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TYL shares. Piper Sandler raised their target price on Tyler Technologies from $701.00 to $747.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. The Goldman Sachs Group boosted their price objective on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $615.00 target price (down from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. Needham & Company LLC reiterated a "buy" rating and set a $700.00 price target on shares of Tyler Technologies in a research note on Tuesday, January 21st. Finally, Truist Financial restated a "buy" rating and issued a $775.00 price objective (up previously from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $676.25.

Remove Ads

Insider Buying and Selling at Tyler Technologies

In related news, CFO Brian K. Miller sold 1,550 shares of Tyler Technologies stock in a transaction that occurred 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 in the company, valued at $8,606,073.08. The trade was a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $617.59, for a total value of $4,022,981.26. Following the completion of the transaction, the chief executive officer now owns 75,734 shares of the company's stock, valued at $46,772,561.06. The trade was a 7.92 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,064 shares of company stock valued at $8,688,030. 2.20% of the stock is owned by company insiders.

Tyler Technologies Stock Performance

Shares of NYSE TYL traded down $30.28 during midday trading on Friday, reaching $539.40. 475,644 shares of the company were exchanged, compared to its average volume of 251,072. The stock has a market cap of $23.25 billion, a P/E ratio of 89.01, a PEG ratio of 4.93 and a beta of 0.84. Tyler Technologies, Inc. has a 1 year low of $397.80 and a 1 year high of $661.31. The stock has a fifty day simple moving average of $598.37 and a 200 day simple moving average of $597.21. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18.

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

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.