DF Dent & Co. Inc. Trims Stake in Tyler Technologies, Inc. (NYSE:TYL)

DF Dent & Co. Inc. trimmed its stake in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 1.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,431 shares of the technology company's stock after selling 1,441 shares during the period. DF Dent & Co. Inc. owned about 0.24% of Tyler Technologies worth $59,643,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank purchased a new stake in shares of Tyler Technologies in the 4th quarter valued at approximately $528,465,000. Van ECK Associates Corp increased its position in 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 purchasing an additional 524,259 shares during the last quarter. Raymond James Financial Inc. bought a new position in Tyler Technologies during the fourth quarter valued at approximately $159,947,000. JPMorgan Chase & Co. boosted its holdings in Tyler Technologies by 148.2% in the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company's stock worth $269,369,000 after purchasing an additional 275,511 shares in the last quarter. Finally, Seilern Investment Management Ltd acquired a new stake in shares of Tyler Technologies in the fourth quarter worth about $105,549,000. Institutional investors and hedge funds own 93.30% of the company's stock.

Insider Buying and Selling

In other news, CFO Brian K. Miller sold 1,550 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $613.58, for a total value of $951,049.00. Following the completion of the transaction, the chief financial officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $619.00, for a total value of $3,714,000.00. Following the completion of the transaction, the insider now directly owns 6,983 shares in the company, valued at approximately $4,322,477. This represents a 46.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,064 shares of company stock valued at $8,688,030 over the last 90 days. 2.20% of the stock is owned by corporate insiders.

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Wall Street Analysts Forecast Growth

Several brokerages have commented on TYL. Needham & Company LLC reaffirmed a "buy" rating and issued a $700.00 price target on shares of Tyler Technologies in a research report on Tuesday, January 21st. DA Davidson reiterated a "neutral" rating and issued a $575.00 price objective on shares of Tyler Technologies in a research report on Thursday, January 30th. Truist Financial reissued a "buy" rating and issued a $775.00 target price (up previously from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. Barclays increased their price target on Tyler Technologies from $705.00 to $715.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Finally, StockNews.com raised Tyler Technologies from a "hold" rating to a "buy" rating in a research note on Thursday, April 3rd. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $676.25.

Tyler Technologies Stock Performance

Shares of TYL traded up $0.56 during trading hours on Tuesday, hitting $535.59. The company had a trading volume of 84,742 shares, compared to its average volume of 251,170. The business has a fifty day moving average of $596.91 and a 200-day moving average of $597.02. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. The firm has a market cap of $23.09 billion, a price-to-earnings ratio of 88.79, a PEG ratio of 4.93 and a beta of 0.84. Tyler Technologies, Inc. has a 12 month low of $397.80 and a 12 month high of $661.31.

Tyler Technologies (NYSE:TYL - Get Free Report) last released its quarterly 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 return on equity of 10.15% and a net margin of 12.30%. Equities analysts anticipate that Tyler Technologies, Inc. will post 8.52 EPS 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.