Tyler Technologies, Inc. (NYSE:TYL) Shares Sold by Everence Capital Management Inc.

Everence Capital Management Inc. cut its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 48.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,820 shares of the technology company's stock after selling 1,720 shares during the period. Everence Capital Management Inc.'s holdings in Tyler Technologies were worth $1,049,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. GAMMA Investing LLC grew its stake in shares of Tyler Technologies by 36.8% in the 4th quarter. GAMMA Investing LLC now owns 1,520 shares of the technology company's stock worth $876,000 after acquiring an additional 409 shares in the last quarter. JPMorgan Chase & Co. grew its position in Tyler Technologies by 148.2% in the 3rd 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. Franklin Resources Inc. increased its stake in Tyler Technologies by 2.0% in the 3rd quarter. Franklin Resources Inc. now owns 912,746 shares of the technology company's stock valued at $547,354,000 after buying an additional 17,943 shares during the last quarter. Tidal Investments LLC lifted its position in shares of Tyler Technologies by 11.2% during the 3rd quarter. Tidal Investments LLC now owns 2,412 shares of the technology company's stock worth $1,408,000 after buying an additional 243 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Tyler Technologies in the 3rd quarter worth approximately $651,000. Institutional investors and hedge funds own 93.30% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Piper Sandler boosted their price objective on Tyler Technologies from $625.00 to $701.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. Barclays raised their price objective on shares of Tyler Technologies from $700.00 to $705.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. JMP Securities boosted their target price on shares of Tyler Technologies from $580.00 to $700.00 and gave the company a "market outperform" rating in a research note on Friday, October 25th. Oppenheimer raised their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Finally, Needham & Company LLC lifted their target price on shares of Tyler Technologies from $600.00 to $700.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $642.62.

Tyler Technologies Stock Performance

TYL stock traded up $9.50 during midday trading on Friday, hitting $584.17. 168,832 shares of the stock traded hands, compared to its average volume of 176,666. The stock's fifty day simple moving average is $608.52 and its 200-day simple moving average is $578.14. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. Tyler Technologies, Inc. has a 1-year low of $397.80 and a 1-year high of $638.56. The firm has a market cap of $25.00 billion, a P/E ratio of 106.60, a PEG ratio of 5.54 and a beta of 0.76.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The company had revenue of $543.34 million for the quarter, compared to analyst estimates of $547.34 million. During the same period last year, the company earned $1.66 earnings per share. Tyler Technologies's quarterly revenue was up 9.8% compared to the same quarter last year. On average, analysts expect that Tyler Technologies, Inc. will post 7.36 earnings per share for the current year.

Insider Transactions at Tyler Technologies

In related news, CFO Brian K. Miller sold 6,752 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $613.75, for a total value of $4,144,040.00. Following the completion of the sale, the chief financial officer now owns 11,918 shares of the company's stock, valued at approximately $7,314,672.50. This trade represents a 36.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John S. Marr, Jr. sold 6,000 shares of the business's stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $633.55, for a total value of $3,801,300.00. Following the transaction, the insider now directly owns 6,983 shares in the company, valued at $4,424,079.65. This trade represents a 46.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,252 shares of company stock valued at $26,096,928 over the last 90 days. Corporate insiders own 2.20% of the company's stock.

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.