Guggenheim Capital LLC Lowers Stock Position in Tyler Technologies, Inc. (NYSE:TYL)

Guggenheim Capital LLC lessened its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 62.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,949 shares of the technology company's stock after selling 3,289 shares during the quarter. Guggenheim Capital LLC's holdings in Tyler Technologies were worth $1,124,000 as of its most recent filing with the Securities & Exchange Commission.

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

Tyler Technologies Stock Performance

NYSE:TYL traded down $6.70 during mid-day trading on Friday, reaching $523.80. The company's stock had a trading volume of 543,886 shares, compared to its average volume of 255,807. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The stock has a market cap of $22.58 billion, a P/E ratio of 86.44, a PEG ratio of 4.93 and a beta of 0.84. The firm's fifty day moving average price is $577.35 and its two-hundred day moving average price is $593.91. Tyler Technologies, Inc. has a 12-month low of $452.57 and a 12-month high of $661.31.

Tyler Technologies (NYSE:TYL - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.22. Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. The firm had revenue of $562.43 million during the quarter, compared to analysts' expectations of $556.45 million. During the same period in the previous year, the company earned $2.20 earnings per share. On average, equities analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on TYL shares. DA Davidson decreased their price target on shares of Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating for the company in a research note on Friday. Needham & Company LLC reaffirmed a "buy" rating and set a $750.00 target price on shares of Tyler Technologies in a research note on Thursday. The Goldman Sachs Group boosted their price target on Tyler Technologies from $660.00 to $728.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Truist Financial restated a "buy" rating and issued a $775.00 price target (up previously from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. Finally, Piper Sandler lowered their price objective on Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating for the company in a research note on Friday. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $674.67.

Insider Buying and Selling

In other Tyler Technologies news, CFO Brian K. Miller sold 1,550 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $613.58, for a total transaction of $951,049.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the completion of the transaction, the chief executive officer now owns 75,734 shares in the company, valued at $46,772,561.06. This trade represents a 7.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,064 shares of company stock valued at $8,688,030 over the last 90 days. Company insiders own 1.10% 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.