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

Guggenheim Capital LLC decreased its stake in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 62.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,949 shares of the technology company's stock after selling 3,289 shares during the period. Guggenheim Capital LLC's holdings in Tyler Technologies were worth $1,124,000 at the end of the most recent reporting period.

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

Tyler Technologies Price Performance

Shares of NYSE TYL traded down $6.70 during midday trading on Friday, reaching $523.80. 543,886 shares of the stock traded hands, compared to its average volume of 255,807. The company's 50 day moving average is $577.35 and its 200 day moving average is $593.91. Tyler Technologies, Inc. has a one year low of $452.57 and a one year high of $661.31. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21. The stock has a market capitalization of $22.58 billion, a PE ratio of 86.44, a P/E/G ratio of 4.93 and a beta of 0.84.

Tyler Technologies (NYSE:TYL - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 EPS 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 business had revenue of $562.43 million during the quarter, compared to analyst estimates of $556.45 million. During the same quarter last year, the business earned $2.20 earnings per share. On average, equities research analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TYL has been the topic of several recent research reports. Piper Sandler decreased their price objective on Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating on the stock in a research note on Friday. Needham & Company LLC reissued a "buy" rating and issued a $750.00 price objective on shares of Tyler Technologies in a research note on Thursday. StockNews.com upgraded shares of Tyler Technologies from a "hold" rating to a "buy" rating in a research note on Thursday. Barclays decreased their price target on Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating on the stock in a report on Friday. Finally, Robert W. Baird dropped their price objective on Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating for the company in a research note on Friday. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $674.67.

Insiders Place Their Bets

In other news, CFO Brian K. Miller sold 1,550 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $613.58, for a total value of $951,049.00. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now owns 75,734 shares of the company's stock, 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 have sold 14,064 shares of company stock valued at $8,688,030 over the last ninety days. 1.10% of the stock is owned by insiders.

Tyler Technologies Company 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.