Kayne Anderson Rudnick Investment Management LLC Sells 516 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Kayne Anderson Rudnick Investment Management LLC lessened its holdings in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 45,473 shares of the technology company's stock after selling 516 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 0.11% of Tyler Technologies worth $26,222,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Larson Financial Group LLC increased its stake in Tyler Technologies by 221.4% in the fourth 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 bought a new stake in Tyler Technologies during the 4th quarter valued at $32,000. Brown Brothers Harriman & Co. lifted its holdings in shares of 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 buying an additional 42 shares in the last quarter. OFI Invest Asset Management bought a new position in Tyler Technologies in the 4th quarter worth about $41,000. Finally, Smithfield Trust Co increased its stake in Tyler Technologies by 55.6% in the fourth quarter. Smithfield Trust Co now owns 84 shares of the technology company's stock valued at $48,000 after acquiring an additional 30 shares during the last quarter. 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 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 completion of 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total value of $4,022,981.26. Following the completion of the sale, the chief executive officer now directly owns 75,734 shares of the company's stock, valued at approximately $46,772,561.06. The trade was a 7.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,064 shares of company stock valued at $8,688,030. 1.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. Truist Financial restated a "buy" rating and issued a $775.00 price objective (up from $685.00) on shares of Tyler Technologies in a report on Friday, February 14th. Barclays reduced their target price on shares of Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating for the company in a report on Friday. Piper Sandler reduced their price objective on shares of Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating on the stock in a research report on Friday. Robert W. Baird lowered their target price on Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating for the company in a research report on Friday. Finally, Wells Fargo & Company reduced their target price on shares of Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $675.08.

Tyler Technologies Price Performance

Shares of TYL stock traded down $6.70 during trading hours on Friday, hitting $523.80. The company had a trading volume of 543,657 shares, compared to its average volume of 256,792. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. The firm's fifty day moving average is $579.67 and its 200 day moving average is $594.40. Tyler Technologies, Inc. has a 12 month low of $435.03 and a 12 month high of $661.31. The firm has a market capitalization of $22.58 billion, a price-to-earnings ratio of 86.44, a PEG ratio of 4.93 and a beta of 0.84.

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

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.