Motley Fool Asset Management LLC Cuts Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Motley Fool Asset Management LLC trimmed its holdings in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 29.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,603 shares of the technology company's stock after selling 6,074 shares during the period. Motley Fool Asset Management LLC's holdings in Tyler Technologies were worth $8,421,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Tyler Technologies during the 4th quarter worth $528,465,000. Van ECK Associates Corp raised its stake in Tyler Technologies by 1,991.8% during the fourth 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 period. Raymond James Financial Inc. purchased a new position in Tyler Technologies during the fourth quarter worth about $159,947,000. JPMorgan Chase & Co. boosted its holdings in Tyler Technologies by 148.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company's stock valued at $269,369,000 after purchasing an additional 275,511 shares during the last quarter. Finally, Seilern Investment Management Ltd purchased a new stake in shares of Tyler Technologies in the 4th quarter valued at approximately $105,549,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Tyler Technologies Stock Performance

Shares of TYL traded up $0.49 during midday trading on Tuesday, reaching $535.52. 84,742 shares of the stock were exchanged, compared to its average volume of 251,170. The company has a market capitalization of $23.08 billion, a price-to-earnings ratio of 88.79, a PEG ratio of 4.93 and a beta of 0.84. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21. Tyler Technologies, Inc. has a twelve month low of $397.80 and a twelve month high of $661.31. The business's 50-day moving average price is $596.91 and its 200 day moving average price is $597.02.

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Tyler Technologies (NYSE:TYL - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 EPS 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%. On average, sell-side analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Insider Transactions at Tyler Technologies

In other Tyler Technologies 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 directly owns 14,026 shares of the company's stock, valued at approximately $8,606,073.08. This trade represents a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible 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 shares were sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the sale, the insider now owns 6,983 shares of the company's stock, valued at approximately $4,322,477. The trade was a 46.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 14,064 shares of company stock valued at $8,688,030. Corporate insiders own 2.20% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. The Goldman Sachs Group increased their price objective on Tyler Technologies from $660.00 to $728.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Piper Sandler raised their price objective on Tyler Technologies from $701.00 to $747.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Barclays upped their target price on shares of Tyler Technologies from $705.00 to $715.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. DA Davidson reissued a "neutral" rating and issued a $575.00 target price on shares of Tyler Technologies in a research report on Thursday, January 30th. Finally, Needham & Company LLC reissued a "buy" rating and set a $700.00 target price on shares of Tyler Technologies in a research note on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $676.25.

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.