Capital Investment Services of America Inc. Cuts Stock Position in Tyler Technologies, Inc. (NYSE:TYL)

Capital Investment Services of America Inc. trimmed its position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 6.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,396 shares of the technology company's stock after selling 3,873 shares during the period. Tyler Technologies makes up approximately 3.0% of Capital Investment Services of America Inc.'s holdings, making the stock its 10th largest holding. Capital Investment Services of America Inc. owned approximately 0.13% of Tyler Technologies worth $31,752,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Independence Bank of Kentucky acquired a new stake in Tyler Technologies during the second quarter worth $25,000. Covestor Ltd raised its stake in Tyler Technologies by 153.6% during the first quarter. Covestor Ltd now owns 71 shares of the technology company's stock worth $30,000 after acquiring an additional 43 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Tyler Technologies by 329.4% during the second quarter. Blue Trust Inc. now owns 73 shares of the technology company's stock valued at $37,000 after acquiring an additional 56 shares during the period. Lynx Investment Advisory acquired a new stake in shares of Tyler Technologies in the 2nd quarter valued at $38,000. Finally, Larson Financial Group LLC grew its holdings in shares of Tyler Technologies by 675.0% in the 1st quarter. Larson Financial Group LLC now owns 93 shares of the technology company's stock worth $40,000 after purchasing an additional 81 shares during the last quarter. Institutional investors and hedge funds own 93.30% of the company's stock.

Insiders Place Their Bets

In other news, CFO Brian K. Miller sold 2,000 shares of Tyler Technologies stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $567.96, for a total transaction of $1,135,920.00. Following the transaction, the chief financial officer now owns 11,950 shares in the company, valued at $6,787,122. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Tyler Technologies news, CFO Brian K. Miller sold 2,500 shares of Tyler Technologies stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $586.97, for a total value of $1,467,425.00. Following the sale, the chief financial officer now owns 11,950 shares of the company's stock, valued at $7,014,291.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Brian K. Miller sold 2,000 shares of the company's stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $567.96, for a total value of $1,135,920.00. Following the transaction, the chief financial officer now directly owns 11,950 shares of the company's stock, valued at $6,787,122. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,100 shares of company stock worth $16,890,717 over the last ninety days. 2.20% of the stock is currently owned by corporate insiders.

Tyler Technologies Trading Down 0.4 %

Shares of Tyler Technologies stock traded down $2.14 during trading on Monday, hitting $600.61. 150,036 shares of the company were exchanged, compared to its average volume of 228,285. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market capitalization of $25.71 billion, a P/E ratio of 109.56, a price-to-earnings-growth ratio of 5.46 and a beta of 0.77. The firm's fifty day moving average price is $588.09 and its 200 day moving average price is $535.35. Tyler Technologies, Inc. has a 1-year low of $397.80 and a 1-year high of $631.43.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.09. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. 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 business posted $1.66 earnings per share. The business's revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, sell-side analysts expect that Tyler Technologies, Inc. will post 7.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on TYL. Truist Financial restated a "buy" rating and issued a $685.00 price target (up from $600.00) on shares of Tyler Technologies in a research report on Friday, October 25th. The Goldman Sachs Group reiterated a "buy" rating and issued a $627.00 price objective on shares of Tyler Technologies in a research report on Friday, September 13th. BTIG Research raised their target price on Tyler Technologies from $550.00 to $630.00 and gave the company a "buy" rating in a research note on Friday, July 26th. Piper Sandler raised their price objective on shares of Tyler Technologies from $625.00 to $701.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Finally, DA Davidson increased their price target on shares of Tyler Technologies from $525.00 to $550.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, Tyler Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $642.62.

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.