Oppenheimer Asset Management Inc. Cuts Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Oppenheimer Asset Management Inc. trimmed its stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 7.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,003 shares of the technology company's stock after selling 1,986 shares during the period. Oppenheimer Asset Management Inc. owned approximately 0.06% of Tyler Technologies worth $14,994,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in Tyler Technologies in the 3rd quarter valued at $27,000. Sierra Ocean LLC acquired a new stake in shares of Tyler Technologies during the fourth quarter worth $32,000. Quarry LP purchased a new position in Tyler Technologies in the 3rd quarter valued at $78,000. MassMutual Private Wealth & Trust FSB increased its stake in Tyler Technologies by 18.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the technology company's stock valued at $78,000 after buying an additional 21 shares during the period. Finally, Brooklyn Investment Group purchased a new position in Tyler Technologies during the 3rd quarter worth $79,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Tyler Technologies Price Performance

NYSE TYL traded down $2.68 during trading hours on Monday, reaching $605.75. The company's stock had a trading volume of 312,913 shares, compared to its average volume of 246,468. 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 company's 50-day moving average is $598.45 and its two-hundred day moving average is $597.85. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $661.31. The stock has a market cap of $26.06 billion, a PE ratio of 99.96, a PEG ratio of 4.93 and a beta of 0.78.

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 net margin of 12.30% and a return on equity of 10.15%. Analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TYL. Truist Financial reaffirmed a "buy" rating and issued a $775.00 target price (up previously from $685.00) on shares of Tyler Technologies in a report on Friday, February 14th. DA Davidson reiterated a "neutral" rating and set a $575.00 target price on shares of Tyler Technologies in a research report on Thursday, January 30th. Barclays raised their price target on Tyler Technologies from $705.00 to $715.00 and gave the company an "overweight" rating in a report on Friday, February 14th. The Goldman Sachs Group lifted their price target on Tyler Technologies from $660.00 to $728.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. Finally, StockNews.com downgraded Tyler Technologies from a "buy" rating to a "hold" rating in a report on Monday, February 24th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Tyler Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $676.25.

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 6,752 shares of the firm's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $613.75, for a total transaction of $4,144,040.00. Following the sale, the chief financial officer now directly owns 11,918 shares of the company's stock, valued at $7,314,672.50. This trade represents a 36.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the business'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 transaction of $4,022,981.26. Following the completion of the transaction, the chief executive officer now directly owns 75,734 shares of the company's stock, valued at approximately $46,772,561.06. This represents a 7.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,766 shares of company stock valued at $13,548,346 over the last three months. 2.20% of the stock is currently owned by insiders.

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.