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

Oppenheimer Asset Management Inc. decreased its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 5.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,989 shares of the technology company's stock after selling 1,617 shares during the period. Oppenheimer Asset Management Inc. owned about 0.07% of Tyler Technologies worth $16,338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Ashton Thomas Securities LLC purchased a new stake in Tyler Technologies during the third quarter valued at $27,000. Independence Bank of Kentucky bought a new position in Tyler Technologies during the second quarter valued at $25,000. Covestor Ltd raised its stake in shares of Tyler Technologies by 153.6% in the first quarter. Covestor Ltd now owns 71 shares of the technology company's stock valued at $30,000 after acquiring an additional 43 shares during the period. Blue Trust Inc. lifted its holdings in shares of Tyler Technologies by 329.4% in the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company's stock worth $37,000 after acquiring an additional 56 shares during the last quarter. Finally, Lynx Investment Advisory bought a new stake in shares of Tyler Technologies in the 2nd quarter worth about $38,000. Institutional investors own 93.30% of the company's stock.

Tyler Technologies Price Performance

Shares of NYSE:TYL traded down $2.59 during midday trading on Thursday, hitting $614.28. The company's stock had a trading volume of 233,635 shares, compared to its average volume of 229,946. The company has a market cap of $26.29 billion, a P/E ratio of 112.10, a price-to-earnings-growth ratio of 5.59 and a beta of 0.77. Tyler Technologies, Inc. has a 12-month low of $397.80 and a 12-month high of $631.43. The business's 50 day simple moving average is $593.46 and its 200 day simple moving average is $545.54. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21.

Tyler Technologies (NYSE:TYL - Get Free Report) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, topping analysts' consensus estimates of $2.43 by $0.09. The business had revenue of $543.34 million for the quarter, compared to analyst estimates of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The business's revenue was up 9.8% on a year-over-year basis. During the same period last year, the company posted $1.66 EPS. On average, analysts forecast that Tyler Technologies, Inc. will post 7.39 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on TYL. JMP Securities upped their price target on shares of Tyler Technologies from $580.00 to $700.00 and gave the stock a "market outperform" rating in a report on Friday, October 25th. Needham & Company LLC boosted their target price on Tyler Technologies from $600.00 to $700.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. StockNews.com raised shares of Tyler Technologies from a "hold" rating to a "buy" rating in a report on Tuesday. Evercore ISI upgraded shares of Tyler Technologies to a "hold" rating in a research note on Friday, July 26th. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $627.00 price target on shares of Tyler Technologies in a research report on Friday, September 13th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $642.62.

Insiders Place Their Bets

In related news, insider John S. Marr, Jr. sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $578.94, for a total value of $2,894,700.00. Following the completion of the transaction, the insider now directly owns 6,983 shares in the company, valued at approximately $4,042,738.02. This represents a 41.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $605.82, for a total value of $3,786,375.00. Following the sale, the chief executive officer now directly owns 75,000 shares of the company's stock, valued at approximately $45,436,500. This trade represents a 7.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,600 shares of company stock valued at $19,307,295 in 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.