State Street Corp Sells 11,944,933 Shares of Tyler Technologies, Inc. (NYSE:TYL)

State Street Corp lowered its position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 87.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 1,749,836 shares of the technology company's stock after selling 11,944,933 shares during the period. State Street Corp owned 4.09% of Tyler Technologies worth $1,021,414,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in shares of Tyler Technologies in the 3rd quarter worth about $27,000. Independence Bank of Kentucky bought a new stake in Tyler Technologies in the second quarter worth approximately $25,000. Blue Trust Inc. boosted its holdings in shares of Tyler Technologies by 329.4% during the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company's stock worth $37,000 after buying an additional 56 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Tyler Technologies during the 2nd quarter worth approximately $61,000. Finally, Quarry LP bought a new stake in shares of Tyler Technologies in the 3rd quarter valued at $78,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on TYL shares. StockNews.com downgraded shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research note on Friday. The Goldman Sachs Group reiterated a "buy" rating and issued a $627.00 price target on shares of Tyler Technologies in a report on Friday, September 13th. DA Davidson upped their target price on Tyler Technologies from $525.00 to $550.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Needham & Company LLC lifted their price target on shares of Tyler Technologies from $600.00 to $700.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. Finally, Barclays upped their price objective on shares of Tyler Technologies from $700.00 to $705.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $642.62.

Tyler Technologies Stock Performance

Shares of TYL stock traded down $7.58 on Friday, hitting $623.15. 196,958 shares of the stock were exchanged, compared to its average volume of 286,578. The firm's 50 day moving average is $604.80 and its two-hundred day moving average is $561.56. Tyler Technologies, Inc. has a one year low of $397.80 and a one year high of $638.56. The firm has a market capitalization of $26.67 billion, a PE ratio of 113.71, a P/E/G ratio of 5.76 and a beta of 0.76. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 EPS 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 during the quarter, compared to the consensus estimate of $547.34 million. During the same period last year, the firm earned $1.66 EPS. Tyler Technologies's revenue for the quarter was up 9.8% on a year-over-year basis. Sell-side analysts expect that Tyler Technologies, Inc. will post 7.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Tyler Technologies

In other news, CFO Brian K. Miller sold 3,000 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $602.72, for a total transaction of $1,808,160.00. Following the completion of the transaction, the chief financial officer now owns 11,950 shares of the company's stock, valued at approximately $7,202,504. The trade was a 20.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John S. Marr, Jr. sold 6,000 shares of the firm's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $633.55, for a total transaction of $3,801,300.00. Following the completion of the sale, the insider now directly owns 6,983 shares in the company, valued at $4,424,079.65. This represents a 46.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,500 shares of company stock valued at $27,790,888 in the last quarter. 2.20% of the stock is currently owned by corporate insiders.

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.