Synovus Financial Corp Sells 2,247 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Synovus Financial Corp cut its stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 27.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,071 shares of the technology company's stock after selling 2,247 shares during the period. Synovus Financial Corp's holdings in Tyler Technologies were worth $3,544,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in TYL. International Assets Investment Management LLC raised its stake in shares of Tyler Technologies by 252,047.5% during the 3rd quarter. International Assets Investment Management LLC now owns 307,620 shares of the technology company's stock worth $179,564,000 after buying an additional 307,498 shares during the period. FMR LLC grew its holdings in shares of Tyler Technologies by 94.1% in the third quarter. FMR LLC now owns 109,319 shares of the technology company's stock valued at $63,812,000 after purchasing an additional 52,984 shares during the period. Westwind Capital increased its stake in Tyler Technologies by 7,614.0% during the third quarter. Westwind Capital now owns 46,361 shares of the technology company's stock worth $27,062,000 after acquiring an additional 45,760 shares during the last quarter. LMR Partners LLP purchased a new stake in Tyler Technologies in the 3rd quarter valued at about $23,383,000. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Tyler Technologies by 626.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 42,450 shares of the technology company's stock worth $24,779,000 after purchasing an additional 36,605 shares during the period. 93.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Tyler Technologies

In related news, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies 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 sale, the insider now directly owns 6,983 shares of the company's stock, valued at approximately $4,424,079.65. The trade was a 46.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $605.82, for a total transaction of $3,786,375.00. Following the sale, the chief executive officer now owns 75,000 shares in the company, valued at approximately $45,436,500. This represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,500 shares of company stock valued at $21,952,888 in the last three months. 2.20% of the stock is currently owned by company insiders.

Tyler Technologies Price Performance

NYSE:TYL traded down $16.59 during mid-day trading on Friday, reaching $611.65. 199,972 shares of the company were exchanged, compared to its average volume of 282,913. Tyler Technologies, Inc. has a 12 month low of $397.80 and a 12 month high of $638.56. The company has a fifty day moving average of $608.72 and a 200 day moving average of $566.76. The stock has a market cap of $26.18 billion, a PE ratio of 111.62, a PEG ratio of 5.54 and a beta of 0.76. The company has a quick ratio of 1.21, a current 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 earnings per share for the quarter, topping the consensus estimate 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%. Tyler Technologies's quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.66 EPS. On average, research analysts anticipate that Tyler Technologies, Inc. will post 7.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TYL. DA Davidson lifted their target price on Tyler Technologies from $525.00 to $550.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Oppenheimer raised their price objective on Tyler Technologies from $625.00 to $700.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $627.00 target price on shares of Tyler Technologies in a report on Friday, September 13th. Piper Sandler increased their price objective on Tyler Technologies from $625.00 to $701.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. Finally, Needham & Company LLC boosted their price target on shares of Tyler Technologies from $600.00 to $700.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. 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 data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $642.62.

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.