Progressive Investment Management Corp Sells 511 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Progressive Investment Management Corp cut its stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,783 shares of the technology company's stock after selling 511 shares during the quarter. Tyler Technologies accounts for 2.8% of Progressive Investment Management Corp's holdings, making the stock its 13th biggest position. Progressive Investment Management Corp's holdings in Tyler Technologies were worth $10,831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of TYL. Norges Bank bought a new position in Tyler Technologies during the fourth quarter worth about $528,465,000. Van ECK Associates Corp lifted its holdings in shares of Tyler Technologies by 1,991.8% during the 4th quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company's stock valued at $317,486,000 after purchasing an additional 524,259 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Tyler Technologies in the 4th quarter valued at approximately $159,947,000. JPMorgan Chase & Co. increased its stake in Tyler Technologies by 148.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company's stock worth $269,369,000 after purchasing an additional 275,511 shares in the last quarter. Finally, Seilern Investment Management Ltd acquired a new stake in Tyler Technologies during the 4th quarter worth approximately $105,549,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

TYL has been the subject of several research analyst reports. Barclays upped their price target on shares of 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 increased their target price on Tyler Technologies from $660.00 to $728.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. Truist Financial restated a "buy" rating and issued a $775.00 price target (up from $685.00) on shares of Tyler Technologies in a report on Friday, February 14th. Wells Fargo & Company reiterated an "equal weight" rating and set a $615.00 price objective (down from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. Finally, Piper Sandler boosted their target price on Tyler Technologies from $701.00 to $747.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $676.25.

Tyler Technologies Stock Down 0.0 %

Shares of NYSE TYL traded down $0.25 during trading hours on Wednesday, hitting $584.28. The company had a trading volume of 97,211 shares, compared to its average volume of 248,892. Tyler Technologies, Inc. has a 1-year low of $397.80 and a 1-year high of $661.31. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. The firm's 50 day moving average is $599.99 and its 200-day moving average is $597.72. The stock has a market capitalization of $25.19 billion, a P/E ratio of 96.42, a price-to-earnings-growth ratio of 4.93 and a beta of 0.80.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 EPS for the quarter, missing analysts' consensus estimates of $2.44 by ($0.57). Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. On average, analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO H Lynn Moore, Jr. sold 6,514 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $617.59, for a total value of $4,022,981.26. Following the sale, the chief executive officer now owns 75,734 shares in the company, valued at approximately $46,772,561.06. This represents a 7.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John S. Marr, Jr. sold 6,000 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $619.00, for a total value of $3,714,000.00. Following the sale, the insider now directly owns 6,983 shares of the company's stock, valued at $4,322,477. This represents a 46.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,064 shares of company stock valued at $8,688,030 over the last 90 days. 2.20% of the stock is currently owned by insiders.

About Tyler Technologies

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.