Sunbelt Securities Inc. Sells 850 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Sunbelt Securities Inc. cut its holdings in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 77.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 250 shares of the technology company's stock after selling 850 shares during the quarter. Sunbelt Securities Inc.'s holdings in Tyler Technologies were worth $146,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Coldstream Capital Management Inc. grew its stake in shares of Tyler Technologies by 20.7% during the third quarter. Coldstream Capital Management Inc. now owns 1,458 shares of the technology company's stock worth $854,000 after buying an additional 250 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Tyler Technologies by 2.2% during the third quarter. Geode Capital Management LLC now owns 1,108,908 shares of the technology company's stock worth $645,585,000 after buying an additional 24,284 shares during the period. Barclays PLC raised its position in shares of Tyler Technologies by 2.5% in the 3rd quarter. Barclays PLC now owns 88,296 shares of the technology company's stock worth $51,543,000 after acquiring an additional 2,169 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Tyler Technologies by 9.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 12,167 shares of the technology company's stock worth $7,102,000 after buying an additional 1,012 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Tyler Technologies during the 3rd quarter worth approximately $2,056,000. Institutional investors own 93.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TYL. Piper Sandler boosted their target price on shares of Tyler Technologies from $625.00 to $701.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Robert W. Baird lifted their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. JMP Securities increased their price objective on shares of Tyler Technologies from $580.00 to $700.00 and gave the stock a "market outperform" rating in a research report on Friday, October 25th. Needham & Company LLC boosted their target price on Tyler Technologies from $600.00 to $700.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. Finally, 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. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Tyler Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $642.62.

Tyler Technologies Price Performance

Tyler Technologies stock traded down $16.59 during midday trading on Friday, reaching $611.65. 199,972 shares of the stock were exchanged, compared to its average volume of 282,913. Tyler Technologies, Inc. has a 52 week low of $397.80 and a 52 week high of $638.56. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21. The firm 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's fifty day moving average is $608.72 and its 200-day moving average is $566.12.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted 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. 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 for the quarter, compared to analysts' expectations of $547.34 million. During the same period in the prior year, the business earned $1.66 earnings per share. Tyler Technologies's revenue for the quarter was up 9.8% compared to the same quarter last year. On average, sell-side analysts forecast that Tyler Technologies, Inc. will post 7.36 EPS for the current year.

Insiders Place Their Bets

In other news, CEO H Lynn Moore, Jr. sold 6,250 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $605.82, for a total transaction of $3,786,375.00. Following the completion of the transaction, the chief executive officer now directly owns 75,000 shares of the company's stock, valued at approximately $45,436,500. This represents a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John S. Marr, Jr. sold 12,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the sale, the insider now owns 6,983 shares of the company's stock, valued at approximately $4,285,187.78. This represents a 63.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,500 shares of company stock valued at $21,952,888 over the last three months. Insiders own 2.20% of the company's stock.

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.