Van ECK Associates Corp Sells 455,188 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Van ECK Associates Corp lessened its holdings in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 94.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 26,321 shares of the technology company's stock after selling 455,188 shares during the period. Van ECK Associates Corp owned about 0.06% of Tyler Technologies worth $15,325,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in TYL. Independence Bank of Kentucky bought a new position in Tyler Technologies in the second quarter worth approximately $25,000. Covestor Ltd raised its holdings in Tyler Technologies by 153.6% in the 1st quarter. Covestor Ltd now owns 71 shares of the technology company's stock worth $30,000 after purchasing an additional 43 shares during the period. Blue Trust Inc. lifted its position in Tyler Technologies by 329.4% during the second quarter. Blue Trust Inc. now owns 73 shares of the technology company's stock valued at $37,000 after purchasing an additional 56 shares in the last quarter. Lynx Investment Advisory bought a new stake in Tyler Technologies during the second quarter valued at about $38,000. Finally, Larson Financial Group LLC increased its position in Tyler Technologies by 675.0% in the first quarter. Larson Financial Group LLC now owns 93 shares of the technology company's stock worth $40,000 after buying an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 93.30% of the company's stock.

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $576.62, for a total transaction of $2,883,100.00. Following the sale, the chief executive officer now directly owns 75,000 shares of the company's stock, valued at $43,246,500. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO H Lynn Moore, Jr. sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $576.62, for a total value of $2,883,100.00. Following the completion of the sale, the chief executive officer now directly owns 75,000 shares of the company's stock, valued at $43,246,500. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Glenn A. Carter sold 3,350 shares of the business's stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $582.57, for a total value of $1,951,609.50. Following the transaction, the director now directly owns 2,654 shares in the company, valued at approximately $1,546,140.78. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,850 shares of company stock worth $12,151,735 in the last three months. Insiders own 1.50% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TYL shares. The Goldman Sachs Group reiterated a "buy" rating and set a $627.00 price objective on shares of Tyler Technologies in a research note on Friday, September 13th. Evercore ISI upgraded shares of Tyler Technologies to a "hold" rating in a research report on Friday, July 26th. DA Davidson raised their price objective on shares of Tyler Technologies from $525.00 to $550.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. Truist Financial reaffirmed a "buy" rating and issued a $685.00 target price (up previously from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Finally, Barclays raised their price target on Tyler Technologies from $700.00 to $705.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $642.62.

Tyler Technologies Price Performance

NYSE TYL traded down $3.15 during trading on Wednesday, hitting $603.20. 351,796 shares of the stock traded hands, compared to its average volume of 228,710. The company has a market capitalization of $25.82 billion, a P/E ratio of 110.63, a price-to-earnings-growth ratio of 5.42 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 firm has a 50-day simple moving average of $589.23 and a 200-day simple moving average of $538.17. 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 posted its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, beating analysts' consensus estimates of $2.43 by $0.09. The firm had revenue of $543.34 million during 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 revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the firm posted $1.66 earnings per share. As a group, analysts predict that Tyler Technologies, Inc. will post 7.39 EPS for the current year.

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.