William Blair Investment Management LLC Sells 308,841 Shares of Tyler Technologies, Inc. (NYSE:TYL)

William Blair Investment Management LLC reduced its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 96.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,831 shares of the technology company's stock after selling 308,841 shares during the quarter. William Blair Investment Management LLC's holdings in Tyler Technologies were worth $6,246,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Larson Financial Group LLC lifted its stake in shares of Tyler Technologies by 221.4% in the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company's stock worth $26,000 after acquiring an additional 31 shares in the last quarter. Sierra Ocean LLC acquired a new position in Tyler Technologies in the fourth quarter worth $32,000. OFI Invest Asset Management acquired a new stake in shares of Tyler Technologies during the fourth quarter worth $41,000. Smithfield Trust Co lifted its position in shares of Tyler Technologies by 55.6% in the 4th quarter. Smithfield Trust Co now owns 84 shares of the technology company's stock worth $48,000 after buying an additional 30 shares during the last quarter. Finally, Private Trust Co. NA boosted its holdings in shares of Tyler Technologies by 51.8% in the 4th quarter. Private Trust Co. NA now owns 85 shares of the technology company's stock valued at $49,000 after buying an additional 29 shares during the period. Hedge funds and other institutional investors own 93.30% of the company's stock.

Insiders Place Their Bets

In other news, CFO Brian K. Miller sold 1,550 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $613.58, for a total transaction of $951,049.00. Following the completion of the sale, the chief financial officer now owns 14,026 shares in the company, valued at $8,606,073.08. The trade was a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the company's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total value of $4,022,981.26. Following the transaction, the chief executive officer now directly owns 75,734 shares in the company, valued at $46,772,561.06. This trade represents a 7.92 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,064 shares of company stock valued at $8,688,030. Insiders own 2.20% of the company's stock.

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Tyler Technologies Price Performance

TYL traded up $9.25 during trading on Monday, hitting $575.64. The company's stock had a trading volume of 244,611 shares, compared to its average volume of 240,981. 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 stock has a market capitalization of $24.81 billion, a price-to-earnings ratio of 94.99, a price-to-earnings-growth ratio of 4.93 and a beta of 0.80. The firm's 50 day moving average price is $598.88 and its two-hundred day moving average price is $598.02. Tyler Technologies, Inc. has a 12 month low of $397.80 and a 12 month high of $661.31.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share 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%. Sell-side analysts forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TYL shares. Piper Sandler increased their price target on Tyler Technologies from $701.00 to $747.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. The Goldman Sachs Group boosted their price target on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Wells Fargo & Company restated an "equal weight" rating and issued a $615.00 price objective (down previously from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. DA Davidson restated a "neutral" rating and set a $575.00 target price on shares of Tyler Technologies in a report on Thursday, January 30th. Finally, StockNews.com cut Tyler Technologies from a "buy" rating to a "hold" rating in a research note on Monday, February 24th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $676.25.

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.