Welch & Forbes LLC Has $418,000 Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Welch & Forbes LLC reduced its position in Tyler Technologies, Inc. (NYSE:TYL) by 9.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 999 shares of the technology company’s stock after selling 100 shares during the period. Welch & Forbes LLC’s holdings in Tyler Technologies were worth $418,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Tyler Technologies by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 4,913,419 shares of the technology company’s stock worth $1,897,268,000 after purchasing an additional 29,578 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Tyler Technologies by 0.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,268,954 shares of the technology company’s stock worth $489,994,000 after buying an additional 5,013 shares during the period. Morgan Stanley increased its stake in shares of Tyler Technologies by 21.1% in the 3rd quarter. Morgan Stanley now owns 1,015,713 shares of the technology company’s stock valued at $392,208,000 after acquiring an additional 177,242 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Tyler Technologies by 13.1% in the 4th quarter. Van ECK Associates Corp now owns 868,016 shares of the technology company’s stock valued at $362,935,000 after acquiring an additional 100,788 shares during the period. Finally, Invesco Ltd. grew its holdings in Tyler Technologies by 6.5% during the third quarter. Invesco Ltd. now owns 860,928 shares of the technology company’s stock valued at $332,439,000 after purchasing an additional 52,798 shares during the period. Institutional investors own 93.30% of the company’s stock.

Insider Activity

In other Tyler Technologies news, CFO Brian K. Miller sold 2,671 shares of Tyler Technologies stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $465.03, for a total value of $1,242,095.13. Following the completion of the sale, the chief financial officer now owns 13,536 shares in the company, valued at approximately $6,294,646.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO H Lynn Moore, Jr. sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $435.19, for a total transaction of $3,263,925.00. Following the completion of the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at approximately $32,639,250. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brian K. Miller sold 2,671 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $465.03, for a total transaction of $1,242,095.13. Following the sale, the chief financial officer now directly owns 13,536 shares in the company, valued at approximately $6,294,646.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,279 shares of company stock valued at $25,511,064. 1.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

TYL has been the subject of several research analyst reports. DA Davidson boosted their price target on shares of Tyler Technologies from $412.00 to $434.00 and gave the company a “neutral” rating in a report on Thursday, February 22nd. JMP Securities reiterated a “market outperform” rating and issued a $490.00 price objective on shares of Tyler Technologies in a research report on Friday, April 26th. Robert W. Baird upped their price target on shares of Tyler Technologies from $500.00 to $525.00 and gave the company an “outperform” rating in a report on Friday, April 26th. JPMorgan Chase & Co. raised their price objective on shares of Tyler Technologies from $500.00 to $526.00 and gave the stock an “overweight” rating in a report on Thursday, February 15th. Finally, Piper Sandler reissued an “overweight” rating and issued a $520.00 price target on shares of Tyler Technologies in a research note on Wednesday, April 24th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Tyler Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $492.22.

Tyler Technologies Stock Performance

Tyler Technologies stock traded down $1.21 during midday trading on Wednesday, reaching $480.17. 82,974 shares of the company’s stock were exchanged, compared to its average volume of 213,477. Tyler Technologies, Inc. has a 52 week low of $361.16 and a 52 week high of $485.41. The firm has a market cap of $20.39 billion, a price-to-earnings ratio of 108.91, a P/E/G ratio of 4.38 and a beta of 0.76. The stock’s 50-day simple moving average is $427.32 and its 200 day simple moving average is $419.98. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.94 and a current ratio of 0.94.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, February 14th. The technology company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.06. Tyler Technologies had a net margin of 9.50% and a return on equity of 9.35%. The company had revenue of $480.94 million during the quarter, compared to analysts’ expectations of $483.34 million. On average, analysts expect that Tyler Technologies, Inc. will post 7.14 earnings per share for the current fiscal year.

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.