Tyler Technologies, Inc. (NYSE:TYL) Shares Sold by Sunbelt Securities Inc.

Sunbelt Securities Inc. trimmed its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 77.3% during the third quarter, Holdings Channel reports. The firm 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 have also made changes to their positions in TYL. Independence Bank of Kentucky acquired a new stake in Tyler Technologies in the 2nd quarter valued at about $25,000. Ashton Thomas Securities LLC acquired a new stake in shares of Tyler Technologies in the third quarter valued at approximately $27,000. Blue Trust Inc. increased its stake in shares of Tyler Technologies by 329.4% during the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after purchasing an additional 56 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Tyler Technologies during the 2nd quarter worth approximately $61,000. Finally, Tobam purchased a new stake in Tyler Technologies in the 3rd quarter valued at approximately $78,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. StockNews.com cut Tyler Technologies from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Robert W. Baird upped their target price on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Oppenheimer lifted their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. JMP Securities upped their price objective on shares of Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $627.00 target price on shares of Tyler Technologies in a research note on Friday, September 13th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Tyler Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $642.62.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, insider John S. Marr, Jr. sold 12,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $613.66, for a total value of $7,363,920.00. Following the completion of the transaction, the insider now directly owns 6,983 shares of the company’s stock, valued at $4,285,187.78. This represents a 63.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Brian K. Miller sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $602.72, for a total transaction of $1,808,160.00. Following the sale, the chief financial officer now directly owns 11,950 shares of the company’s stock, valued at $7,202,504. The trade was a 20.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,500 shares of company stock valued at $21,952,888 over the last three months. 2.20% of the stock is owned by company insiders.

Tyler Technologies Stock Performance

Shares of NYSE:TYL opened at $611.65 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. Tyler Technologies, Inc. has a 12 month low of $397.80 and a 12 month high of $638.56. The firm has a market capitalization of $26.18 billion, a PE ratio of 111.61, a P/E/G ratio of 5.66 and a beta of 0.76. The business has a 50-day moving average of $608.72 and a two-hundred day moving average of $566.12.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $547.34 million. During the same quarter in the prior year, the business earned $1.66 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, research analysts forecast that Tyler Technologies, Inc. will post 7.36 earnings per share for the current year.

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.