Summit Trail Advisors LLC Sells 276 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Summit Trail Advisors LLC reduced its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 9.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,756 shares of the technology company’s stock after selling 276 shares during the quarter. Summit Trail Advisors LLC’s holdings in Tyler Technologies were worth $1,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Waldron Private Wealth LLC boosted its stake in Tyler Technologies by 3.5% during the second quarter. Waldron Private Wealth LLC now owns 716 shares of the technology company’s stock valued at $360,000 after buying an additional 24 shares during the last quarter. FWG Holdings LLC lifted its stake in shares of Tyler Technologies by 3.1% in the 3rd quarter. FWG Holdings LLC now owns 910 shares of the technology company’s stock valued at $551,000 after purchasing an additional 27 shares during the last quarter. Industrial Alliance Investment Management Inc. lifted its stake in shares of Tyler Technologies by 4.4% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 693 shares of the technology company’s stock valued at $295,000 after purchasing an additional 29 shares during the last quarter. George Kaiser Family Foundation lifted its stake in shares of Tyler Technologies by 0.7% in the 2nd quarter. George Kaiser Family Foundation now owns 4,177 shares of the technology company’s stock valued at $2,100,000 after purchasing an additional 29 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Tyler Technologies by 2.3% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,377 shares of the technology company’s stock valued at $804,000 after purchasing an additional 31 shares during the last quarter. 93.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Oppenheimer increased their price target on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Barclays raised their price objective on Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Robert W. Baird raised their price objective on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. JMP Securities raised their price objective on Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a report on Friday, October 25th. Finally, Truist Financial restated a “buy” rating and set a $685.00 price objective (up from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Tyler Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $642.62.

Tyler Technologies Trading Up 2.0 %

Shares of TYL opened at $609.09 on Monday. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $631.43. The stock has a fifty day moving average of $595.22 and a two-hundred day moving average of $552.15. The company has a market capitalization of $26.07 billion, a PE ratio of 111.15, a price-to-earnings-growth ratio of 5.52 and a beta of 0.77. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.09. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The firm had revenue of $543.34 million during the quarter, compared to analysts’ expectations of $547.34 million. During the same period in the prior year, the company earned $1.66 EPS. The firm’s revenue was up 9.8% on a year-over-year basis. As a group, analysts forecast that Tyler Technologies, Inc. will post 7.36 EPS for the current year.

Insider Buying and Selling at Tyler Technologies

In other news, Director Glenn A. Carter sold 3,350 shares of the company’s stock in a transaction dated 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 sale, the director now owns 2,654 shares in the company, valued at approximately $1,546,140.78. This represents a 55.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brian K. Miller sold 2,500 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $586.97, for a total transaction of $1,467,425.00. Following the sale, the chief financial officer now owns 11,950 shares in the company, valued at approximately $7,014,291.50. This trade represents a 17.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,600 shares of company stock valued at $16,412,595 in the last ninety days. Insiders own 1.50% of the company’s stock.

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.