Captrust Financial Advisors Trims Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Captrust Financial Advisors lowered its position in Tyler Technologies, Inc. (NYSE:TYL) by 26.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,227 shares of the technology company’s stock after selling 1,172 shares during the quarter. Captrust Financial Advisors’ holdings in Tyler Technologies were worth $1,861,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TYL. Barclays PLC lifted its stake in Tyler Technologies by 2.5% in the third quarter. Barclays PLC now owns 88,296 shares of the technology company’s stock valued at $51,543,000 after buying an additional 2,169 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Tyler Technologies by 148.2% in the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock valued at $269,369,000 after buying an additional 275,511 shares during the last quarter. Czech National Bank lifted its stake in Tyler Technologies by 6.8% in the fourth quarter. Czech National Bank now owns 9,280 shares of the technology company’s stock valued at $5,351,000 after buying an additional 588 shares during the last quarter. Fiduciary Alliance LLC purchased a new stake in Tyler Technologies in the fourth quarter valued at approximately $1,594,000. Finally, Oak Thistle LLC lifted its stake in Tyler Technologies by 213.7% in the fourth quarter. Oak Thistle LLC now owns 2,328 shares of the technology company’s stock valued at $1,342,000 after buying an additional 1,586 shares during the last quarter. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Trading Up 0.9%

Shares of TYL stock opened at $565.31 on Tuesday. The business’s fifty day moving average price is $562.22 and its 200 day moving average price is $590.53. Tyler Technologies, Inc. has a 1-year low of $458.50 and a 1-year high of $661.31. The firm has a market capitalization of $24.38 billion, a PE ratio of 93.29, a P/E/G ratio of 4.93 and a beta of 0.88. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.22. The company had revenue of $562.43 million for the quarter, compared to analyst estimates of $556.45 million. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. Tyler Technologies’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.20 earnings per share. As a group, sell-side analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TYL shares. Piper Sandler cut their price target on Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. Truist Financial restated a “buy” rating and set a $775.00 price target (up previously from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. StockNews.com upgraded Tyler Technologies from a “hold” rating to a “buy” rating in a research note on Saturday. Wells Fargo & Company cut their price target on Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Finally, Needham & Company LLC restated a “buy” rating and set a $750.00 price target on shares of Tyler Technologies in a research note on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Tyler Technologies has an average rating of “Moderate Buy” and a consensus target price of $674.67.

Insider Buying and Selling at Tyler Technologies

In related news, CEO H Lynn Moore, Jr. sold 6,514 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the sale, the chief executive officer now owns 75,734 shares of the company’s stock, valued at $46,772,561.06. This trade represents a 7.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian K. Miller sold 1,033 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $557.45, for a total value of $575,845.85. Following the sale, the chief financial officer now directly owns 13,028 shares in the company, valued at approximately $7,262,458.60. The trade was a 7.35% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,462 shares of company stock valued at $9,464,626. Insiders own 1.10% of the company’s stock.

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.