Torray Investment Partners LLC Reduces Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Torray Investment Partners LLC trimmed its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 2.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 10,640 shares of the technology company’s stock after selling 262 shares during the quarter. Torray Investment Partners LLC’s holdings in Tyler Technologies were worth $6,186,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Retirement Wealth Solutions LLC purchased a new stake in shares of Tyler Technologies during the first quarter valued at about $26,000. Mowery & Schoenfeld Wealth Management LLC grew its holdings in shares of Tyler Technologies by 820.0% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company’s stock valued at $27,000 after buying an additional 41 shares during the last quarter. Brown Brothers Harriman & Co. increased its holdings in shares of Tyler Technologies by 300.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock valued at $32,000 after purchasing an additional 42 shares during the period. Cornerstone Planning Group LLC increased its holdings in Tyler Technologies by 221.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 61 shares of the technology company’s stock worth $35,000 after buying an additional 42 shares during the period. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Tyler Technologies in the fourth quarter worth $40,000. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Tyler Technologies

In related news, CEO H Lynn Moore, Jr. sold 5,250 shares of the company’s stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $585.18, for a total transaction of $3,072,195.00. Following the completion of the sale, the chief executive officer directly owned 81,775 shares of the company’s stock, valued at approximately $47,853,094.50. This represents a 6.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brenda A. Cline sold 2,500 shares of the company’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $577.41, for a total transaction of $1,443,525.00. Following the completion of the transaction, the director owned 2,519 shares of the company’s stock, valued at $1,454,495.79. This trade represents a 49.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,500 shares of company stock worth $15,177,230 over the last ninety days. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TYL. Needham & Company LLC reiterated a “buy” rating and set a $750.00 price target on shares of Tyler Technologies in a research report on Tuesday, May 13th. Wells Fargo & Company dropped their price target on Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. DA Davidson cut their price objective on shares of Tyler Technologies from $595.00 to $570.00 and set a “neutral” rating for the company in a report on Friday, April 25th. Barclays reduced their price target on Tyler Technologies from $700.00 to $695.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. Finally, Cantor Fitzgerald began coverage on Tyler Technologies in a report on Tuesday, June 3rd. They issued a “neutral” rating and a $600.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Tyler Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $685.09.

Tyler Technologies Stock Performance

Shares of TYL opened at $554.01 on Thursday. The company has a market capitalization of $23.89 billion, a price-to-earnings ratio of 83.44, a PEG ratio of 4.31 and a beta of 0.84. Tyler Technologies, Inc. has a 1 year low of $513.52 and a 1 year high of $661.31. The company’s 50 day simple moving average is $573.44 and its 200 day simple moving average is $578.31.

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.