Sequoia Financial Advisors LLC reduced its holdings in Tyler Technologies, Inc. (NYSE:TYL – Free Report) by 14.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 813 shares of the technology company after selling 136 shares during the quarter. Sequoia Financial Advisors LLC’s shares in Tyler Technologies were worth $346,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings in the company. Lido Advisors LLC purchased a new stake in Tyler Technologies during the 3rd quarter worth approximately $476,000. Royal London Asset Management Ltd. increased its shares in Tyler Technologies by 0.9% during the 3rd quarter. Royal London Asset Management Ltd. now owns 15,520 shares of the technology company’s stock worth $5,994,000 after acquiring an additional 144 shares during the period. Townsquare Capital LLC increased its shares in Tyler Technologies by 3.6% during the 3rd quarter. Townsquare Capital LLC now owns 4,258 shares of the technology company’s stock worth $1,644,000 after acquiring an additional 147 shares during the period. Morgan Stanley increased its shares in Tyler Technologies by 21.1% during the 3rd quarter. Morgan Stanley now owns 1,015,713 shares of the technology company’s stock worth $392,208,000 after acquiring an additional 177,242 shares during the period. Finally, Carlson Capital Management bought a new stake in Tyler Technologies during the 3rd quarter worth approximately $209,000. 93.30% of the shares are currently in the hands of hedge funds and other institutional investors.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, CEO Brenda A. Cline sold 5,000 shares of the company’s stock in a transaction dated Monday, April 29. The shares were sold at an average price of $458.83, for a total transaction of $2,294,150.00. Following the completion of the sale, the CEO now owns 1,358 shares of the company’s stock, valued at approximately $623,091.14. The sale was disclosed in a filing with the Securities & Exchange Commission, available at this link . In other news, CEO H Lynn Moore, Jr. sold 5,250 shares of the company’s stock in a transaction dated Tuesday, May 7. The shares were sold at an average price of $481.83, for a total value of $2,529,607.50. Following the completion of the sale, the CEO now directly owns 75,000 shares of the company’s stock, valued at approximately $36,137,250. The transaction was disclosed in a filing with the SEC, which is available on the SEC website. Also, Director Brenda A. Cline sold 5,000 shares of the company’s stock in a transaction dated Monday, April 29. The shares were sold at an average price of $458.83, for a total transaction of $2,294,150.00. Following the completion of the sale, the Director now directly owns 1,358 shares of the company’s stock, valued at $623,091.14. The disclosure for this sale can be found here. Insiders sold 26,241 shares of the company’s stock valued at $12,495,890 during the last quarter. Company insiders own 1.50% of the company’s stock.

Tyler Technologies Price Performance

TYL shares opened at $511.48 on Tuesday. 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, Inc. has a 52-week low of $361.16 and a 52-week high of $519.44. The company’s 50-day moving average is $484.94 and its 200-day moving average is $445.85. The company has a market cap of $21.72 billion, a price/earnings ratio of 115.72, a price/earnings/growth ratio of 4.82 and a beta of 0.76.

Tyler Technologies (NYSE:TYL – Get Free Report) last released its earnings results on Wednesday, April 24. The technology company reported $1.74 EPS for the quarter, topping the consensus estimate of $1.48 by $0.26. The company had revenue of $512.36 million for the quarter, compared to analyst estimates of $507.79 million. Tyler Technologies had a net margin of 9.50% and a return on equity of 9.35%. Research analysts predict that Tyler Technologies, Inc. will post 7.1 EPS for the current year.

Changes in analyst ratings

A number of research firms have recently weighed in on TYL. Piper Sandler affirmed an “overweight” rating and set a $520.00 price target on shares of Tyler Technologies in a report on Wednesday, April 24th. Loop Capital increased their price target on shares of Tyler Technologies from $485.00 to $530.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Needham & Company LLC increased their price target on shares of Tyler Technologies from $500.00 to $600.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Robert W. Baird increased their price target on shares of Tyler Technologies from $500.00 to $525.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Finally, Truist Financial re-issued a “buy” rating and gave a $560.00 price target (up from $510.00) on shares of Tyler Technologies in a report on Thursday, May 23rd. Three equities research analysts have rated the stock with a hold rating and nine have given the company a buy rating. The firm has a consensus rating of “Moderate Buy” and a consensus price target of $519.09, according to MarketBeat.

Check out our latest report on TYL

Tyler Technologies Profile

(Free Report)

Tyler Technologies, Inc. provides integrated information management solutions and services for the public sector. The company operates in two segments: Enterprise Software and Platform Technologies. The company offers platform and transformative technology solutions, including cybersecurity for government agencies; data and insight solutions; digital solutions that help employees and decision makers share, communicate and leverage data; payment solutions, such as billing, presentation, merchant onboarding, collections, reconciliation and disbursements; platform technologies, an application development platform that enables government employees to build solutions and applications; and outdoor recreation solutions, including campground reservations, activity tracking, license sales and renewals, and real-time data for conservation and park management.

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