Tyler Technologies, Inc. (NYSE:TYL) Shares Sold by Norway Savings Bank

Norway Savings Bank reduced its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 1.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,094 shares of the technology company’s stock after selling 63 shares during the period. Tyler Technologies comprises 1.3% of Norway Savings Bank’s portfolio, making the stock its 22nd biggest holding. Norway Savings Bank’s holdings in Tyler Technologies were worth $2,361,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TYL. Ashton Thomas Securities LLC acquired a new position in Tyler Technologies during the third quarter worth about $27,000. Quarry LP purchased a new stake in shares of Tyler Technologies in the third quarter valued at approximately $78,000. Tobam acquired a new stake in shares of Tyler Technologies in the third quarter valued at approximately $78,000. Brooklyn Investment Group acquired a new stake in shares of Tyler Technologies in the third quarter valued at approximately $79,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new position in Tyler Technologies during the third quarter worth $82,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Tyler Technologies Trading Down 2.2 %

NYSE:TYL traded down $12.61 on Tuesday, reaching $563.23. 208,798 shares of the company’s stock were exchanged, compared to its average volume of 191,537. The business has a fifty day moving average of $607.90 and a 200-day moving average of $579.55. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies, Inc. has a 52-week low of $397.80 and a 52-week high of $638.56. The firm has a market capitalization of $24.11 billion, a price-to-earnings ratio of 102.78, a price-to-earnings-growth ratio of 5.54 and a beta of 0.78.

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

Analysts Set New Price Targets

Several research firms have recently commented on TYL. Needham & Company LLC lifted their price target on Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Oppenheimer boosted 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. JMP Securities lifted their price target on shares of Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a research report on Friday, October 25th. Barclays upped their price objective on Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, DA Davidson lifted their target price on Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $643.77.

Insiders Place Their Bets

In related news, CFO Brian K. Miller sold 3,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $602.72, for a total transaction of $1,808,160.00. Following the completion of the transaction, the chief financial officer now owns 11,950 shares in the company, valued at approximately $7,202,504. The trade was a 20.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $605.82, for a total value of $3,786,375.00. Following the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $45,436,500. The trade was a 7.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,252 shares of company stock worth $26,096,928 in the last quarter. 2.20% of the stock is owned by company insiders.

Tyler Technologies 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.