Perpetual Ltd Trims Position in Tyler Technologies, Inc. (NYSE:TYL)

Perpetual Ltd trimmed its position in Tyler Technologies, Inc. (NYSE:TYL) by 23.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 659 shares of the technology company’s stock after selling 200 shares during the period. Perpetual Ltd’s holdings in Tyler Technologies were worth $380,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TYL. Ashton Thomas Securities LLC purchased a new stake in Tyler Technologies in the third quarter worth $27,000. Tobam purchased a new stake in Tyler Technologies in the third quarter worth $78,000. Quarry LP purchased a new stake in Tyler Technologies in the third quarter worth $78,000. MassMutual Private Wealth & Trust FSB grew its stake in Tyler Technologies by 18.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the technology company’s stock worth $78,000 after purchasing an additional 21 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in Tyler Technologies in the third quarter worth $79,000. 93.30% of the stock is owned by hedge funds and other institutional investors.

Tyler Technologies Stock Up 1.2 %

Tyler Technologies stock opened at $593.28 on Friday. The stock has a market cap of $25.39 billion, a PE ratio of 108.26, a price-to-earnings-growth ratio of 4.54 and a beta of 0.78. 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, Inc. has a one year low of $397.80 and a one year high of $638.56. The stock has a fifty day moving average of $598.42 and a 200 day moving average of $585.06.

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

Insiders Place Their Bets

In related news, insider John S. Marr, Jr. sold 6,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $633.55, for a total transaction of $3,801,300.00. Following the completion of the sale, the insider now owns 6,983 shares in the company, valued at approximately $4,424,079.65. This trade represents a 46.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brian K. Miller sold 3,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $602.72, for a total value of $1,808,160.00. Following the sale, the chief financial officer now owns 11,950 shares of the company’s stock, valued at $7,202,504. This represents a 20.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,252 shares of company stock worth $26,096,928 over the last quarter. 2.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Robert W. Baird boosted their target price on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. StockNews.com downgraded Tyler Technologies from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Truist Financial reissued a “buy” rating and issued a $685.00 target price (up from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $615.00 price target (down from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. Finally, Oppenheimer upped their price target on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $643.77.

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.