Synovus Financial Corp Acquires 121 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Synovus Financial Corp boosted its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,192 shares of the technology company’s stock after acquiring an additional 121 shares during the quarter. Synovus Financial Corp’s holdings in Tyler Technologies were worth $3,571,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TYL. XTX Topco Ltd acquired a new stake in shares of Tyler Technologies in the third quarter valued at approximately $410,000. Barclays PLC increased its stake in shares of Tyler Technologies by 2.5% in the 3rd 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 period. Virtu Financial LLC bought a new stake in shares of Tyler Technologies during the third quarter worth $1,825,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Tyler Technologies during the third quarter valued at $651,000. Finally, Tidal Investments LLC boosted its holdings in Tyler Technologies by 11.2% in the third quarter. Tidal Investments LLC now owns 2,412 shares of the technology company’s stock valued at $1,408,000 after acquiring an additional 243 shares during the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

Insider Buying and Selling

In other Tyler Technologies news, CFO Brian K. Miller sold 1,550 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $613.58, for a total value of $951,049.00. Following the sale, the chief financial officer now owns 14,026 shares in the company, valued at approximately $8,606,073.08. The trade was a 9.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the transaction, the insider now directly owns 6,983 shares of the company’s stock, valued at $4,322,477. This represents a 46.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,064 shares of company stock worth $8,688,030 over the last ninety days. Company insiders own 2.20% of the company’s stock.

Tyler Technologies Stock Up 0.7 %

Shares of Tyler Technologies stock opened at $572.36 on Tuesday. The company has a market capitalization of $24.67 billion, a P/E ratio of 94.45, a price-to-earnings-growth ratio of 4.93 and a beta of 0.84. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21. The business has a 50-day moving average of $589.22 and a two-hundred day moving average of $595.57. Tyler Technologies, Inc. has a 1 year low of $397.80 and a 1 year high of $661.31.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. As a group, equities analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Analyst Upgrades and Downgrades

TYL has been the subject of several recent research reports. Needham & Company LLC reissued a “buy” rating and set a $700.00 price objective on shares of Tyler Technologies in a report on Tuesday, January 21st. Wells Fargo & Company restated an “equal weight” rating and issued a $615.00 price objective (down from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. DA Davidson reaffirmed a “neutral” rating and set a $575.00 target price on shares of Tyler Technologies in a report on Thursday, January 30th. Barclays cut their price target on Tyler Technologies from $715.00 to $700.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, The Goldman Sachs Group lifted their price objective on Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $675.00.

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.