Van ECK Associates Corp lowered its holdings in Tyler Technologies, Inc. (NYSE:TYL – Free Report) by 31.7% during the second quarter, Holdings Channel.com reports. The firm owned 929,654 shares of the technology company’s stock after selling 431,430 shares during the period. Van ECK Associates Corp’s holdings in Tyler Technologies were worth $271,887,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in TYL. DV Equities LLC acquired a new position in Tyler Technologies during the 4th quarter worth about $27,000. Elyxium Wealth LLC acquired a new stake in Tyler Technologies in the 4th quarter valued at about $29,000. Bayban acquired a new stake in Tyler Technologies in the 4th quarter valued at about $30,000. Cornerstone Planning Group LLC raised its stake in shares of Tyler Technologies by 3,900.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 80 shares of the technology company’s stock worth $34,000 after acquiring an additional 78 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Tyler Technologies in the second quarter worth about $35,000. Institutional investors own 93.30% of the company’s stock.
Tyler Technologies Trading Up 2.4%
TYL opened at $378.87 on Friday. The firm has a 50 day simple moving average of $316.86 and a 200 day simple moving average of $324.04. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.55 and a quick ratio of 1.55. The company has a market cap of $15.51 billion, a price-to-earnings ratio of 50.25, a price-to-earnings-growth ratio of 2.43 and a beta of 0.81. Tyler Technologies, Inc. has a fifty-two week low of $270.71 and a fifty-two week high of $566.58.
Insider Buying and Selling
In other Tyler Technologies news, COO Jeffrey David Puckett sold 8,500 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $356.44, for a total value of $3,029,740.00. Following the completion of the sale, the chief operating officer owned 7,784 shares of the company’s stock, valued at approximately $2,774,528.96. This represents a 52.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on TYL shares. Zacks Research upgraded shares of Tyler Technologies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. JPMorgan Chase & Co. dropped their price objective on shares of Tyler Technologies from $650.00 to $525.00 and set an “overweight” rating for the company in a research report on Tuesday, June 23rd. Piper Sandler decreased their price objective on Tyler Technologies from $543.00 to $491.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. DA Davidson reissued a “buy” rating and issued a $460.00 target price on shares of Tyler Technologies in a research note on Wednesday, June 10th. Finally, Barclays boosted their target price on Tyler Technologies from $420.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 10th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Tyler Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $456.72.
About Tyler Technologies
Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.
Tyler’s product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.
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