Tyler Technologies, Inc. (NYSE:TYL) Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC trimmed its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 7.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 533 shares of the technology company’s stock after selling 45 shares during the quarter. Parallel Advisors LLC’s holdings in Tyler Technologies were worth $310,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Larson Financial Group LLC grew its position in Tyler Technologies by 221.4% in the 4th quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock valued at $26,000 after buying an additional 31 shares during the last quarter. Sierra Ocean LLC purchased a new position in Tyler Technologies in the 4th quarter valued at $32,000. Brown Brothers Harriman & Co. grew its position in Tyler Technologies by 300.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock valued at $32,000 after buying an additional 42 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new position in Tyler Technologies in the 4th quarter valued at $40,000. Finally, OFI Invest Asset Management purchased a new position in Tyler Technologies in the 4th quarter valued at $41,000. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TYL. Cantor Fitzgerald initiated coverage on shares of Tyler Technologies in a research report on Tuesday. They issued a “neutral” rating and a $600.00 price objective on the stock. Wall Street Zen lowered shares of Tyler Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. DA Davidson dropped their price objective on shares of Tyler Technologies from $595.00 to $570.00 and set a “neutral” rating for the company in a research note on Friday, April 25th. Needham & Company LLC reissued a “buy” rating and set a $750.00 target price on shares of Tyler Technologies in a research report on Tuesday, May 13th. Finally, Piper Sandler dropped their target price on shares of Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating for the company in a research report on Friday, April 25th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $680.50.

Tyler Technologies Stock Performance

TYL stock opened at $578.75 on Thursday. The stock has a market capitalization of $24.96 billion, a price-to-earnings ratio of 95.50, a PEG ratio of 4.93 and a beta of 0.88. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. Tyler Technologies, Inc. has a 1 year low of $458.50 and a 1 year high of $661.31. The stock’s fifty day moving average is $561.04 and its two-hundred day moving average is $586.27.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.56 by $0.22. The company had revenue of $562.43 million for the quarter, compared to analyst estimates of $556.45 million. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the company earned $2.20 earnings per share. On average, research analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Insider Buying and Selling

In related news, CFO Brian K. Miller sold 3,333 shares of Tyler Technologies stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $568.46, for a total value of $1,894,677.18. Following the transaction, the chief financial officer now owns 11,231 shares of the company’s stock, valued at approximately $6,384,374.26. This trade represents a 22.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Brenda A. Cline sold 2,500 shares of Tyler Technologies stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $577.41, for a total value of $1,443,525.00. Following the transaction, the director now directly owns 2,519 shares in the company, valued at approximately $1,454,495.79. This trade represents a 49.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,231 shares of company stock valued at $9,183,738 over the last three months. Company insiders own 1.10% of the company’s stock.

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.