CENTRAL TRUST Co Reduces Stock Position in Tyler Technologies, Inc. (NYSE:TYL)

CENTRAL TRUST Co reduced its stake in Tyler Technologies, Inc. (NYSE:TYL) by 29.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 331 shares of the technology company’s stock after selling 137 shares during the period. CENTRAL TRUST Co’s holdings in Tyler Technologies were worth $141,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in Tyler Technologies by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 4,969,048 shares of the technology company’s stock worth $2,077,658,000 after acquiring an additional 55,629 shares in the last quarter. Norges Bank acquired a new stake in shares of Tyler Technologies during the fourth quarter worth about $459,691,000. Franklin Resources Inc. increased its position in shares of Tyler Technologies by 6.7% during the fourth quarter. Franklin Resources Inc. now owns 1,040,341 shares of the technology company’s stock worth $434,987,000 after purchasing an additional 64,889 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Tyler Technologies by 21.1% in the 3rd quarter. Morgan Stanley now owns 1,015,713 shares of the technology company’s stock valued at $392,208,000 after purchasing an additional 177,242 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Tyler Technologies by 5.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 872,960 shares of the technology company’s stock valued at $365,002,000 after acquiring an additional 49,008 shares during the period. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Insider Transactions at Tyler Technologies

In other news, Director Daniel M. Pope sold 520 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $491.18, for a total value of $255,413.60. Following the sale, the director now directly owns 3,493 shares in the company, valued at $1,715,691.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tyler Technologies news, Director Brenda A. Cline sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $458.83, for a total transaction of $2,294,150.00. Following the sale, the director now directly owns 1,358 shares of the company’s stock, valued at approximately $623,091.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel M. Pope sold 520 shares of Tyler Technologies stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $491.18, for a total transaction of $255,413.60. Following the sale, the director now owns 3,493 shares of the company’s stock, valued at $1,715,691.74. The disclosure for this sale can be found here. Insiders sold 62,549 shares of company stock valued at $27,931,420 in the last 90 days. 1.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TYL has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on shares of Tyler Technologies from $500.00 to $526.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Robert W. Baird upped their price target on Tyler Technologies from $500.00 to $525.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. BTIG Research lifted their price objective on shares of Tyler Technologies from $515.00 to $550.00 and gave the company a “buy” rating in a research report on Wednesday. Oppenheimer raised their target price on shares of Tyler Technologies from $500.00 to $550.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Needham & Company LLC lifted their target price on shares of Tyler Technologies from $500.00 to $600.00 and gave the company a “buy” rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $514.55.

Tyler Technologies Price Performance

TYL traded up $1.52 on Wednesday, hitting $497.50. 147,683 shares of the company were exchanged, compared to its average volume of 210,041. The business’s fifty day moving average is $440.41 and its 200 day moving average is $428.21. Tyler Technologies, Inc. has a fifty-two week low of $361.16 and a fifty-two week high of $500.49. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $21.12 billion, a P/E ratio of 112.56, a price-to-earnings-growth ratio of 4.61 and a beta of 0.76.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $1.74 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.26. The business had revenue of $512.36 million for the quarter, compared to analysts’ expectations of $507.79 million. Tyler Technologies had a return on equity of 9.35% and a net margin of 9.50%. As a group, sell-side analysts anticipate that Tyler Technologies, Inc. will post 7.14 EPS for the current year.

About Tyler Technologies

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.