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

OneDigital Investment Advisors LLC lowered its position in Tyler Technologies, Inc. (NYSE:TYL) by 5.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 628 shares of the technology company’s stock after selling 37 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Tyler Technologies were worth $367,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Independence Bank of Kentucky acquired a new stake in shares of Tyler Technologies in the 2nd quarter worth about $25,000. Ashton Thomas Securities LLC acquired a new position in shares of Tyler Technologies in the third quarter worth $27,000. Covestor Ltd raised its position in Tyler Technologies by 153.6% during the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock valued at $30,000 after acquiring an additional 43 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Tyler Technologies by 329.4% in the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock valued at $37,000 after acquiring an additional 56 shares in the last quarter. Finally, Lynx Investment Advisory bought a new stake in Tyler Technologies during the second quarter valued at about $38,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $586.97, for a total transaction of $1,467,425.00. Following the completion of the transaction, the chief financial officer now owns 11,950 shares in the company, valued at $7,014,291.50. This trade represents a 17.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Glenn A. Carter sold 3,350 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $582.57, for a total transaction of $1,951,609.50. Following the completion of the transaction, the director now directly owns 2,654 shares of the company’s stock, valued at approximately $1,546,140.78. This trade represents a 55.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,600 shares of company stock valued at $16,412,595. 2.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. StockNews.com cut shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday. Truist Financial reiterated a “buy” rating and set a $685.00 target price (up from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Needham & Company LLC lifted their price target on Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. BTIG Research upped their price target on Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Barclays increased their target price on shares of Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $642.62.

Tyler Technologies Stock Performance

Shares of TYL stock opened at $597.21 on Friday. The company has a market capitalization of $25.56 billion, a P/E ratio of 109.50, a PEG ratio of 5.41 and a beta of 0.77. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a 50 day moving average price of $594.40 and a two-hundred day moving average price of $549.91. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $631.43.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.09. The business had revenue of $543.34 million for 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 revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.66 EPS. Analysts expect that Tyler Technologies, Inc. will post 7.39 earnings per share for the current year.

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.