Citigroup Inc. Sells 3,485 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Citigroup Inc. lowered its stake in Tyler Technologies, Inc. (NYSE:TYL) by 9.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 35,407 shares of the technology company’s stock after selling 3,485 shares during the period. Citigroup Inc.’s holdings in Tyler Technologies were worth $20,668,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its stake in Tyler Technologies by 4.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 904,175 shares of the technology company’s stock worth $527,785,000 after buying an additional 36,066 shares in the last quarter. Trustmark National Bank Trust Department bought a new stake in shares of Tyler Technologies during the 3rd quarter worth approximately $1,288,000. Citizens Financial Group Inc. RI acquired a new stake in shares of Tyler Technologies during the 3rd quarter worth approximately $206,000. EULAV Asset Management increased its stake in Tyler Technologies by 3.0% in the third quarter. EULAV Asset Management now owns 228,984 shares of the technology company’s stock valued at $133,663,000 after acquiring an additional 6,601 shares during the last quarter. Finally, Kirtland Hills Capital Management LLC raised its position in Tyler Technologies by 4.1% during the third quarter. Kirtland Hills Capital Management LLC now owns 1,583 shares of the technology company’s stock valued at $924,000 after purchasing an additional 62 shares in the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

Insider Activity

In other Tyler Technologies news, Director Glenn A. Carter sold 3,350 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $582.57, for a total transaction of $1,951,609.50. Following the completion of the sale, the director now directly owns 2,654 shares in the company, valued at approximately $1,546,140.78. This trade represents a 55.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brian K. Miller sold 2,500 shares of Tyler Technologies stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $586.97, for a total value of $1,467,425.00. Following the completion of the transaction, the chief financial officer now directly owns 11,950 shares of the company’s stock, valued at approximately $7,014,291.50. This trade represents a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,600 shares of company stock valued at $23,776,515. Company insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TYL shares. DA Davidson raised their target price on Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. StockNews.com lowered Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Truist Financial reissued a “buy” rating and set a $685.00 target price (up previously from $600.00) on shares of Tyler Technologies in a research note on Friday, October 25th. 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. Finally, Oppenheimer lifted their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $642.62.

Tyler Technologies Trading Up 1.8 %

Shares of NYSE TYL opened at $635.22 on Wednesday. The firm has a 50 day moving average price of $595.99 and a two-hundred day moving average price of $553.15. The stock has a market cap of $27.19 billion, a P/E ratio of 115.92, a price-to-earnings-growth ratio of 5.52 and a beta of 0.77. Tyler Technologies, Inc. has a 52-week low of $397.80 and a 52-week high of $635.40. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21.

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 analysts’ consensus estimates of $2.43 by $0.09. The business had revenue of $543.34 million during the quarter, compared to the consensus estimate of $547.34 million. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. Tyler Technologies’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.66 earnings per share. As a group, equities analysts forecast that Tyler Technologies, Inc. will post 7.36 EPS for the current year.

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.