Alliancebernstein L.P. Reduces Position in Tyler Technologies, Inc. (NYSE:TYL)

Alliancebernstein L.P. decreased its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 46,485 shares of the technology company’s stock after selling 695 shares during the quarter. Alliancebernstein L.P. owned 0.11% of Tyler Technologies worth $26,805,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Larson Financial Group LLC raised its holdings in shares of Tyler Technologies by 221.4% during the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock valued at $26,000 after purchasing an additional 31 shares during the last quarter. Sierra Ocean LLC bought a new stake in Tyler Technologies in the 4th quarter worth approximately $32,000. Brown Brothers Harriman & Co. raised its stake in Tyler Technologies by 300.0% during 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. OFI Invest Asset Management bought a new position in shares of Tyler Technologies during the 4th quarter valued at $41,000. Finally, Smithfield Trust Co boosted its stake in shares of Tyler Technologies by 55.6% in the 4th quarter. Smithfield Trust Co now owns 84 shares of the technology company’s stock worth $48,000 after buying an additional 30 shares during the last quarter. Institutional investors own 93.30% of the company’s stock.

Tyler Technologies Trading Down 5.3 %

Shares of TYL stock opened at $539.40 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. The stock has a fifty day simple moving average of $598.37 and a two-hundred day simple moving average of $597.34. The firm has a market capitalization of $23.25 billion, a PE ratio of 89.01, a PEG ratio of 4.93 and a beta of 0.84. Tyler Technologies, Inc. has a 52-week low of $397.80 and a 52-week high of $661.31.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. On average, analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Insider Activity

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,514 shares of Tyler Technologies stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total value of $4,022,981.26. Following the sale, the chief executive officer now directly owns 75,734 shares in the company, valued at approximately $46,772,561.06. The trade was a 7.92 % 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 1,550 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $613.58, for a total transaction of $951,049.00. Following the completion of the sale, the chief financial officer now owns 14,026 shares in the company, valued at approximately $8,606,073.08. The trade was a 9.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,064 shares of company stock worth $8,688,030 over the last quarter. Insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on TYL shares. Needham & Company LLC reissued a “buy” rating and issued a $700.00 target price on shares of Tyler Technologies in a report on Tuesday, January 21st. Truist Financial reiterated a “buy” rating and issued a $775.00 price objective (up previously from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. DA Davidson restated a “neutral” rating and set a $575.00 target price on shares of Tyler Technologies in a research report on Thursday, January 30th. Barclays increased their price target on shares of Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $615.00 price objective (down previously from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Tyler Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $676.25.

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.