West Tower Group LLC Sells 200 Shares of Tyler Technologies, Inc. (NYSE:TYL)

West Tower Group LLC trimmed its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 8.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,050 shares of the technology company’s stock after selling 200 shares during the quarter. Tyler Technologies comprises approximately 2.5% of West Tower Group LLC’s portfolio, making the stock its 7th biggest position. West Tower Group LLC’s holdings in Tyler Technologies were worth $1,197,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Swedbank AB purchased a new stake in shares of Tyler Technologies in the 2nd quarter valued at about $251,390,000. International Assets Investment Management LLC increased its position in Tyler Technologies by 252,047.5% during the third quarter. International Assets Investment Management LLC now owns 307,620 shares of the technology company’s stock worth $179,564,000 after buying an additional 307,498 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Tyler Technologies by 18.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 424,982 shares of the technology company’s stock valued at $180,622,000 after buying an additional 65,814 shares during the last quarter. Westwind Capital boosted its holdings in shares of Tyler Technologies by 7,614.0% in the third quarter. Westwind Capital now owns 46,361 shares of the technology company’s stock valued at $27,062,000 after acquiring an additional 45,760 shares during the period. Finally, LMR Partners LLP purchased a new position in shares of Tyler Technologies during the third quarter worth approximately $23,383,000. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Glenn A. Carter sold 3,350 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $582.57, for a total value of $1,951,609.50. Following the sale, the director now directly owns 2,654 shares in the company, valued at $1,546,140.78. This represents a 55.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of Tyler Technologies stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $590.98, for a total value of $2,954,900.00. Following the transaction, the chief executive officer now owns 75,000 shares of the company’s stock, valued at $44,323,500. This represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,600 shares of company stock worth $16,412,595 in the last quarter. Company insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TYL shares. The Goldman Sachs Group reiterated a “buy” rating and issued a $627.00 price target on shares of Tyler Technologies in a research report on Friday, September 13th. Oppenheimer increased their target price on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Barclays raised their price target on Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Truist Financial reaffirmed a “buy” rating and set a $685.00 price objective (up from $600.00) on shares of Tyler Technologies in a research note on Friday, October 25th. Finally, StockNews.com downgraded Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $642.62.

Tyler Technologies Price Performance

Tyler Technologies stock opened at $624.16 on Tuesday. 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, Inc. has a one year low of $397.80 and a one year high of $631.43. The company has a market cap of $26.71 billion, a P/E ratio of 113.90, a price-to-earnings-growth ratio of 5.52 and a beta of 0.77. The business has a fifty day moving average of $595.22 and a two-hundred day moving average of $552.15.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.09. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The firm had revenue of $543.34 million for the quarter, compared to the consensus estimate of $547.34 million. During the same quarter in the previous year, the firm earned $1.66 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. As a group, analysts predict that Tyler Technologies, Inc. will post 7.36 earnings per share for the current fiscal 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.