Core Alternative Capital Decreases Stock Position in Tyler Technologies, Inc. (NYSE:TYL)

Core Alternative Capital lowered its stake in Tyler Technologies, Inc. (NYSE:TYL) by 52.4% during the 4th quarter, Holdings Channel reports. The firm owned 50 shares of the technology company’s stock after selling 55 shares during the quarter. Core Alternative Capital’s holdings in Tyler Technologies were worth $29,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of TYL. International Assets Investment Management LLC lifted its stake in Tyler Technologies by 252,047.5% in the 3rd quarter. International Assets Investment Management LLC now owns 307,620 shares of the technology company’s stock worth $179,564,000 after purchasing an additional 307,498 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Tyler Technologies by 148.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock worth $269,369,000 after purchasing an additional 275,511 shares in the last quarter. Seilern Investment Management Ltd purchased a new stake in shares of Tyler Technologies during the 4th quarter valued at about $105,549,000. FMR LLC raised its position in shares of Tyler Technologies by 94.1% during the 3rd quarter. FMR LLC now owns 109,319 shares of the technology company’s stock valued at $63,812,000 after buying an additional 52,984 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Tyler Technologies by 120.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 81,487 shares of the technology company’s stock valued at $46,989,000 after buying an additional 44,584 shares in the last quarter. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Price Performance

Shares of TYL stock opened at $612.18 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market capitalization of $26.20 billion, a P/E ratio of 111.71, a P/E/G ratio of 4.78 and a beta of 0.78. The company’s 50-day simple moving average is $596.22 and its two-hundred day simple moving average is $593.06. Tyler Technologies, Inc. has a one year low of $397.80 and a one year high of $638.56.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TYL. Oppenheimer upped their target price on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. 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. Piper Sandler upped their target price on shares of Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Robert W. Baird upped their target price on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, Truist Financial restated a “buy” rating and set a $685.00 target price (up from $600.00) on shares of Tyler Technologies in a research report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $645.69.

Insiders Place Their Bets

In other Tyler Technologies news, insider John S. Marr, Jr. sold 12,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $613.66, for a total value of $7,363,920.00. Following the transaction, the insider now directly owns 6,983 shares in the company, valued at $4,285,187.78. This represents a 63.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian K. Miller sold 2,500 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $632.01, for a total transaction of $1,580,025.00. Following the completion of the transaction, the chief financial officer now owns 12,198 shares in the company, valued at $7,709,257.98. This represents a 17.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock worth $18,941,368 in the last three months. Corporate insiders own 2.20% of the company’s stock.

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.