Montanaro Asset Management Ltd Has $30.19 Million Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Montanaro Asset Management Ltd decreased its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 12.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 52,360 shares of the technology company’s stock after selling 7,600 shares during the period. Tyler Technologies makes up 6.2% of Montanaro Asset Management Ltd’s holdings, making the stock its biggest holding. Montanaro Asset Management Ltd’s holdings in Tyler Technologies were worth $30,193,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its holdings in shares of Tyler Technologies by 1,991.8% in the 4th quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock valued at $317,486,000 after buying an additional 524,259 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Tyler Technologies during the 4th quarter worth about $159,947,000. JPMorgan Chase & Co. grew its stake in Tyler Technologies by 148.2% in the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock valued at $269,369,000 after purchasing an additional 275,511 shares in the last quarter. Seilern Investment Management Ltd acquired a new position in Tyler Technologies during the fourth quarter worth $105,549,000. Finally, Wealthfront Advisers LLC raised its holdings in shares of Tyler Technologies by 8,973.6% in the 4th quarter. Wealthfront Advisers LLC now owns 154,433 shares of the technology company’s stock valued at $89,052,000 after purchasing an additional 152,731 shares during the period. Institutional investors own 93.30% of the company’s stock.

Tyler Technologies Price Performance

Shares of NYSE:TYL opened at $577.53 on Thursday. 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 firm has a market cap of $24.89 billion, a price-to-earnings ratio of 95.30, a P/E/G ratio of 4.93 and a beta of 0.80. The firm has a fifty day moving average price of $599.49 and a 200 day moving average price of $597.82. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $661.31.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, February 12th. The technology company reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. As a group, sell-side analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the completion of the sale, the insider now owns 6,983 shares in the company, valued at $4,322,477. This trade represents a 46.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brian K. Miller sold 1,550 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $613.58, for a total value of $951,049.00. Following the transaction, the chief financial officer now owns 14,026 shares in the company, valued at approximately $8,606,073.08. This represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,064 shares of company stock valued at $8,688,030. Company insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

TYL has been the subject of several research reports. Piper Sandler raised their price objective on shares of Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a research report 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 note on Thursday, January 30th. Wells Fargo & Company restated an “equal weight” rating and issued a $615.00 price target (down from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. The Goldman Sachs Group boosted their price objective on Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Finally, StockNews.com downgraded Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Monday, February 24th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $676.25.

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.