Corebridge Financial Inc. Sells 37 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Corebridge Financial Inc. decreased its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 0.3% in the 4th quarter, Holdings Channel reports. The fund owned 11,257 shares of the technology company’s stock after selling 37 shares during the quarter. Corebridge Financial Inc.’s holdings in Tyler Technologies were worth $6,491,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Oregon Public Employees Retirement Fund boosted its stake in Tyler Technologies by 0.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,668 shares of the technology company’s stock worth $2,115,000 after purchasing an additional 20 shares during the period. Kensington Investment Counsel LLC lifted its holdings in shares of Tyler Technologies by 0.8% in the fourth quarter. Kensington Investment Counsel LLC now owns 2,496 shares of the technology company’s stock valued at $1,439,000 after purchasing an additional 20 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Tyler Technologies by 18.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the technology company’s stock worth $78,000 after buying an additional 21 shares during the period. Baron Wealth Management LLC raised its position in Tyler Technologies by 1.5% in the 4th quarter. Baron Wealth Management LLC now owns 1,487 shares of the technology company’s stock valued at $857,000 after buying an additional 22 shares during the last quarter. Finally, Choreo LLC raised its position in Tyler Technologies by 3.9% in the 4th quarter. Choreo LLC now owns 647 shares of the technology company’s stock valued at $374,000 after buying an additional 24 shares during the last quarter. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Tyler Technologies Stock Performance

Tyler Technologies stock opened at $579.39 on Friday. The business has a 50 day moving average of $599.76 and a 200-day moving average of $597.62. The company has a market capitalization of $24.98 billion, a P/E ratio of 95.61, a P/E/G ratio of 4.93 and a beta of 0.80. Tyler Technologies, Inc. has a 1 year low of $397.80 and a 1 year high of $661.31. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21.

Tyler Technologies (NYSE:TYL) last announced its quarterly 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 net margin of 12.30% and a return on equity of 10.15%. On average, equities research analysts predict that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO H Lynn Moore, Jr. sold 6,514 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $617.59, for a total value of $4,022,981.26. Following the transaction, the chief executive officer now directly owns 75,734 shares of the company’s stock, valued at $46,772,561.06. The trade was a 7.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian K. Miller sold 1,550 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $613.58, for a total transaction of $951,049.00. Following the sale, the chief financial officer now directly owns 14,026 shares of the company’s stock, valued at $8,606,073.08. This represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,064 shares of company stock valued at $8,688,030 in the last three months. Insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TYL. The Goldman Sachs Group raised their price objective on Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Piper Sandler upped their price objective on shares of Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Needham & Company LLC reiterated a “buy” rating and set a $700.00 target price on shares of Tyler Technologies in a research note on Tuesday, January 21st. DA Davidson reaffirmed a “neutral” rating and set a $575.00 price target on shares of Tyler Technologies in a research report on Thursday, January 30th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $615.00 price objective (down from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $676.25.

About Tyler Technologies

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.