MCF Advisors LLC Sells 361 Shares of Tyler Technologies, Inc. (NYSE:TYL)

MCF Advisors LLC decreased its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 8.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,030 shares of the technology company’s stock after selling 361 shares during the quarter. MCF Advisors LLC’s holdings in Tyler Technologies were worth $1,713,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Baron Wealth Management LLC boosted its holdings in Tyler Technologies by 2.0% during the 4th quarter. Baron Wealth Management LLC now owns 1,463 shares of the technology company’s stock worth $612,000 after acquiring an additional 29 shares during the last quarter. Centered Wealth LLC dba Miller Equity Capital Advisors boosted its holdings in shares of Tyler Technologies by 0.8% in the 4th quarter. Centered Wealth LLC dba Miller Equity Capital Advisors now owns 3,920 shares of the technology company’s stock worth $1,639,000 after buying an additional 30 shares during the last quarter. GW&K Investment Management LLC boosted its holdings in shares of Tyler Technologies by 0.3% in the 4th quarter. GW&K Investment Management LLC now owns 12,044 shares of the technology company’s stock worth $5,035,000 after buying an additional 31 shares during the last quarter. Avantax Advisory Services Inc. boosted its holdings in shares of Tyler Technologies by 5.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 670 shares of the technology company’s stock worth $280,000 after buying an additional 33 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Tyler Technologies by 0.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 10,965 shares of the technology company’s stock worth $4,585,000 after buying an additional 34 shares during the last quarter. Institutional investors own 93.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TYL. BTIG Research boosted their price target on shares of Tyler Technologies from $515.00 to $550.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Loop Capital boosted their price target on shares of Tyler Technologies from $485.00 to $530.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. JMP Securities reissued a “market outperform” rating and issued a $490.00 price target on shares of Tyler Technologies in a report on Friday, April 26th. Truist Financial reissued a “buy” rating and issued a $560.00 price target (up from $510.00) on shares of Tyler Technologies in a report on Thursday, May 23rd. Finally, Needham & Company LLC upped their price objective on shares of Tyler Technologies from $500.00 to $600.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Tyler Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $519.09.

Tyler Technologies Price Performance

Shares of TYL traded up $8.97 during midday trading on Friday, hitting $502.78. 665,137 shares of the company traded hands, compared to its average volume of 251,870. The stock has a 50-day moving average of $476.60 and a 200-day moving average of $441.36. Tyler Technologies, Inc. has a one year low of $361.16 and a one year high of $506.07. The firm has a market cap of $21.35 billion, a P/E ratio of 113.75, a PEG ratio of 4.64 and a beta of 0.74. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.94 and a quick ratio of 0.94.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $1.74 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.26. Tyler Technologies had a return on equity of 9.35% and a net margin of 9.50%. The firm had revenue of $512.36 million for the quarter, compared to analysts’ expectations of $507.79 million. As a group, sell-side analysts predict that Tyler Technologies, Inc. will post 7.1 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider John S. Marr, Jr. sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $483.21, for a total value of $2,899,260.00. Following the transaction, the insider now directly owns 6,983 shares in the company, valued at $3,374,255.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider John S. Marr, Jr. sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $483.21, for a total value of $2,899,260.00. Following the transaction, the insider now directly owns 6,983 shares in the company, valued at $3,374,255.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Daniel M. Pope sold 520 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $491.18, for a total value of $255,413.60. Following the completion of the sale, the director now directly owns 3,493 shares of the company’s stock, valued at approximately $1,715,691.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,241 shares of company stock worth $12,495,890. 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.