MML Investors Services LLC Decreases Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

MML Investors Services LLC trimmed its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 6.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,937 shares of the technology company’s stock after selling 205 shares during the quarter. MML Investors Services LLC’s holdings in Tyler Technologies were worth $1,714,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Aigen Investment Management LP acquired a new stake in shares of Tyler Technologies during the 3rd quarter worth approximately $1,309,000. Maiden Cove Capital LLC acquired a new stake in shares of Tyler Technologies during the 3rd quarter worth approximately $583,000. Assetmark Inc. increased its holdings in shares of Tyler Technologies by 9.4% during the 3rd quarter. Assetmark Inc. now owns 9,910 shares of the technology company’s stock worth $5,785,000 after buying an additional 854 shares during the last quarter. MBB Public Markets I LLC acquired a new stake in shares of Tyler Technologies during the 2nd quarter worth approximately $1,564,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Tyler Technologies during the 3rd quarter worth approximately $569,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Insider Transactions at Tyler Technologies

In other news, insider John S. Marr, Jr. sold 12,000 shares of Tyler Technologies stock in a transaction on Monday, November 25th. The shares were sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the completion of the sale, the insider now directly owns 6,983 shares of the company’s stock, valued at approximately $4,285,187.78. The trade was a 63.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian K. Miller sold 3,000 shares of Tyler Technologies stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $602.72, for a total transaction of $1,808,160.00. Following the sale, the chief financial officer now directly owns 11,950 shares of the company’s stock, valued at approximately $7,202,504. This trade represents a 20.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 42,252 shares of company stock valued at $26,096,928. Insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on TYL shares. The Goldman Sachs Group restated a “buy” rating and set a $627.00 price target on shares of Tyler Technologies in a report on Friday, September 13th. Needham & Company LLC lifted their target price on shares of Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Truist Financial reiterated a “buy” rating and issued a $685.00 target price (up previously from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Piper Sandler lifted their target price on shares of Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Oppenheimer lifted their target price on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $642.62.

Tyler Technologies Stock Performance

NYSE:TYL opened at $607.97 on Wednesday. The company has a fifty day simple moving average of $609.38 and a two-hundred day simple moving average of $567.72. The company has a market cap of $26.02 billion, a price-to-earnings ratio of 110.94, a price-to-earnings-growth ratio of 5.54 and a beta of 0.76. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies, Inc. has a 52 week low of $397.80 and a 52 week high of $638.56.

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

Tyler Technologies 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.