Red Spruce Capital LLC Sells 119 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Red Spruce Capital LLC cut its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 11.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 967 shares of the technology company’s stock after selling 119 shares during the quarter. Red Spruce Capital LLC’s holdings in Tyler Technologies were worth $558,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American Century Companies Inc. increased its stake in shares of Tyler Technologies by 6.3% in the second quarter. American Century Companies Inc. now owns 2,185 shares of the technology company’s stock worth $1,099,000 after purchasing an additional 130 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Tyler Technologies by 10.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 157,027 shares of the technology company’s stock worth $78,942,000 after buying an additional 14,595 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in Tyler Technologies by 1.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 1,746 shares of the technology company’s stock worth $878,000 after buying an additional 33 shares in the last quarter. Intech Investment Management LLC raised its holdings in Tyler Technologies by 72.6% during the second quarter. Intech Investment Management LLC now owns 3,572 shares of the technology company’s stock valued at $1,796,000 after acquiring an additional 1,502 shares during the period. Finally, Benjamin F. Edwards & Company Inc. lifted its position in shares of Tyler Technologies by 6.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,116 shares of the technology company’s stock valued at $561,000 after acquiring an additional 72 shares in the last quarter. 93.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TYL. DA Davidson increased their target price on Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Barclays increased their price objective on shares of Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Needham & Company LLC reissued a “buy” rating and issued a $700.00 target price on shares of Tyler Technologies in a report on Tuesday. Truist Financial reaffirmed a “buy” rating and set a $685.00 target price (up from $600.00) on shares of Tyler Technologies in a research note on Friday, October 25th. Finally, StockNews.com cut shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $643.77.

Insider Activity

In other news, CFO Brian K. Miller sold 3,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 11,950 shares of the company’s stock, valued at approximately $7,202,504. This represents a 20.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO H Lynn Moore, Jr. sold 3,250 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $631.41, for a total value of $2,052,082.50. Following the sale, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at $47,355,750. This represents a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,252 shares of company stock valued at $26,096,928. 1.50% of the stock is currently owned by company insiders.

Tyler Technologies Trading Up 2.7 %

Shares of TYL stock opened at $584.69 on Wednesday. The company has a market cap of $25.02 billion, a PE ratio of 106.70, a price-to-earnings-growth ratio of 4.42 and a beta of 0.78. Tyler Technologies, Inc. has a 1 year low of $397.80 and a 1 year high of $638.56. The stock’s 50 day simple moving average is $599.03 and its two-hundred day simple moving average is $585.05. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21.

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