Commerce Bank Has $4.55 Million Position in Tyler Technologies, Inc. (NYSE:TYL)

Commerce Bank lessened its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 10.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 7,795 shares of the technology company’s stock after selling 918 shares during the quarter. Commerce Bank’s holdings in Tyler Technologies were worth $4,550,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in Tyler Technologies during the third quarter valued at about $27,000. Independence Bank of Kentucky bought a new stake in Tyler Technologies during the 2nd quarter valued at approximately $25,000. Covestor Ltd grew its holdings in Tyler Technologies by 153.6% in the 1st quarter. Covestor Ltd now owns 71 shares of the technology company’s stock valued at $30,000 after buying an additional 43 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Tyler Technologies by 329.4% in the second quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock valued at $37,000 after acquiring an additional 56 shares during the period. Finally, Lynx Investment Advisory acquired a new stake in shares of Tyler Technologies in the second quarter worth $38,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TYL has been the subject of a number of research reports. Evercore ISI raised shares of Tyler Technologies to a “hold” rating in a report on Friday, July 26th. DA Davidson increased their target price on shares of Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. BTIG Research upped their price target on Tyler Technologies from $550.00 to $630.00 and gave the company a “buy” rating in a report on Friday, July 26th. The Goldman Sachs Group reissued a “buy” rating and set a $627.00 price objective on shares of Tyler Technologies in a report on Friday, September 13th. Finally, Piper Sandler upped their target price on Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $642.62.

Tyler Technologies Stock Performance

NYSE TYL opened at $609.09 on Friday. Tyler Technologies, Inc. has a 1-year low of $397.80 and a 1-year high of $631.43. The company has a 50 day moving average of $594.68 and a 200-day moving average of $550.24. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The firm has a market cap of $26.07 billion, a price-to-earnings ratio of 111.15, a PEG ratio of 5.41 and a beta of 0.77.

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 analysts’ consensus estimates of $2.43 by $0.09. The firm had revenue of $543.34 million during the quarter, compared to analysts’ expectations of $547.34 million. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The business’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm posted $1.66 EPS. On average, equities analysts forecast that Tyler Technologies, Inc. will post 7.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tyler Technologies news, CFO Brian K. Miller sold 2,500 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $586.97, for a total transaction of $1,467,425.00. Following the transaction, the chief financial officer now owns 11,950 shares of the company’s stock, valued at approximately $7,014,291.50. This represents a 17.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Glenn A. Carter sold 3,350 shares of Tyler Technologies stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $582.57, for a total value of $1,951,609.50. Following the completion of the sale, the director now directly owns 2,654 shares of the company’s stock, valued at $1,546,140.78. This trade represents a 55.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,600 shares of company stock worth $16,412,595 in the last 90 days. Corporate 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.