Allspring Global Investments Holdings LLC Sells 49,879 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Allspring Global Investments Holdings LLC lessened its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 23.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 161,522 shares of the technology company’s stock after selling 49,879 shares during the period. Allspring Global Investments Holdings LLC owned 0.38% of Tyler Technologies worth $68,648,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of TYL. Norges Bank purchased a new stake in shares of Tyler Technologies during the 4th quarter valued at about $459,691,000. Morgan Stanley increased its holdings in Tyler Technologies by 21.1% in the 3rd quarter. Morgan Stanley now owns 1,015,713 shares of the technology company’s stock worth $392,208,000 after acquiring an additional 177,242 shares in the last quarter. APG Asset Management US Inc. purchased a new stake in Tyler Technologies in the 4th quarter worth approximately $57,493,000. Van ECK Associates Corp increased its holdings in Tyler Technologies by 13.1% in the 4th quarter. Van ECK Associates Corp now owns 868,016 shares of the technology company’s stock worth $362,935,000 after acquiring an additional 100,788 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in Tyler Technologies by 6.7% in the 4th quarter. Franklin Resources Inc. now owns 1,040,341 shares of the technology company’s stock worth $434,987,000 after acquiring an additional 64,889 shares in the last quarter. Institutional investors own 93.30% of the company’s stock.

Tyler Technologies Price Performance

Shares of TYL stock opened at $509.00 on Wednesday. Tyler Technologies, Inc. has a 1-year low of $361.16 and a 1-year high of $519.44. The stock’s 50-day moving average is $480.18 and its 200 day moving average is $443.12. The company has a market cap of $21.61 billion, a P/E ratio of 115.16, a PEG ratio of 4.72 and a beta of 0.76. 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 issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $1.74 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.26. Tyler Technologies had a return on equity of 9.35% and a net margin of 9.50%. The company had revenue of $512.36 million for the quarter, compared to the consensus estimate of $507.79 million. Research analysts predict that Tyler Technologies, Inc. will post 7.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

TYL has been the subject of several analyst reports. Robert W. Baird increased their target price on shares of Tyler Technologies from $500.00 to $525.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Oppenheimer upped their price target on Tyler Technologies from $500.00 to $550.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 22nd. Loop Capital upped their price target on Tyler Technologies from $485.00 to $530.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. Truist Financial restated a “buy” rating and issued a $560.00 price target (up from $510.00) on shares of Tyler Technologies in a research note on Thursday, May 23rd. Finally, Needham & Company LLC upped their price target on Tyler Technologies from $500.00 to $600.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $519.09.

Insider Activity at Tyler Technologies

In related news, Director Daniel M. Pope sold 520 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $491.18, for a total transaction of $255,413.60. Following the sale, the director now owns 3,493 shares of the company’s stock, valued at $1,715,691.74. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Tyler Technologies news, Director Daniel M. Pope sold 520 shares of the firm’s stock in a transaction dated 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 owns 3,493 shares of the company’s stock, valued at $1,715,691.74. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $483.21, for a total value of $2,899,260.00. Following the completion of the sale, the insider now directly owns 6,983 shares of the company’s stock, valued at approximately $3,374,255.43. The disclosure for this sale can be found here. Insiders have sold a total of 26,241 shares of company stock valued at $12,495,890 over the last quarter. 1.50% of the stock is owned by corporate insiders.

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.