Louisiana State Employees Retirement System Decreases Stake in Tyler Technologies, Inc. (NYSE:TYL)

Louisiana State Employees Retirement System cut its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 4.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,300 shares of the technology company’s stock after selling 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Tyler Technologies were worth $1,326,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Portfolio Design Labs LLC purchased a new position in shares of Tyler Technologies during the 4th quarter worth $315,000. Axecap Investments LLC increased its stake in Tyler Technologies by 45.0% in the fourth quarter. Axecap Investments LLC now owns 4,825 shares of the technology company’s stock valued at $2,782,000 after purchasing an additional 1,497 shares during the last quarter. Empowered Funds LLC lifted its position in Tyler Technologies by 54.6% during the fourth quarter. Empowered Funds LLC now owns 3,588 shares of the technology company’s stock worth $2,069,000 after buying an additional 1,267 shares during the period. Apollon Wealth Management LLC acquired a new stake in Tyler Technologies in the 4th quarter worth about $221,000. Finally, EULAV Asset Management grew its holdings in Tyler Technologies by 7.3% in the 4th quarter. EULAV Asset Management now owns 245,684 shares of the technology company’s stock valued at $141,671,000 after buying an additional 16,700 shares during the period. 93.30% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tyler Technologies

In related news, insider John S. Marr, Jr. sold 12,000 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $613.66, for a total value of $7,363,920.00. Following the sale, the insider now owns 6,983 shares of the company’s stock, valued at $4,285,187.78. This trade represents a 63.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO H Lynn Moore, Jr. sold 3,250 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $631.41, for a total transaction of $2,052,082.50. Following the transaction, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at $47,355,750. The trade was a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,502 shares of company stock valued at $18,941,368. 2.20% of the stock is currently owned by insiders.

Tyler Technologies Stock Down 0.7 %

Shares of NYSE:TYL opened at $642.39 on Monday. The company has a market capitalization of $27.49 billion, a price-to-earnings ratio of 117.22, a price-to-earnings-growth ratio of 4.78 and a beta of 0.78. The company has a 50 day moving average of $596.21 and a two-hundred day moving average of $594.48. Tyler Technologies, Inc. has a 52-week low of $397.80 and a 52-week high of $661.31. 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 (NYSE:TYL) last announced its earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. As a group, analysts forecast that Tyler Technologies, Inc. will post 7.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TYL has been the topic of several recent analyst reports. JMP Securities increased their price objective on shares of Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a report on Friday, October 25th. DA Davidson reissued a “neutral” rating and set a $575.00 price target on shares of Tyler Technologies in a research report on Thursday, January 30th. Piper Sandler upped their price target on Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a research note on Friday. Truist Financial reaffirmed a “buy” rating and issued a $775.00 price objective (up from $685.00) on shares of Tyler Technologies in a research note on Friday. Finally, Needham & Company LLC reissued a “buy” rating and set a $700.00 target price on shares of Tyler Technologies in a research report on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $667.83.

About Tyler Technologies

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.