Tyler Technologies, Inc. (NYSE:TYL) Shares Sold by Progressive Investment Management Corp

Progressive Investment Management Corp lowered its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,783 shares of the technology company’s stock after selling 511 shares during the quarter. Tyler Technologies accounts for 2.8% of Progressive Investment Management Corp’s holdings, making the stock its 13th largest holding. Progressive Investment Management Corp’s holdings in Tyler Technologies were worth $10,831,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Cerity Partners LLC raised its holdings in Tyler Technologies by 60.6% in the 3rd quarter. Cerity Partners LLC now owns 3,847 shares of the technology company’s stock valued at $2,246,000 after buying an additional 1,451 shares during the period. Bank of Montreal Can increased its position in shares of Tyler Technologies by 2.6% during the third quarter. Bank of Montreal Can now owns 37,826 shares of the technology company’s stock valued at $21,845,000 after acquiring an additional 959 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Tyler Technologies by 1.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 26,212 shares of the technology company’s stock valued at $15,300,000 after acquiring an additional 301 shares during the period. FMR LLC lifted its holdings in shares of Tyler Technologies by 94.1% in the 3rd quarter. FMR LLC now owns 109,319 shares of the technology company’s stock worth $63,812,000 after acquiring an additional 52,984 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Tyler Technologies during the 3rd quarter worth approximately $2,491,000. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TYL has been the topic of a number of research reports. Needham & Company LLC restated a “buy” rating and set a $700.00 price target on shares of Tyler Technologies in a research note on Tuesday, January 21st. Barclays increased their target price on Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. StockNews.com downgraded Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Monday, February 24th. Truist Financial reissued a “buy” rating and set a $775.00 price target (up previously from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Finally, The Goldman Sachs Group lifted their price objective on shares of Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $676.25.

Insider Transactions at Tyler Technologies

In related news, CFO Brian K. Miller sold 1,550 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $613.58, for a total value of $951,049.00. Following the completion of the sale, the chief financial officer now directly owns 14,026 shares of the company’s stock, valued at $8,606,073.08. The trade was a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $619.00, for a total value of $3,714,000.00. Following the transaction, the insider now directly owns 6,983 shares in the company, valued at approximately $4,322,477. The trade was a 46.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,064 shares of company stock worth $8,688,030. 2.20% of the stock is currently owned by insiders.

Tyler Technologies Stock Performance

NYSE:TYL opened at $579.39 on Friday. The firm has a market capitalization of $24.98 billion, a PE ratio of 95.61, a price-to-earnings-growth ratio of 4.93 and a beta of 0.80. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21. The business’s fifty day moving average price is $599.76 and its 200 day moving average price is $597.62. Tyler Technologies, Inc. has a 12 month low of $397.80 and a 12 month high of $661.31.

Tyler Technologies (NYSE:TYL) last issued 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 return on equity of 10.15% and a net margin of 12.30%. On average, sell-side analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

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.