Voya Financial Advisors Inc. Sells 137 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Voya Financial Advisors Inc. cut its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 7.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,825 shares of the technology company’s stock after selling 137 shares during the period. Voya Financial Advisors Inc.’s holdings in Tyler Technologies were worth $1,057,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TYL. Norges Bank bought a new stake in Tyler Technologies during the fourth quarter worth $528,465,000. Van ECK Associates Corp boosted its holdings in Tyler Technologies by 1,991.8% during the 4th quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock worth $317,486,000 after acquiring an additional 524,259 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Tyler Technologies in the 4th quarter worth $159,947,000. JPMorgan Chase & Co. raised its holdings in shares of Tyler Technologies by 148.2% in the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock valued at $269,369,000 after purchasing an additional 275,511 shares during the last quarter. Finally, Seilern Investment Management Ltd bought a new position in shares of Tyler Technologies during the fourth quarter valued at about $105,549,000. 93.30% of the stock is owned by hedge funds and other institutional investors.

Tyler Technologies Stock Down 6.8 %

TYL opened at $530.35 on Friday. The company has a 50 day moving average of $579.67 and a 200 day moving average of $594.40. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies, Inc. has a 12 month low of $435.03 and a 12 month high of $661.31. The company has a market cap of $22.86 billion, a PE ratio of 87.52, a price-to-earnings-growth ratio of 4.93 and a beta of 0.84.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.56 by $0.22. The business had revenue of $562.43 million for the quarter, compared to analysts’ expectations of $556.45 million. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. During the same quarter in the prior year, the firm posted $2.20 EPS. On average, sell-side analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wells Fargo & Company dropped their target price on shares of Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Barclays dropped their price target on Tyler Technologies from $715.00 to $700.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Truist Financial restated a “buy” rating and issued a $775.00 price objective (up previously from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. DA Davidson reissued a “neutral” rating and issued a $575.00 price target on shares of Tyler Technologies in a report on Thursday, January 30th. Finally, The Goldman Sachs Group raised their price objective on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Tyler Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $678.75.

Insider Activity at Tyler Technologies

In other news, CEO H Lynn Moore, Jr. sold 6,514 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the completion of the transaction, the chief executive officer now directly owns 75,734 shares in the company, valued at $46,772,561.06. The trade was a 7.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Brian K. Miller sold 1,550 shares of the stock in a transaction on Tuesday, March 4th. The stock was 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 owns 14,026 shares in the company, valued at $8,606,073.08. This trade represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,064 shares of company stock valued at $8,688,030. Corporate insiders own 1.10% 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.