Centiva Capital LP Decreases Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Centiva Capital LP lowered its position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 43.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 861 shares of the technology company's stock after selling 659 shares during the quarter. Centiva Capital LP's holdings in Tyler Technologies were worth $496,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Oak Thistle LLC lifted its holdings in shares of Tyler Technologies by 213.7% during the fourth quarter. Oak Thistle LLC now owns 2,328 shares of the technology company's stock worth $1,342,000 after buying an additional 1,586 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in Tyler Technologies by 20.7% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 42,500 shares of the technology company's stock valued at $24,507,000 after purchasing an additional 7,300 shares in the last quarter. Kensington Investment Counsel LLC raised its stake in Tyler Technologies by 0.8% in the fourth quarter. Kensington Investment Counsel LLC now owns 2,496 shares of the technology company's stock valued at $1,439,000 after purchasing an additional 20 shares in the last quarter. Diversified Trust Co acquired a new position in Tyler Technologies in the fourth quarter valued at about $596,000. Finally, Fiduciary Alliance LLC acquired a new position in Tyler Technologies in the fourth quarter valued at about $1,594,000. Institutional investors and hedge funds own 93.30% of the company's stock.

Tyler Technologies Trading Down 0.7%

Shares of Tyler Technologies stock traded down $3.90 on Wednesday, hitting $563.90. The stock had a trading volume of 352,861 shares, compared to its average volume of 260,294. The stock has a 50 day moving average of $560.95 and a 200 day moving average of $590.20. Tyler Technologies, Inc. has a twelve month low of $458.50 and a twelve month high of $661.31. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. The firm has a market capitalization of $24.32 billion, a P/E ratio of 93.05, a PEG ratio of 4.93 and a beta of 0.88.

Tyler Technologies (NYSE:TYL - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.22. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The company had revenue of $562.43 million during the quarter, compared to the consensus estimate of $556.45 million. During the same quarter in the prior year, the firm posted $2.20 earnings per share. The firm's revenue was up 10.3% compared to the same quarter last year. Sell-side analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Tyler Technologies

In related news, Director Daniel M. Pope sold 365 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $550.00, for a total value of $200,750.00. Following the transaction, the director now directly owns 2,853 shares in the company, valued at $1,569,150. This trade represents a 11.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John S. Marr, Jr. sold 5,000 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $558.86, for a total value of $2,794,300.00. Following the completion of the transaction, the insider now owns 6,983 shares in the company, valued at approximately $3,902,519.38. This represents a 41.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,462 shares of company stock valued at $12,258,926. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wells Fargo & Company dropped their price target on Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $750.00 price target on shares of Tyler Technologies in a research note on Tuesday. Piper Sandler dropped their price target on Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Barclays dropped their price target on Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Finally, DA Davidson lowered their target price on Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $674.67.

Tyler Technologies 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.