Allspring Global Investments Holdings LLC Sells 24,076 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Allspring Global Investments Holdings LLC lowered its position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 16.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 125,486 shares of the technology company's stock after selling 24,076 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.29% of Tyler Technologies worth $73,350,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Larson Financial Group LLC lifted its holdings in Tyler Technologies by 221.4% during the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company's stock valued at $26,000 after purchasing an additional 31 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new position in shares of Tyler Technologies in the first quarter worth $26,000. Brown Brothers Harriman & Co. lifted its holdings in shares of Tyler Technologies by 300.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company's stock worth $32,000 after buying an additional 42 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new position in shares of Tyler Technologies in the fourth quarter worth $40,000. Finally, OFI Invest Asset Management purchased a new position in shares of Tyler Technologies in the fourth quarter worth $41,000. Hedge funds and other institutional investors own 93.30% of the company's stock.

Tyler Technologies Stock Performance

TYL stock traded up $4.30 during mid-day trading on Friday, reaching $581.50. 409,793 shares of the stock traded hands, compared to its average volume of 262,267. Tyler Technologies, Inc. has a one year low of $495.21 and a one year high of $661.31. The stock has a market capitalization of $25.07 billion, a PE ratio of 87.58, a PEG ratio of 4.54 and a beta of 0.84. The business has a 50-day moving average price of $567.18 and a two-hundred day moving average price of $581.32.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.22. Tyler Technologies had a net margin of 13.23% and a return on equity of 10.29%. The business had revenue of $562.43 million for 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 business's revenue for the quarter was up 10.3% on a year-over-year basis. On average, equities analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TYL. Barclays lowered their target price on shares of Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Cantor Fitzgerald began coverage on shares of Tyler Technologies in a report on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 target price on the stock. Needham & Company LLC reissued a "buy" rating and issued a $750.00 target price on shares of Tyler Technologies in a report on Tuesday, May 13th. Piper Sandler lowered their target price on shares of Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Finally, Wall Street Zen downgraded shares of Tyler Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $680.50.

Insider Activity

In other news, Director Daniel M. Pope sold 365 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $550.00, for a total value of $200,750.00. Following the sale, the director now owns 2,853 shares of the company's stock, valued at approximately $1,569,150. This represents a 11.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $573.60, for a total transaction of $215,100.00. Following the completion of the transaction, the insider now owns 247 shares in the company, valued at approximately $141,679.20. The trade was a 60.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,500 shares of company stock valued at $15,177,230. 1.10% of the stock is currently owned by company insiders.

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.