Tyler Technologies, Inc. (NYSE:TYL) Stock Position Lowered by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its holdings in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 16.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Integrated Wealth Concepts LLC boosted its holdings in shares of Tyler Technologies by 2.3% in the fourth quarter. Integrated Wealth Concepts LLC now owns 786 shares of the technology company's stock worth $453,000 after buying an additional 18 shares during the last quarter. AdvisorNet Financial Inc raised its holdings in Tyler Technologies by 7.0% during the first quarter. AdvisorNet Financial Inc now owns 291 shares of the technology company's stock valued at $169,000 after acquiring an additional 19 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in Tyler Technologies by 0.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,668 shares of the technology company's stock worth $2,115,000 after purchasing an additional 20 shares in the last quarter. Kensington Investment Counsel LLC grew its stake in Tyler Technologies by 0.8% during the fourth quarter. Kensington Investment Counsel LLC now owns 2,496 shares of the technology company's stock valued at $1,439,000 after acquiring an additional 20 shares in the last quarter. Finally, Benjamin Edwards Inc. grew its position in shares of Tyler Technologies by 1.5% during the fourth quarter. Benjamin Edwards Inc. now owns 1,526 shares of the technology company's stock valued at $880,000 after purchasing an additional 22 shares in the last quarter. 93.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TYL has been the topic of several research reports. DA Davidson reduced their price target on shares of Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Needham & Company LLC reissued a "buy" rating and issued a $750.00 target price on shares of Tyler Technologies in a research note on Tuesday, May 13th. Piper Sandler cut their price target 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. Barclays cut their target price on Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Finally, Cantor Fitzgerald began coverage on Tyler Technologies in a research note on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 price target on the stock. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Tyler Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $680.50.

Tyler Technologies Trading Down 1.1%

Shares of Tyler Technologies stock traded down $6.34 during trading hours on Wednesday, reaching $583.71. 328,306 shares of the company's stock were exchanged, compared to its average volume of 262,904. The firm has a market capitalization of $25.17 billion, a price-to-earnings ratio of 87.91, a price-to-earnings-growth ratio of 4.63 and a beta of 0.85. Tyler Technologies, Inc. has a 52-week low of $501.98 and a 52-week high of $661.31. The company has a fifty day moving average of $568.44 and a 200-day moving average of $580.93.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.78 EPS for the quarter, beating analysts' consensus estimates of $2.56 by $0.22. Tyler Technologies had a return on equity of 10.29% and a net margin of 13.23%. The firm 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 business posted $2.20 earnings per share. Tyler Technologies's revenue for the quarter was up 10.3% on a year-over-year basis. On average, equities research analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Insider Transactions at Tyler Technologies

In related news, CFO Brian K. Miller sold 3,333 shares of the company's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $568.46, for a total transaction of $1,894,677.18. Following the completion of the transaction, the chief financial officer directly owned 11,231 shares in the company, valued at $6,384,374.26. This represents a 22.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brenda A. Cline sold 2,500 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $577.41, for a total value of $1,443,525.00. Following the transaction, the director owned 2,519 shares of the company's stock, valued at approximately $1,454,495.79. This represents a 49.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,500 shares of company stock worth $15,177,230 in the last quarter. 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.