Chicago Capital LLC Cuts Stake in Tyler Technologies, Inc. (NYSE:TYL)

Chicago Capital LLC lessened its holdings in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 2.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,481 shares of the technology company's stock after selling 841 shares during the quarter. Chicago Capital LLC owned about 0.08% of Tyler Technologies worth $20,628,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Tyler Technologies by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 5,310,401 shares of the technology company's stock valued at $3,062,190,000 after buying an additional 62,420 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Tyler Technologies by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 1,136,734 shares of the technology company's stock worth $654,406,000 after acquiring an additional 27,826 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Tyler Technologies by 7.9% during the fourth quarter. Franklin Resources Inc. now owns 984,615 shares of the technology company's stock valued at $567,768,000 after acquiring an additional 71,869 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Tyler Technologies by 3.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 939,373 shares of the technology company's stock worth $541,680,000 after purchasing an additional 35,198 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Tyler Technologies in the 4th quarter worth about $528,465,000. Institutional investors own 93.30% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on TYL. Cantor Fitzgerald assumed coverage on shares of Tyler Technologies in a research note on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 price objective for the company. Robert W. Baird reduced their price target on shares of Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. The Goldman Sachs Group boosted 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. Piper Sandler cut their target price on Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Finally, Barclays decreased 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. Five equities research 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 target price of $680.50.

Tyler Technologies Stock Performance

NYSE TYL traded down $7.82 during trading hours on Tuesday, hitting $581.32. 246,718 shares of the company's stock traded hands, compared to its average volume of 264,446. Tyler Technologies, Inc. has a 52 week low of $458.50 and a 52 week high of $661.31. The firm has a market capitalization of $25.07 billion, a P/E ratio of 95.93, a P/E/G ratio of 4.93 and a beta of 0.84. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The business's fifty day moving average price is $565.56 and its two-hundred day moving average price is $583.99.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $2.78 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $556.45 million. During the same period last year, the firm earned $2.20 EPS. Tyler Technologies's revenue for the quarter was up 10.3% compared to the same quarter last year. Equities research analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Insiders Place Their Bets

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 5,250 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $585.18, for a total value of $3,072,195.00. Following the completion of the sale, the chief executive officer now owns 81,775 shares in the company, valued at approximately $47,853,094.50. This represents a 6.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Brian K. Miller sold 1,044 shares of the firm's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $587.20, for a total value of $613,036.80. Following the sale, the chief financial officer now directly owns 14,972 shares in the company, valued at approximately $8,791,558.40. This represents a 6.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,300 shares of company stock worth $14,480,366. Company insiders own 1.10% of the company's stock.

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.