Latitude Advisors LLC Has $4.72 Million Stake in Tyler Technologies, Inc. (NYSE:TYL)

Latitude Advisors LLC decreased its stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 5.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,110 shares of the technology company's stock after selling 500 shares during the period. Tyler Technologies makes up 2.7% of Latitude Advisors LLC's portfolio, making the stock its 5th biggest position. Latitude Advisors LLC's holdings in Tyler Technologies were worth $4,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of TYL. Vanguard Group Inc. lifted its position in shares of Tyler Technologies by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 5,310,401 shares of the technology company's stock worth $3,062,190,000 after purchasing an additional 62,420 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Tyler Technologies by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 1,136,734 shares of the technology company's stock worth $654,406,000 after buying an additional 27,826 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Tyler Technologies by 7.9% during the 4th quarter. Franklin Resources Inc. now owns 984,615 shares of the technology company's stock worth $567,768,000 after buying an additional 71,869 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Tyler Technologies by 3.9% during the fourth 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 bought a new position in Tyler Technologies during the fourth quarter worth $528,465,000. Hedge funds and other institutional investors own 93.30% of the company's stock.

Insider Buying and Selling

In other Tyler Technologies news, CFO Brian K. Miller sold 3,333 shares of Tyler Technologies stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $568.46, for a total value of $1,894,677.18. Following the sale, the chief financial officer owned 11,231 shares of the company's stock, valued at $6,384,374.26. This trade represents a 22.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Brenda A. Cline sold 2,500 shares of Tyler Technologies stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $577.41, for a total value of $1,443,525.00. Following the completion of the sale, the director directly owned 2,519 shares in the company, valued at approximately $1,454,495.79. This represents a 49.81% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,500 shares of company stock worth $15,177,230. Company insiders own 1.10% of the company's stock.

Tyler Technologies Stock Performance

Shares of NYSE:TYL traded up $7.39 on Friday, hitting $590.47. The stock had a trading volume of 173,785 shares, compared to its average volume of 263,436. Tyler Technologies, Inc. has a twelve month low of $503.54 and a twelve month high of $661.31. The firm's 50 day moving average price is $571.25 and its 200-day moving average price is $580.67. The company has a market capitalization of $25.46 billion, a price-to-earnings ratio of 88.93, a price-to-earnings-growth ratio of 4.61 and a beta of 0.84.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its quarterly earnings data 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 10.29% and a net margin of 13.23%. The company had revenue of $562.43 million for the quarter, compared to analyst estimates of $556.45 million. During the same quarter in the previous year, the firm earned $2.20 earnings per share. The business's revenue was up 10.3% on a year-over-year basis. As a group, sell-side analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Robert W. Baird cut their target price on shares of Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Cantor Fitzgerald assumed coverage on Tyler Technologies in a report on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 price target on the stock. Needham & Company LLC reissued a "buy" rating and issued a $750.00 price target on shares of Tyler Technologies in a report on Tuesday, May 13th. DA Davidson cut their target price on Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Finally, Wells Fargo & Company cut their target price on Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $680.50.

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.