Millennium Management LLC Has $28.57 Million Position in Tyler Technologies, Inc. (NYSE:TYL)

Millennium Management LLC cut its holdings in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 65.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 49,539 shares of the technology company's stock after selling 95,542 shares during the quarter. Millennium Management LLC owned about 0.12% of Tyler Technologies worth $28,566,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Larson Financial Group LLC grew its position in shares of Tyler Technologies by 221.4% in the 4th 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 during the period. Sierra Ocean LLC acquired a new position in shares of Tyler Technologies in the 4th quarter valued at approximately $32,000. Brown Brothers Harriman & Co. grew its position in shares of Tyler Technologies by 300.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company's stock valued at $32,000 after purchasing an additional 42 shares during the period. Kapitalo Investimentos Ltda acquired a new position in shares of Tyler Technologies in the 4th quarter valued at approximately $40,000. Finally, OFI Invest Asset Management acquired a new position in shares of Tyler Technologies in the 4th quarter valued at approximately $41,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity 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 sale, the director now owns 2,853 shares in the company, valued at approximately $1,569,150. This represents a 11.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John S. Marr, Jr. sold 6,000 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $619.00, for a total value of $3,714,000.00. Following the completion of the sale, the insider now owns 6,983 shares in the company, valued at approximately $4,322,477. This trade represents a 46.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,462 shares of company stock worth $12,258,926. Company insiders own 1.10% of the company's stock.

Tyler Technologies Trading Down 0.5%

Shares of Tyler Technologies stock opened at $574.25 on Tuesday. Tyler Technologies, Inc. has a 12-month low of $458.50 and a 12-month high of $661.31. The stock has a market cap of $24.76 billion, a P/E ratio of 94.76, a P/E/G ratio of 4.93 and a beta of 0.88. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. The business's 50 day moving average is $561.32 and its 200-day moving average is $589.23.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 earnings per share (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 quarter in the prior year, the business posted $2.20 EPS. The business's revenue was up 10.3% compared to the same quarter last year. Equities research analysts predict that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TYL shares. Piper Sandler decreased their price objective on Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. StockNews.com raised Tyler Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, May 10th. Truist Financial reaffirmed a "buy" rating and set a $775.00 price target (up previously from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Wells Fargo & Company reduced their price target on Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Finally, Barclays reduced their price target on Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Three investment 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, Tyler Technologies has a consensus rating of "Moderate Buy" and an average target price of $674.67.

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.

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