New York State Teachers Retirement System Cuts Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

New York State Teachers Retirement System lowered its stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 3.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,500 shares of the technology company's stock after selling 1,300 shares during the period. New York State Teachers Retirement System owned 0.08% of Tyler Technologies worth $20,639,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Retirement Wealth Solutions LLC acquired a new stake in shares of Tyler Technologies during the 1st quarter valued at $26,000. Larson Financial Group LLC raised its position in Tyler Technologies by 221.4% in 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 during the last quarter. Brown Brothers Harriman & Co. boosted its stake in shares of Tyler Technologies by 300.0% during the fourth 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 in the last quarter. Kapitalo Investimentos Ltda acquired a new stake in shares of Tyler Technologies during the fourth quarter valued at about $40,000. Finally, Whipplewood Advisors LLC grew its holdings in shares of Tyler Technologies by 255.0% during the first quarter. Whipplewood Advisors LLC now owns 71 shares of the technology company's stock worth $41,000 after purchasing an additional 51 shares during the last quarter. Institutional investors own 93.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on TYL shares. 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 price objective for the company. Piper Sandler decreased their price target on shares of Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Barclays cut their price target 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. Wells Fargo & Company decreased their price objective on Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Finally, 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 report on Friday, April 25th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $680.50.

Tyler Technologies Trading Up 1.3%

NYSE TYL traded up $7.39 on Friday, hitting $590.47. 173,785 shares of the company were exchanged, compared to its average volume of 263,779. The company has a market cap of $25.46 billion, a PE ratio of 88.93, a PEG ratio of 4.61 and a beta of 0.84. The stock has a fifty day moving average of $571.25 and a 200-day moving average of $580.51. Tyler Technologies, Inc. has a 12 month low of $503.54 and a 12 month high of $661.31.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The technology company reported $2.78 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $556.45 million. During the same period last year, the business posted $2.20 EPS. The firm's revenue for the quarter was up 10.3% compared to the same quarter last year. On average, analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, Director Brenda A. Cline sold 2,500 shares of the firm's stock in a transaction 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 transaction, the director directly owned 2,519 shares of the company's stock, valued at approximately $1,454,495.79. This trade represents a 49.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John S. Marr, Jr. sold 5,000 shares of the business's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $558.86, for a total transaction of $2,794,300.00. Following the sale, the insider directly owned 6,983 shares of the company's stock, valued at approximately $3,902,519.38. The trade was a 41.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,500 shares of company stock valued at $15,177,230 over the last ninety days. Company 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.