Public Employees Retirement System of Ohio Sells 838 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Public Employees Retirement System of Ohio trimmed its stake in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 5.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,653 shares of the technology company's stock after selling 838 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Tyler Technologies were worth $8,450,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. increased its position in Tyler Technologies by 20.7% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 42,500 shares of the technology company's stock worth $24,507,000 after purchasing an additional 7,300 shares in the last quarter. Kensington Investment Counsel LLC increased its position in Tyler Technologies by 0.8% during the 4th quarter. Kensington Investment Counsel LLC now owns 2,496 shares of the technology company's stock worth $1,439,000 after purchasing an additional 20 shares in the last quarter. Barclays PLC increased its position in Tyler Technologies by 2.5% during the 3rd quarter. Barclays PLC now owns 88,296 shares of the technology company's stock worth $51,543,000 after purchasing an additional 2,169 shares in the last quarter. JPMorgan Chase & Co. increased its position in Tyler Technologies by 148.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company's stock worth $269,369,000 after purchasing an additional 275,511 shares in the last quarter. Finally, Swedbank AB increased its position in Tyler Technologies by 1.7% during the 4th quarter. Swedbank AB now owns 459,850 shares of the technology company's stock worth $265,168,000 after purchasing an additional 7,838 shares in the last quarter. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TYL has been the subject of a number of research analyst reports. Truist Financial reiterated a "buy" rating and set a $775.00 price objective (up from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. DA Davidson decreased their price target on shares of Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Wells Fargo & Company decreased their price target on shares of 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. Wall Street Zen cut shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Finally, Robert W. Baird decreased 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. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $687.82.

Insider Activity

In related news, CFO Brian K. Miller sold 3,333 shares of the stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $568.46, for a total transaction of $1,894,677.18. Following the transaction, the chief financial officer now directly owns 11,231 shares of the company's stock, valued at $6,384,374.26. This represents a 22.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the transaction, the insider now directly owns 6,983 shares in the company, valued at approximately $4,322,477. This represents a 46.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,781 shares of company stock valued at $13,848,787. 1.10% of the stock is currently owned by insiders.

Tyler Technologies Trading Up 0.9%

Shares of NYSE:TYL traded up $4.86 during trading on Friday, reaching $576.54. The stock had a trading volume of 457,622 shares, compared to its average volume of 262,287. The firm's fifty day moving average is $561.41 and its 200 day moving average is $586.83. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. Tyler Technologies, Inc. has a 52 week low of $458.50 and a 52 week high of $661.31. The stock has a market cap of $24.86 billion, a price-to-earnings ratio of 95.14, a P/E/G ratio of 4.93 and a beta of 0.88.

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, beating analysts' consensus estimates of $2.56 by $0.22. Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. The company had revenue of $562.43 million for the quarter, compared to analyst estimates of $556.45 million. During the same period in the prior year, the firm posted $2.20 EPS. The company's quarterly revenue was up 10.3% on a year-over-year basis. As a group, equities analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Tyler Technologies 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.