Teacher Retirement System of Texas Cuts Stake in Tyler Technologies, Inc. (NYSE:TYL)

Teacher Retirement System of Texas trimmed its stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 37.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,642 shares of the technology company's stock after selling 17,388 shares during the period. Teacher Retirement System of Texas owned about 0.07% of Tyler Technologies worth $17,234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Retirement Wealth Solutions LLC purchased a new stake in shares of Tyler Technologies in the 1st quarter valued at $26,000. Larson Financial Group LLC boosted its position in Tyler Technologies by 221.4% during the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company's stock worth $26,000 after acquiring an additional 31 shares during the last quarter. Brown Brothers Harriman & Co. grew its stake in Tyler Technologies by 300.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company's stock valued at $32,000 after acquiring an additional 42 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in Tyler Technologies during the 4th quarter valued at about $40,000. Finally, Whipplewood Advisors LLC raised its stake in 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 period. Hedge funds and other institutional investors own 93.30% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of 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. Wall Street Zen cut shares of Tyler Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Robert W. Baird lowered their price target on shares of Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Piper Sandler lowered their price target on shares of Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Finally, DA Davidson lowered their price target on shares of Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating for the company in a report on Friday, April 25th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. 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 Price Performance

Shares of NYSE:TYL traded up $7.39 during trading on Friday, hitting $590.47. 173,785 shares of the company were exchanged, compared to its average volume of 263,779. The stock has a market capitalization of $25.46 billion, a P/E ratio of 88.93, a PEG ratio of 4.61 and a beta of 0.84. Tyler Technologies, Inc. has a 12-month low of $503.54 and a 12-month high of $661.31. The firm's 50 day moving average price is $571.25 and its 200-day moving average price is $580.60.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.22. The business had revenue of $562.43 million during the quarter, compared to the consensus estimate of $556.45 million. Tyler Technologies had a net margin of 13.23% and a return on equity of 10.29%. The company's revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.20 EPS. As a group, equities research analysts anticipate that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Insider Transactions at Tyler Technologies

In related news, insider John S. Marr, Jr. sold 4,000 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $568.66, for a total value of $2,274,640.00. Following the completion of the sale, the insider owned 6,983 shares in the company, valued at $3,970,952.78. This represents a 36.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $573.60, for a total transaction of $215,100.00. Following the transaction, the insider owned 247 shares of the company's stock, valued at approximately $141,679.20. The trade was a 60.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,500 shares of company stock worth $15,177,230 over the last 90 days. Company insiders own 1.10% of the company's stock.

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.