Tyler Technologies, Inc. (NYSE:TYL) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank reduced its position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 98.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,885 shares of the technology company's stock after selling 2,152,852 shares during the period. Toronto Dominion Bank owned about 0.05% of Tyler Technologies worth $13,197,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Tyler Technologies in the fourth quarter worth about $528,465,000. Van ECK Associates Corp increased its stake in shares of Tyler Technologies by 1,991.8% in the 4th quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company's stock valued at $317,486,000 after purchasing an additional 524,259 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Tyler Technologies in the 4th quarter valued at about $159,947,000. JPMorgan Chase & Co. raised its holdings in Tyler Technologies by 148.2% in 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 during the period. Finally, Wealthfront Advisers LLC boosted its position in Tyler Technologies by 8,973.6% during the fourth quarter. Wealthfront Advisers LLC now owns 154,433 shares of the technology company's stock worth $89,052,000 after purchasing an additional 152,731 shares in the last quarter. 93.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tyler Technologies

In related news, insider John S. Marr, Jr. sold 6,000 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the completion of the sale, the insider now directly owns 6,983 shares in the company, valued at approximately $4,322,477. This trade represents a 46.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the business's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the completion of the transaction, the chief executive officer now owns 75,734 shares in the company, valued at $46,772,561.06. The trade was a 7.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,962 shares of company stock valued at $13,702,451. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TYL has been the subject of a number of recent analyst reports. Needham & Company LLC restated a "buy" rating and issued a $750.00 price objective on shares of Tyler Technologies in a research report on Tuesday, May 13th. Wall Street Zen cut shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. DA Davidson reduced their price objective 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. The Goldman Sachs Group increased their price objective on shares of Tyler Technologies from $660.00 to $728.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Finally, Wells Fargo & Company cut their target price on shares of Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Tyler Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $687.82.

Tyler Technologies Price Performance

Shares of NYSE:TYL traded down $0.18 during midday trading on Monday, hitting $567.24. The company's stock had a trading volume of 181,225 shares, compared to its average volume of 261,592. The company has a market cap of $24.46 billion, a P/E ratio of 93.60, a price-to-earnings-growth ratio of 4.93 and a beta of 0.88. Tyler Technologies, Inc. has a 12-month low of $458.50 and a 12-month high of $661.31. The business's 50 day simple moving average is $561.52 and its 200 day simple moving average is $588.19. 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 (NYSE:TYL - Get Free Report) last released 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. The company 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 12.30% and a return on equity of 10.15%. Tyler Technologies's quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.20 EPS. On average, analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

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.