Toronto Dominion Bank Sells 2,152,852 Shares of Tyler Technologies, Inc. (NYSE:TYL)

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

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Tyler Technologies by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 5,310,401 shares of the technology company's stock worth $3,062,190,000 after purchasing an additional 62,420 shares in the last quarter. Geode Capital Management LLC boosted its stake in Tyler Technologies by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 1,136,734 shares of the technology company's stock worth $654,406,000 after buying an additional 27,826 shares in the last quarter. Franklin Resources Inc. boosted its stake in Tyler Technologies by 7.9% in the fourth quarter. Franklin Resources Inc. now owns 984,615 shares of the technology company's stock worth $567,768,000 after buying an additional 71,869 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Tyler Technologies by 3.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 939,373 shares of the technology company's stock worth $541,680,000 after buying an additional 35,198 shares in the last quarter. Finally, Norges Bank purchased a new stake in Tyler Technologies in the fourth quarter worth approximately $528,465,000. Hedge funds and other institutional investors own 93.30% of the company's stock.

Insiders Place Their Bets

In other Tyler Technologies news, 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 value of $3,714,000.00. Following the completion of the transaction, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brian K. Miller sold 3,333 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $568.46, for a total value of $1,894,677.18. Following the completion of the transaction, the chief financial officer now owns 11,231 shares of the company's stock, valued at approximately $6,384,374.26. This trade represents a 22.89% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,781 shares of company stock worth $13,848,787. 1.10% of the stock is owned by corporate insiders.

Tyler Technologies Trading Down 2.3%

Shares of Tyler Technologies stock traded down $13.30 during midday trading on Monday, reaching $563.69. 223,893 shares of the company's stock traded hands, compared to its average volume of 262,133. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. The company has a market cap of $24.31 billion, a PE ratio of 93.02, a price-to-earnings-growth ratio of 4.93 and a beta of 0.88. The stock has a 50 day moving average of $561.14 and a 200-day moving average of $586.41. Tyler Technologies, Inc. has a 12 month low of $458.50 and a 12 month high of $661.31.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted 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. The business had revenue of $562.43 million during the quarter, compared to the consensus estimate of $556.45 million. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The firm's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.20 earnings per share. As a group, equities analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TYL has been the subject of several research reports. Piper Sandler cut their target price on Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Needham & Company LLC reaffirmed a "buy" rating and issued a $750.00 target price on shares of Tyler Technologies in a research note on Tuesday, May 13th. The Goldman Sachs Group upped their target price on Tyler Technologies from $660.00 to $728.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. Wells Fargo & Company dropped their price objective on 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. Finally, Wall Street Zen lowered Tyler Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $687.82.

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.