Tyler Technologies, Inc. (NYSE:TYL) Shares Sold by M&T Bank Corp

M&T Bank Corp lowered its position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 14.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,514 shares of the technology company's stock after selling 911 shares during the period. M&T Bank Corp's holdings in Tyler Technologies were worth $3,206,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Brown Advisory Inc. grew its holdings in shares of Tyler Technologies by 408.9% during the first quarter. Brown Advisory Inc. now owns 15,093 shares of the technology company's stock worth $8,775,000 after buying an additional 12,127 shares during the last quarter. Gibraltar Capital Management Inc. purchased a new position in shares of Tyler Technologies during the first quarter worth about $2,238,000. EULAV Asset Management grew its holdings in shares of Tyler Technologies by 1.4% during the first quarter. EULAV Asset Management now owns 249,083 shares of the technology company's stock worth $144,814,000 after buying an additional 3,399 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of Tyler Technologies by 11.5% during the first quarter. Crossmark Global Holdings Inc. now owns 1,186 shares of the technology company's stock worth $690,000 after buying an additional 122 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Tyler Technologies by 6.9% during the first quarter. Envestnet Asset Management Inc. now owns 162,541 shares of the technology company's stock worth $94,500,000 after buying an additional 10,430 shares during the last quarter. Institutional investors and hedge funds own 93.30% of the company's stock.

Tyler Technologies Price Performance

Shares of TYL stock traded down $8.35 during midday trading on Friday, reaching $551.56. 243,002 shares of the company traded hands, compared to its average volume of 266,275. The firm's 50 day simple moving average is $574.81 and its two-hundred day simple moving average is $579.74. Tyler Technologies, Inc. has a 1-year low of $513.52 and a 1-year high of $661.31. The firm has a market cap of $23.78 billion, a PE ratio of 83.07, a price-to-earnings-growth ratio of 4.31 and a beta of 0.84.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.56 by $0.22. Tyler Technologies had a net margin of 13.23% and a return on equity of 10.29%. 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 firm earned $2.20 EPS. The company's revenue for the quarter was up 10.3% on a year-over-year basis. As a group, research analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Insider Activity at Tyler Technologies

In other news, insider John S. Marr, Jr. sold 4,000 shares of Tyler Technologies stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $568.66, for a total transaction of $2,274,640.00. Following the completion of the sale, the insider directly owned 6,983 shares in the company, valued at approximately $3,970,952.78. This trade represents a 36.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brenda A. Cline sold 2,500 shares of Tyler Technologies stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $577.41, for a total value of $1,443,525.00. Following the transaction, the director owned 2,519 shares of the company's stock, valued at $1,454,495.79. This represents a 49.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,500 shares of company stock worth $15,177,230. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TYL shares. Robert W. Baird lowered their price target on Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Needham & Company LLC reissued a "buy" rating and set a $750.00 price target on shares of Tyler Technologies in a report on Tuesday, May 13th. Cantor Fitzgerald started coverage on Tyler Technologies in a report on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 price target on the stock. Wall Street Zen lowered Tyler Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Finally, DA Davidson lowered their price target 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 investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $680.50.

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.