Tyler Technologies, Inc. (NYSE:TYL) Position Trimmed by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 17.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 130,455 shares of the technology company's stock after selling 27,490 shares during the period. New York State Common Retirement Fund owned about 0.30% of Tyler Technologies worth $75,845,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in TYL. Retirement Wealth Solutions LLC bought a new stake in Tyler Technologies during the first quarter worth approximately $26,000. Brown Brothers Harriman & Co. boosted its holdings in Tyler Technologies by 300.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company's stock worth $32,000 after buying an additional 42 shares in the last quarter. Cornerstone Planning Group LLC boosted its holdings in Tyler Technologies by 221.1% during the first quarter. Cornerstone Planning Group LLC now owns 61 shares of the technology company's stock worth $35,000 after buying an additional 42 shares in the last quarter. Kapitalo Investimentos Ltda bought a new stake in Tyler Technologies during the fourth quarter worth approximately $40,000. Finally, Whipplewood Advisors LLC boosted its holdings 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 buying an additional 51 shares in the last quarter. 93.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TYL shares. Barclays decreased their price objective on shares of Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Piper Sandler decreased their price objective on shares of Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Robert W. Baird decreased their price objective on shares of Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Wall Street Zen lowered shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $750.00 price objective on shares of Tyler Technologies in a research note on Tuesday, May 13th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $680.50.

Tyler Technologies Stock Down 1.5%

Shares of NYSE:TYL opened at $551.56 on Monday. The firm has a fifty day moving average of $574.81 and a two-hundred day moving average of $579.64. The firm has a market capitalization of $23.79 billion, a P/E ratio of 83.07, a price-to-earnings-growth ratio of 4.31 and a beta of 0.84. Tyler Technologies, Inc. has a 12-month low of $513.52 and a 12-month high of $661.31.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its 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. The company had revenue of $562.43 million during the quarter, compared to analyst estimates 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 for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the business posted $2.20 EPS. Equities research analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Tyler Technologies

In other news, CFO Brian K. Miller sold 3,333 shares of the firm's 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 owned 11,231 shares in the company, valued at approximately $6,384,374.26. This trade represents a 22.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John S. Marr, Jr. sold 5,000 shares of the firm's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $558.86, for a total transaction of $2,794,300.00. Following the transaction, the insider owned 6,983 shares in the company, valued at $3,902,519.38. This represents a 41.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,500 shares of company stock worth $15,177,230 over the last quarter. 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.

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