Bank of Nova Scotia Sells 1,372 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Bank of Nova Scotia lowered its stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 21.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,928 shares of the technology company's stock after selling 1,372 shares during the quarter. Bank of Nova Scotia's holdings in Tyler Technologies were worth $2,865,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in TYL. Retirement Wealth Solutions LLC bought a new stake in Tyler Technologies during the 1st quarter worth approximately $26,000. Mowery & Schoenfeld Wealth Management LLC boosted its position in shares of Tyler Technologies by 820.0% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company's stock worth $27,000 after purchasing an additional 41 shares during the period. Cornerstone Planning Group LLC increased its stake in shares of Tyler Technologies by 221.1% in the first quarter. Cornerstone Planning Group LLC now owns 61 shares of the technology company's stock worth $35,000 after purchasing an additional 42 shares in the last quarter. Kapitalo Investimentos Ltda bought a new stake in shares of Tyler Technologies during the 4th quarter valued at $40,000. Finally, Whipplewood Advisors LLC lifted its stake in shares of Tyler Technologies by 255.0% during the 1st quarter. Whipplewood Advisors LLC now owns 71 shares of the technology company's stock valued at $41,000 after buying an additional 51 shares in the last quarter. 93.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Tyler Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Robert W. Baird dropped their price objective on Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. 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 report on Friday, April 25th. Needham & Company LLC reissued a "buy" rating and issued a $750.00 price target on shares of Tyler Technologies in a report on Tuesday, May 13th. Finally, Cantor Fitzgerald assumed coverage on Tyler Technologies in a research note on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 price target for the company. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $688.27.

Insider Transactions at Tyler Technologies

In related news, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $573.60, for a total value of $215,100.00. Following the completion of the transaction, the insider owned 247 shares of the company's stock, valued at approximately $141,679.20. This trade represents a 60.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John S. Marr, Jr. sold 4,000 shares of Tyler Technologies stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $568.66, for a total value of $2,274,640.00. Following the completion of the transaction, the insider owned 6,983 shares of the company's stock, valued at approximately $3,970,952.78. This represents a 36.42% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,352 shares of company stock worth $17,449,676. 1.10% of the stock is currently owned by corporate insiders.

Tyler Technologies Stock Performance

Shares of TYL traded down $12.28 during mid-day trading on Thursday, hitting $599.49. 532,735 shares of the stock were exchanged, compared to its average volume of 383,827. The company has a market cap of $25.93 billion, a PE ratio of 85.64, a price-to-earnings-growth ratio of 4.70 and a beta of 0.85. Tyler Technologies, Inc. has a 52-week low of $513.52 and a 52-week high of $661.31. The firm has a 50-day moving average of $576.54 and a two-hundred day moving average of $579.34.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.78 by $0.13. The company had revenue of $584.01 million for the quarter, compared to analysts' expectations of $587.59 million. Tyler Technologies had a net margin of 13.66% and a return on equity of 10.34%. Tyler Technologies's quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.40 earnings per share. On average, sell-side analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

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.