Man Group plc Sells 8,771 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Man Group plc trimmed its position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 30.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 19,790 shares of the technology company's stock after selling 8,771 shares during the period. Man Group plc's holdings in Tyler Technologies were worth $11,412,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC increased its position in shares of Tyler Technologies by 221.4% during the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company's stock valued at $26,000 after acquiring an additional 31 shares during the last quarter. Sierra Ocean LLC purchased a new stake in shares of Tyler Technologies during the fourth quarter valued at approximately $32,000. Brown Brothers Harriman & Co. increased its position in shares of Tyler Technologies by 300.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company's stock valued at $32,000 after acquiring an additional 42 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of Tyler Technologies during the fourth quarter valued at approximately $40,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Tyler Technologies during the fourth quarter valued at approximately $41,000. 93.30% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,514 shares of Tyler Technologies stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the completion of the sale, the chief executive officer now owns 75,734 shares of the company's stock, valued at $46,772,561.06. The trade was a 7.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brenda A. Cline sold 2,500 shares of Tyler Technologies stock in a transaction dated 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 sale, the director now directly owns 2,519 shares of the company's stock, valued at approximately $1,454,495.79. This trade represents a 49.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,962 shares of company stock valued at $13,702,451 over the last 90 days. Insiders own 1.10% of the company's stock.

Tyler Technologies Price Performance

Shares of NYSE TYL traded up $1.23 during midday trading on Friday, hitting $568.65. 83,856 shares of the company's stock were exchanged, compared to its average volume of 275,497. Tyler Technologies, Inc. has a 12-month low of $458.50 and a 12-month high of $661.31. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The company has a market cap of $24.52 billion, a price-to-earnings ratio of 93.84, a PEG ratio of 4.93 and a beta of 0.88. The business's fifty day moving average price is $561.66 and its two-hundred day moving average price is $588.75.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.22. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The firm had revenue of $562.43 million during the quarter, compared to analyst estimates of $556.45 million. During the same quarter in the previous year, the company posted $2.20 earnings per share. The company's revenue was up 10.3% compared to the same quarter last year. As a group, research analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Needham & Company LLC reaffirmed a "buy" rating and set a $750.00 price target on shares of Tyler Technologies in a research report on Tuesday, May 13th. Barclays cut their price target on Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Wall Street Zen lowered Tyler Technologies from a "buy" rating to a "hold" rating in a report on Wednesday. DA Davidson cut their price target on Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating for the company in a report on Friday, April 25th. Finally, Wells Fargo & Company cut their price target on Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Tyler Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $687.82.

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.