Westwood Holdings Group Inc. Reduces Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Westwood Holdings Group Inc. lessened its stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 10.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,919 shares of the technology company's stock after selling 961 shares during the period. Westwood Holdings Group Inc.'s holdings in Tyler Technologies were worth $4,566,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TYL. Larson Financial Group LLC grew its holdings in shares of Tyler Technologies by 221.4% in the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company's stock worth $26,000 after acquiring an additional 31 shares during the period. Sierra Ocean LLC bought a new stake in shares of Tyler Technologies during the 4th quarter valued at about $32,000. Brown Brothers Harriman & Co. increased its position in shares of Tyler Technologies by 300.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company's stock valued at $32,000 after purchasing an additional 42 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of Tyler Technologies during the 4th quarter valued at about $40,000. Finally, OFI Invest Asset Management bought a new position in shares of Tyler Technologies in the 4th quarter worth approximately $41,000. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Tyler Technologies

In other news, Director Brenda A. Cline sold 2,500 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $577.41, for a total transaction of $1,443,525.00. Following the sale, the director now directly owns 2,519 shares in the company, valued at approximately $1,454,495.79. This represents a 49.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the completion of the transaction, the chief executive officer now directly owns 75,734 shares of the company's stock, valued at approximately $46,772,561.06. The trade was a 7.92% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,962 shares of company stock valued at $13,702,451. 1.10% of the stock is currently owned by insiders.

Tyler Technologies Price Performance

TYL stock traded down $0.18 during midday trading on Friday, hitting $567.24. The company's stock had a trading volume of 181,225 shares, compared to its average volume of 260,914. The firm has a market capitalization of $24.46 billion, a price-to-earnings ratio of 93.60, a price-to-earnings-growth ratio of 4.93 and a beta of 0.88. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. Tyler Technologies, Inc. has a 12 month low of $458.50 and a 12 month high of $661.31. The company has a 50 day moving average of $561.52 and a two-hundred day moving average of $588.49.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.22. The company had revenue of $562.43 million during the quarter, compared to analysts' expectations of $556.45 million. Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. Tyler Technologies's quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the company posted $2.20 earnings per share. On average, analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. DA Davidson decreased their price target on shares of Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Barclays decreased their target price on Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Truist Financial reiterated a "buy" rating and set a $775.00 target price (up from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Robert W. Baird reduced their price target on Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Finally, Piper Sandler lowered their price objective on Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Tyler Technologies has a consensus rating of "Moderate Buy" and an average target price of $687.82.

Tyler Technologies Company 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.