Allspring Global Investments Holdings LLC Lowers Stake in Tyler Technologies, Inc. (NYSE:TYL)

Allspring Global Investments Holdings LLC trimmed its holdings in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 12.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 211,401 shares of the technology company's stock after selling 30,102 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.50% of Tyler Technologies worth $88,391,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank purchased a new stake in shares of Tyler Technologies in the fourth quarter worth about $164,642,000. Alliancebernstein L.P. lifted its stake in Tyler Technologies by 26.3% in the 4th quarter. Alliancebernstein L.P. now owns 1,719,257 shares of the technology company's stock worth $554,306,000 after purchasing an additional 357,779 shares in the last quarter. Morgan Stanley lifted its stake in Tyler Technologies by 21.1% in the 3rd quarter. Morgan Stanley now owns 1,015,713 shares of the technology company's stock worth $392,208,000 after purchasing an additional 177,242 shares in the last quarter. Select Equity Group L.P. boosted its holdings in Tyler Technologies by 101.0% in the 1st quarter. Select Equity Group L.P. now owns 327,305 shares of the technology company's stock valued at $116,075,000 after purchasing an additional 164,478 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Tyler Technologies by 122.1% during the 1st quarter. JPMorgan Chase & Co. now owns 213,701 shares of the technology company's stock valued at $75,788,000 after purchasing an additional 117,500 shares in the last quarter. Institutional investors own 93.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TYL shares. JPMorgan Chase & Co. increased their price objective on Tyler Technologies from $500.00 to $526.00 and gave the stock an "overweight" rating in a research report on Thursday, February 15th. Piper Sandler raised their price target on Tyler Technologies from $480.00 to $520.00 and gave the company an "overweight" rating in a report on Friday, February 16th. JMP Securities reissued a "market outperform" rating and set a $490.00 price objective on shares of Tyler Technologies in a report on Friday, February 16th. DA Davidson upped their price objective on shares of Tyler Technologies from $412.00 to $434.00 and gave the stock a "neutral" rating in a research report on Thursday, February 22nd. Finally, Needham & Company LLC lifted their target price on shares of Tyler Technologies from $475.00 to $500.00 and gave the company a "buy" rating in a research report on Thursday, February 15th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $457.86.

Insider Activity

In related news, CEO H Lynn Moore, Jr. sold 10,000 shares of Tyler Technologies stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $435.98, for a total value of $4,359,800.00. Following the transaction, the chief executive officer now directly owns 75,000 shares of the company's stock, valued at $32,698,500. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 7,500 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $435.19, for a total value of $3,263,925.00. Following the completion of the sale, the chief executive officer now owns 75,000 shares in the company, valued at approximately $32,639,250. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO H Lynn Moore, Jr. sold 10,000 shares of Tyler Technologies stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $435.98, for a total value of $4,359,800.00. Following the completion of the sale, the chief executive officer now owns 75,000 shares in the company, valued at $32,698,500. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,608 shares of company stock valued at $21,974,819. 1.50% of the stock is currently owned by company insiders.

Tyler Technologies Trading Down 2.7 %

NYSE:TYL traded down $11.35 during trading hours on Wednesday, reaching $411.85. The company's stock had a trading volume of 306,695 shares, compared to its average volume of 203,810. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market capitalization of $17.48 billion, a price-to-earnings ratio of 105.87, a PEG ratio of 4.12 and a beta of 0.81. The firm has a 50-day simple moving average of $427.34 and a 200-day simple moving average of $412.87. Tyler Technologies, Inc. has a 1 year low of $349.89 and a 1 year high of $454.74.

Tyler Technologies (NYSE:TYL - Get Free Report) last released its quarterly earnings data on Wednesday, February 14th. The technology company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.33 by $0.06. The firm had revenue of $480.94 million for the quarter, compared to the consensus estimate of $483.34 million. Tyler Technologies had a return on equity of 8.85% and a net margin of 8.50%. Research analysts expect that Tyler Technologies, Inc. will post 6.77 EPS for the current fiscal year.

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.