Tyler Technologies, Inc. (NYSE:TYL) Position Cut by Baird Financial Group Inc.

Baird Financial Group Inc. cut its holdings in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 25.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 112,679 shares of the technology company's stock after selling 38,623 shares during the quarter. Baird Financial Group Inc. owned about 0.26% of Tyler Technologies worth $64,975,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Oak Thistle LLC raised its position in Tyler Technologies by 213.7% during the fourth quarter. Oak Thistle LLC now owns 2,328 shares of the technology company's stock valued at $1,342,000 after acquiring an additional 1,586 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in Tyler Technologies by 20.7% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 42,500 shares of the technology company's stock valued at $24,507,000 after buying an additional 7,300 shares in the last quarter. Kensington Investment Counsel LLC boosted its stake in shares of Tyler Technologies by 0.8% in the fourth quarter. Kensington Investment Counsel LLC now owns 2,496 shares of the technology company's stock worth $1,439,000 after acquiring an additional 20 shares during the last quarter. Diversified Trust Co purchased a new stake in shares of Tyler Technologies during the fourth quarter worth $596,000. Finally, Fiduciary Alliance LLC purchased a new position in Tyler Technologies in the 4th quarter worth approximately $1,594,000. Hedge funds and other institutional investors own 93.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TYL. Wells Fargo & Company cut their price target on shares of Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Truist Financial reissued a "buy" rating and issued a $775.00 target price (up previously from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. DA Davidson lowered their price target on Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Piper Sandler reduced their price target on shares of Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Finally, Barclays decreased their price target on shares of Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Tyler Technologies presently has an average rating of "Moderate Buy" and an average price target of $674.67.

Tyler Technologies Stock Performance

TYL traded down $2.75 during trading on Friday, hitting $560.06. The stock had a trading volume of 191,735 shares, compared to its average volume of 258,633. The firm has a market capitalization of $24.15 billion, a P/E ratio of 92.42, a PEG ratio of 4.93 and a beta of 0.88. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. Tyler Technologies, Inc. has a twelve month low of $458.50 and a twelve month high of $661.31. The company's 50-day moving average price is $563.43 and its 200 day moving average price is $590.96.

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

Insiders Place Their Bets

In other news, CEO H Lynn Moore, Jr. sold 6,514 shares of the business's stock in a transaction on 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brian K. Miller sold 1,033 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $557.45, for a total value of $575,845.85. Following the completion of the transaction, the chief financial officer now owns 13,028 shares in the company, valued at approximately $7,262,458.60. This trade represents a 7.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,462 shares of company stock valued at $9,464,626. Corporate 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.