Bank of America Corp DE Reduces Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Bank of America Corp DE cut its stake in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 6.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 301,638 shares of the technology company's stock after selling 20,478 shares during the period. Bank of America Corp DE owned approximately 0.70% of Tyler Technologies worth $173,936,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Tyler Technologies

In related news, Director Daniel M. Pope sold 365 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $550.00, for a total transaction of $200,750.00. Following the completion of the sale, the director now directly owns 2,853 shares in the company, valued at $1,569,150. This represents a 11.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider John S. Marr, Jr. sold 6,000 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the completion of the sale, the insider now directly owns 6,983 shares in the company, valued at $4,322,477. This represents a 46.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,462 shares of company stock valued at $9,464,626 in the last ninety days. 1.10% of the stock is currently owned by company insiders.

Tyler Technologies Price Performance

NYSE:TYL traded up $5.06 during trading hours on Monday, reaching $565.31. 334,201 shares of the company's stock were exchanged, compared to its average volume of 258,936. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $24.38 billion, a P/E ratio of 93.29, a price-to-earnings-growth ratio of 4.93 and a beta of 0.88. Tyler Technologies, Inc. has a 12 month low of $458.50 and a 12 month high of $661.31. The business's 50-day simple moving average is $562.22 and its two-hundred day simple moving average is $590.53.

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. Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. The company had revenue of $562.43 million during the quarter, compared to the consensus estimate of $556.45 million. During the same period last year, the firm earned $2.20 EPS. The firm's revenue for the quarter was up 10.3% compared to the same quarter last year. Sell-side analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on TYL shares. The Goldman Sachs Group upped their price target on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Barclays lowered their target price on Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Robert W. Baird reduced their target price on Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. DA Davidson lowered their target price 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. Finally, Truist Financial reaffirmed a "buy" rating and issued a $775.00 target price (up from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $674.67.

About Tyler Technologies

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.