Tyler Technologies, Inc. (NYSE:TYL) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC lessened its stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 33.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,336 shares of the technology company's stock after selling 5,712 shares during the period. Fred Alger Management LLC's holdings in Tyler Technologies were worth $6,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oak Thistle LLC boosted its holdings in Tyler Technologies by 213.7% in the fourth quarter. Oak Thistle LLC now owns 2,328 shares of the technology company's stock worth $1,342,000 after acquiring an additional 1,586 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in Tyler Technologies by 20.7% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 42,500 shares of the technology company's stock worth $24,507,000 after acquiring an additional 7,300 shares in the last quarter. Kensington Investment Counsel LLC boosted its holdings in 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 in the last quarter. Diversified Trust Co acquired a new stake in Tyler Technologies in the fourth quarter worth about $596,000. Finally, Fiduciary Alliance LLC acquired a new stake in shares of Tyler Technologies during the fourth quarter worth about $1,594,000. Hedge funds and other institutional investors own 93.30% of the company's stock.

Tyler Technologies Price Performance

Shares of TYL traded up $5.06 during trading hours on Monday, hitting $565.31. 334,201 shares of the stock were exchanged, compared to its average volume of 258,936. 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 12-month low of $458.50 and a 12-month high of $661.31. The company has a market cap of $24.38 billion, a price-to-earnings ratio of 93.29, a price-to-earnings-growth ratio of 4.93 and a beta of 0.88. The stock's 50-day moving average price is $562.22 and its two-hundred day moving average price is $590.53.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.78 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 analysts' expectations of $556.45 million. During the same period in the previous year, the business earned $2.20 earnings per share. The firm's revenue for the quarter was up 10.3% on a year-over-year basis. Research analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on TYL. Barclays decreased their target price on Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating for the company in a report on Friday, April 25th. StockNews.com raised Tyler Technologies from a "hold" rating to a "buy" rating in a report on Saturday. Robert W. Baird decreased their target price on Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Wells Fargo & Company decreased their target price 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. Finally, Truist Financial reissued a "buy" rating and issued a $775.00 price target (up from $685.00) on shares of Tyler Technologies in a report on Friday, February 14th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Tyler Technologies has a consensus rating of "Moderate Buy" and an average price target of $674.67.

Insider Buying and Selling

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,514 shares of the company's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $617.59, for a total value of $4,022,981.26. Following the completion of the sale, the chief executive officer now directly owns 75,734 shares in the company, valued at $46,772,561.06. This represents a 7.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian K. Miller sold 1,550 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $613.58, for a total value of $951,049.00. Following the completion of the sale, the chief financial officer now owns 14,026 shares of the company's stock, valued at approximately $8,606,073.08. The trade was a 9.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,462 shares of company stock worth $9,464,626. 1.10% of the stock is owned by corporate insiders.

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.