Reliant Investment Management LLC Trims Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Reliant Investment Management LLC lowered its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,073 shares of the technology company’s stock after selling 131 shares during the period. Tyler Technologies makes up 3.3% of Reliant Investment Management LLC’s portfolio, making the stock its 7th biggest position. Reliant Investment Management LLC’s holdings in Tyler Technologies were worth $7,538,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC lifted its holdings in shares of Tyler Technologies by 252,047.5% during the 3rd quarter. International Assets Investment Management LLC now owns 307,620 shares of the technology company’s stock valued at $179,564,000 after purchasing an additional 307,498 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Tyler Technologies by 148.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock valued at $269,369,000 after purchasing an additional 275,511 shares in the last quarter. Seilern Investment Management Ltd bought a new position in shares of Tyler Technologies during the 4th quarter valued at about $105,549,000. FMR LLC lifted its holdings in shares of Tyler Technologies by 94.1% during the 3rd quarter. FMR LLC now owns 109,319 shares of the technology company’s stock valued at $63,812,000 after purchasing an additional 52,984 shares in the last quarter. Finally, Westwind Capital lifted its holdings in shares of Tyler Technologies by 7,614.0% during the 3rd quarter. Westwind Capital now owns 46,361 shares of the technology company’s stock valued at $27,062,000 after purchasing an additional 45,760 shares in the last quarter. Institutional investors own 93.30% of the company’s stock.

Tyler Technologies Stock Down 1.1 %

NYSE:TYL opened at $569.18 on Tuesday. The firm has a market capitalization of $24.36 billion, a price-to-earnings ratio of 103.87, a price-to-earnings-growth ratio of 4.42 and a beta of 0.78. Tyler Technologies, Inc. has a twelve month low of $397.80 and a twelve month high of $638.56. The stock’s 50 day moving average price is $599.72 and its two-hundred day moving average price is $584.55. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.09. The business had revenue of $543.34 million for the quarter, compared to analyst estimates of $547.34 million. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.66 EPS. Equities research analysts expect that Tyler Technologies, Inc. will post 7.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tyler Technologies news, CFO Brian K. Miller sold 6,752 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $613.75, for a total value of $4,144,040.00. Following the transaction, the chief financial officer now directly owns 11,918 shares of the company’s stock, valued at $7,314,672.50. This represents a 36.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John S. Marr, Jr. sold 6,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $633.55, for a total value of $3,801,300.00. Following the completion of the transaction, the insider now directly owns 6,983 shares in the company, valued at approximately $4,424,079.65. This represents a 46.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,252 shares of company stock valued at $26,096,928. 1.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wells Fargo & Company reiterated an “equal weight” rating and set a $615.00 price objective (down previously from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. Oppenheimer boosted their target price on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Barclays boosted their target price on Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. StockNews.com cut Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Finally, DA Davidson boosted their target price on Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Tyler Technologies has an average rating of “Moderate Buy” and an average price target of $643.77.

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.