Cynosure Group LLC Sells 106 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Cynosure Group LLC lowered its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 12.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 727 shares of the technology company’s stock after selling 106 shares during the quarter. Cynosure Group LLC’s holdings in Tyler Technologies were worth $424,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Tidal Investments LLC lifted its position in Tyler Technologies by 64.8% during the 1st quarter. Tidal Investments LLC now owns 2,953 shares of the technology company’s stock valued at $1,253,000 after purchasing an additional 1,161 shares during the period. SG Americas Securities LLC lifted its holdings in Tyler Technologies by 18.3% in the second quarter. SG Americas Securities LLC now owns 8,117 shares of the technology company’s stock valued at $4,081,000 after buying an additional 1,255 shares during the period. Aigen Investment Management LP acquired a new position in Tyler Technologies in the third quarter valued at approximately $1,309,000. Vaughan Nelson Investment Management L.P. boosted its stake in Tyler Technologies by 21.5% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 123,253 shares of the technology company’s stock valued at $61,969,000 after acquiring an additional 21,818 shares during the last quarter. Finally, Swedbank AB acquired a new stake in Tyler Technologies during the 2nd quarter worth $251,390,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Wall Street Analysts Forecast Growth

TYL has been the topic of a number of analyst reports. The Goldman Sachs Group reissued a “buy” rating and issued a $627.00 price target on shares of Tyler Technologies in a research note on Friday, September 13th. Truist Financial reissued a “buy” rating and issued a $685.00 target price (up previously from $600.00) on shares of Tyler Technologies in a research note on Friday, October 25th. Piper Sandler boosted their target price on Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Needham & Company LLC upped their price target on Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, Robert W. Baird lifted their price objective on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $642.62.

Tyler Technologies Stock Performance

TYL opened at $630.44 on Thursday. The company has a market capitalization of $26.98 billion, a price-to-earnings ratio of 115.04, a P/E/G ratio of 5.65 and a beta of 0.77. The business’s 50-day moving average price is $597.11 and its two-hundred day moving average price is $554.21. Tyler Technologies, Inc. has a 1 year low of $397.80 and a 1 year high of $637.53. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21.

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

Insider Transactions at Tyler Technologies

In related news, CFO Brian K. Miller sold 2,500 shares of Tyler Technologies stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $624.41, for a total value of $1,561,025.00. Following the sale, the chief financial officer now owns 11,950 shares of the company’s stock, valued at approximately $7,461,699.50. The trade was a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John S. Marr, Jr. sold 12,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $613.66, for a total value of $7,363,920.00. Following the transaction, the insider now directly owns 6,983 shares of the company’s stock, valued at $4,285,187.78. This trade represents a 63.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,100 shares of company stock valued at $22,309,090 over the last 90 days. 1.50% 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.