Tyler Technologies, Inc. (NYSE:TYL) Shares Sold by Progressive Investment Management Corp

Progressive Investment Management Corp lessened its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,783 shares of the technology company’s stock after selling 511 shares during the quarter. Tyler Technologies comprises approximately 2.8% of Progressive Investment Management Corp’s investment portfolio, making the stock its 13th largest holding. Progressive Investment Management Corp’s holdings in Tyler Technologies were worth $10,831,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Cerity Partners LLC raised its stake in shares of Tyler Technologies by 60.6% during the 3rd quarter. Cerity Partners LLC now owns 3,847 shares of the technology company’s stock valued at $2,246,000 after buying an additional 1,451 shares during the last quarter. Bank of Montreal Can raised its position in Tyler Technologies by 2.6% during the third quarter. Bank of Montreal Can now owns 37,826 shares of the technology company’s stock valued at $21,845,000 after acquiring an additional 959 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Tyler Technologies by 1.2% in the third quarter. The Manufacturers Life Insurance Company now owns 26,212 shares of the technology company’s stock valued at $15,300,000 after acquiring an additional 301 shares during the period. FMR LLC boosted its position in Tyler Technologies by 94.1% in the 3rd quarter. FMR LLC now owns 109,319 shares of the technology company’s stock worth $63,812,000 after purchasing an additional 52,984 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Tyler Technologies during the 3rd quarter worth approximately $2,491,000. 93.30% of the stock is owned by hedge funds and other institutional investors.

Tyler Technologies Trading Up 0.2 %

Shares of TYL stock opened at $579.39 on Friday. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $661.31. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. The stock’s fifty day moving average is $599.76 and its two-hundred day moving average is $597.62. The firm has a market capitalization of $24.98 billion, a P/E ratio of 95.61, a PEG ratio of 4.93 and a beta of 0.80.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. Research analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO H Lynn Moore, Jr. sold 6,514 shares of Tyler Technologies stock in a transaction on Wednesday, February 26th. The stock was 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 owns 75,734 shares in the company, valued at $46,772,561.06. The trade was a 7.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John S. Marr, Jr. sold 6,000 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the transaction, the insider now directly owns 6,983 shares in the company, valued at approximately $4,322,477. The trade was a 46.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,064 shares of company stock worth $8,688,030 over the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TYL has been the subject of several analyst reports. The Goldman Sachs Group boosted their target price on shares of Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Needham & Company LLC reissued a “buy” rating and set a $700.00 target price on shares of Tyler Technologies in a research note on Tuesday, January 21st. Barclays lifted their price target on Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Piper Sandler increased their price target on Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Finally, StockNews.com cut Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $676.25.

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.