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Sequoia Financial Advisors LLC reduces share position in Tyler Technologies, Inc. (NYSE:TYL)


Sequoia Financial Advisors LLC reduced its holdings in Tyler Technologies, Inc. (NYSE:TYL – Free Report) by 14.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 813 shares of the technology company after selling 136 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Tyler Technologies were worth $346,000 at the end of the last quarter.

Other institutional investors have also recently changed their hold on the company. Lido Advisors LLC acquired a new stake in Tyler Technologies in the 3rd quarter valued at about $476,000. Royal London Asset Management Ltd. increased its stake in Tyler Technologies by 0.9% in the 3rd quarter. Royal London Asset Management Ltd. now owns 15,520 shares of the technology company’s stock valued at $5,994,000 after acquiring an additional 144 shares during the period. Townsquare Capital LLC increased its stake in Tyler Technologies by 3.6% in the 3rd quarter. Townsquare Capital LLC now owns 4,258 shares of the technology company’s stock valued at $1,644,000 after acquiring an additional 147 shares during the period. Morgan Stanley increased its stake in Tyler Technologies by 21.1% in the 3rd quarter. Morgan Stanley now owns 1,015,713 shares of the technology company’s stock valued at $392,208,000 after acquiring an additional 177,242 shares during the same period. Finally, Carlson Capital Management bought a new stake in Tyler Technologies in the 3rd quarter valued at about $209,000. 93.30% of the shares are currently owned by hedge funds and other institutional investors.

Insider buying and selling at Tyler Technologies

In other Tyler Technologies news, Director Brenda A. Cline sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 29. The shares were sold at an average price of $458.83, for a total transaction of $2,294,150.00. Following the completion of the sale, the director now owns 1,358 shares of the company’s stock, valued at approximately $623,091.14. The sale was disclosed in a filing with the Securities & Exchange Commission, available at this link. In other news, CEO H Lynn Moore, Jr. sold 5,250 shares of the company’s stock in a transaction that occurred on Tuesday, May 7. The shares were sold at an average price of $481.83, for a total value of $2,529,607.50. Following the completion of the sale, the CEO now directly owns 75,000 shares of the company’s stock, valued at approximately $36,137,250. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. Also, Director Brenda A. Cline sold 5,000 shares of the company’s stock in a transaction dated Monday, April 29. The shares were sold at an average price of $458.83, for a total transaction of $2,294,150.00. Following the completion of the sale, the director now directly owns 1,358 shares of the company’s stock, valued at $623,091.14. The disclosure regarding this sale can be found here. Insiders sold 26,241 shares of the company’s stock during the last quarter, valued at $12,495,890. Company insiders own 1.50% of the company’s stock.

Price development of Tyler Technologies

TYL stock opened at $511.48 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick capital ratio of 0.94 and a current ratio of 0.94. Tyler Technologies, Inc. has a 52-week low of $361.16 and a 52-week high of $519.44. The company’s 50-day moving average is $484.94 and its 200-day moving average is $445.85. The company has a market cap of $21.72 billion, a P/E ratio of 115.72, a PEG ratio of 4.82 and a beta of 0.76.

Tyler Technologies (NYSE:TYL – Get Free Report) last released its earnings results on Wednesday, April 24. The technology company reported earnings per share of $1.74 for the quarter, beating the consensus estimate of $1.48 by $0.26. The company had revenue of $512.36 million for the quarter, compared to analyst estimates of $507.79 million. Tyler Technologies had a net margin of 9.50% and a return on equity of 9.35%. Research analysts forecast that Tyler Technologies, Inc. will report earnings per share of 7.1 for the current year.

Changes in analyst ratings

Several research firms have recently commented on TYL. Piper Sandler reiterated an “overweight” rating and set a $520.00 price target on shares of Tyler Technologies in a report on Wednesday, April 24. Loop Capital increased their price target on shares of Tyler Technologies from $485.00 to $530.00 and gave the stock a “buy” rating in a report on Tuesday, May 21. Needham & Company LLC increased their price target on shares of Tyler Technologies from $500.00 to $600.00 and gave the stock a “buy” rating in a report on Tuesday, May 21. Robert W. Baird increased their price target on shares of Tyler Technologies from $500.00 to $525.00 and gave the stock an “outperform” rating in a report on Friday, April 26. Finally, Truist Financial reiterated a buy rating and issued a $560.00 price target (up from $510.00) on Tyler Technologies shares in a report on Thursday, May 23. Three equities analysts have rated the stock with a hold rating and nine have given a buy rating. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $519.09.

Check out our latest report on TYL

Profile of Tyler Technologies

(Free report)

Tyler Technologies, Inc. provides integrated information management solutions and services to the public sector. The company operates in two segments: Enterprise Software and Platform Technologies. The company provides platform and transformative technology solutions, including cybersecurity for government agencies, data and information solutions, digital solutions that help workers and policymakers share, communicate and use data, payment solutions such as invoicing, presentment, merchant onboarding, collections, reconciliation and disbursements, platform technologies, an application development platform that enables government employees to build solutions and applications, and outdoor recreation solutions, including campground reservations, activity registrations, license sales and renewals, and real-time data for conservation and park management.

Selected items

Institutional ownership by quarter for Tyler Technologies (NYSE:TYL)



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