Maryland State Retirement & Pension System Reduces Position in Tyler Technologies, Inc. (NYSE:TYL)

Posted by Defense World Staff on Sep 23rd, 2023

Maryland State Retirement & Pension System lessened its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL – Free Report) by 2.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,177 shares of the technology company’s stock after selling 77 shares during the period. Maryland State Retirement & Pension System’s holdings in Tyler Technologies were worth $1,323,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TYL. Barrett & Company Inc. purchased a new position in shares of Tyler Technologies during the first quarter valued at approximately $25,000. Column Capital Advisors LLC bought a new stake in shares of Tyler Technologies during the first quarter valued at approximately $27,000. Massmutual Trust Co. FSB ADV raised its stake in shares of Tyler Technologies by 105.0% during the first quarter. Massmutual Trust Co. FSB ADV now owns 82 shares of the technology company’s stock valued at $29,000 after acquiring an additional 42 shares in the last quarter. Clear Street Markets LLC raised its stake in shares of Tyler Technologies by 95.2% during the first quarter. Clear Street Markets LLC now owns 82 shares of the technology company’s stock valued at $29,000 after acquiring an additional 40 shares in the last quarter. Finally, Ruedi Wealth Management Inc. bought a new stake in shares of Tyler Technologies during the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TYL. StockNews.com began coverage on shares of Tyler Technologies in a research note on Thursday, August 17th. They set a “hold” rating for the company. Barclays lifted their price target on shares of Tyler Technologies from $400.00 to $425.00 and gave the company an “equal weight” rating in a research note on Friday, July 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $475.00 price target on shares of Tyler Technologies in a research note on Thursday, July 27th. DA Davidson lifted their price target on shares of Tyler Technologies from $395.00 to $412.00 in a research note on Wednesday, July 19th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Tyler Technologies in a research note on Wednesday, June 21st. They set an “overweight” rating and a $472.00 price target for the company. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $440.29.

Check Out Our Latest Analysis on TYL

Tyler Technologies Stock Performance

Shares of TYL stock opened at $388.58 on Friday. The business’s fifty day simple moving average is $389.72 and its 200-day simple moving average is $381.02. The company has a market cap of $16.35 billion, a PE ratio of 100.41 and a beta of 0.81. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30. Tyler Technologies, Inc. has a 12-month low of $281.11 and a 12-month high of $426.83.

Tyler Technologies (NYSE:TYL – Get Free Report) last issued its quarterly earnings results on Wednesday, July 26th. The technology company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.17. The business had revenue of $504.28 million for the quarter, compared to the consensus estimate of $490.65 million. Tyler Technologies had a return on equity of 8.94% and a net margin of 8.64%. Analysts expect that Tyler Technologies, Inc. will post 5.67 earnings per share for the current fiscal year.

Insider Transactions at Tyler Technologies

In other news, Director Dustin R. Womble sold 2,111 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $396.87, for a total transaction of $837,792.57. Following the transaction, the director now directly owns 12,805 shares of the company’s stock, valued at $5,081,920.35. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Dustin R. Womble sold 2,111 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $396.87, for a total transaction of $837,792.57. Following the sale, the director now directly owns 12,805 shares of the company’s stock, valued at $5,081,920.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $396.59, for a total transaction of $1,982,950.00. Following the sale, the chief executive officer now directly owns 80,000 shares in the company, valued at $31,727,200. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,611 shares of company stock valued at $3,010,403. Corporate insiders own 2.20% of the company’s stock.

Tyler Technologies Profile

(Free Report)

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 financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; student information and transportation solutions for K-12 schools; and financial management systems.