Kentucky Retirement Systems Insurance Trust Fund Lowers Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Kentucky Retirement Systems Insurance Trust Fund cut its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 7.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,390 shares of the technology company’s stock after selling 109 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Tyler Technologies were worth $591,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Tyler Technologies by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 5,022,053 shares of the technology company’s stock valued at $2,134,423,000 after acquiring an additional 53,005 shares during the period. Principal Financial Group Inc. increased its position in shares of Tyler Technologies by 3.3% in the first quarter. Principal Financial Group Inc. now owns 1,309,715 shares of the technology company’s stock valued at $556,642,000 after acquiring an additional 41,485 shares during the period. Norges Bank bought a new position in shares of Tyler Technologies during the fourth quarter valued at about $459,691,000. Franklin Resources Inc. boosted its holdings in shares of Tyler Technologies by 6.7% during the fourth quarter. Franklin Resources Inc. now owns 1,040,341 shares of the technology company’s stock worth $434,987,000 after purchasing an additional 64,889 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in shares of Tyler Technologies by 6.3% during the first quarter. Van ECK Associates Corp now owns 922,942 shares of the technology company’s stock worth $392,259,000 after purchasing an additional 54,926 shares during the period. 93.30% of the stock is owned by hedge funds and other institutional investors.

Tyler Technologies Stock Up 4.7 %

Shares of Tyler Technologies stock traded up $26.31 during trading on Friday, hitting $590.65. The company’s stock had a trading volume of 584,307 shares, compared to its average volume of 230,240. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 1.06. The company has a fifty day simple moving average of $499.37 and a two-hundred day simple moving average of $457.35. The company has a market capitalization of $25.08 billion, a PE ratio of 133.63, a P/E/G ratio of 5.54 and a beta of 0.76. Tyler Technologies, Inc. has a 52 week low of $361.16 and a 52 week high of $593.50.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.40 EPS for the quarter, beating the consensus estimate of $2.34 by $0.06. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. The company had revenue of $540.98 million for the quarter, compared to the consensus estimate of $541.01 million. During the same period in the prior year, the firm posted $1.53 EPS. Tyler Technologies’s revenue for the quarter was up 7.3% on a year-over-year basis. Equities research analysts predict that Tyler Technologies, Inc. will post 6.5 earnings per share for the current year.

Insider Activity at Tyler Technologies

In related news, Director Daniel M. Pope sold 520 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $491.18, for a total transaction of $255,413.60. Following the sale, the director now directly owns 3,493 shares of the company’s stock, valued at approximately $1,715,691.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Daniel M. Pope sold 520 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $491.18, for a total value of $255,413.60. Following the completion of the sale, the director now directly owns 3,493 shares in the company, valued at $1,715,691.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brenda A. Cline sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $458.83, for a total transaction of $2,294,150.00. Following the transaction, the director now directly owns 1,358 shares of the company’s stock, valued at $623,091.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,241 shares of company stock valued at $12,495,890. 2.20% of the stock is owned by insiders.

Analyst Ratings Changes

TYL has been the subject of a number of recent analyst reports. The Goldman Sachs Group increased their price objective on Tyler Technologies from $515.00 to $627.00 and gave the stock a “buy” rating in a report on Friday. Barclays boosted their price target on shares of Tyler Technologies from $515.00 to $577.00 and gave the company an “equal weight” rating in a research report on Friday. JMP Securities boosted their price target on shares of Tyler Technologies from $490.00 to $580.00 and gave the company a “market outperform” rating in a research report on Monday, July 22nd. Loop Capital upped their target price on Tyler Technologies from $485.00 to $530.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Finally, BTIG Research raised their target price on Tyler Technologies from $550.00 to $630.00 and gave the company a “buy” rating in a research note on Friday. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $582.31.

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.