MetLife Investment Management LLC Sells 262 Shares of Tyler Technologies, Inc. (NYSE:TYL)

MetLife Investment Management LLC decreased its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 2.0% in the third quarter, Holdings Channel reports. The firm owned 12,734 shares of the technology company’s stock after selling 262 shares during the quarter. MetLife Investment Management LLC’s holdings in Tyler Technologies were worth $7,433,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in TYL. Tidal Investments LLC boosted its stake in Tyler Technologies by 64.8% in the 1st quarter. Tidal Investments LLC now owns 2,953 shares of the technology company’s stock valued at $1,253,000 after buying an additional 1,161 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Tyler Technologies by 18.3% during the second quarter. SG Americas Securities LLC now owns 8,117 shares of the technology company’s stock valued at $4,081,000 after acquiring an additional 1,255 shares during the period. Aigen Investment Management LP acquired a new stake in shares of Tyler Technologies in the 3rd quarter valued at $1,309,000. Vaughan Nelson Investment Management L.P. increased its position in shares of Tyler Technologies by 21.5% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 123,253 shares of the technology company’s stock worth $61,969,000 after purchasing an additional 21,818 shares in the last quarter. Finally, Swedbank AB acquired a new stake in shares of Tyler Technologies during the 2nd quarter worth about $251,390,000. 93.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TYL. JMP Securities upped their price objective on shares of Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research note on Friday, October 25th. The Goldman Sachs Group restated a “buy” rating and set a $627.00 price target on shares of Tyler Technologies in a research report on Friday, September 13th. Needham & Company LLC lifted their price objective on Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. StockNews.com upgraded Tyler Technologies from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Robert W. Baird lifted their price target on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $642.62.

Insiders Place Their Bets

In related news, CFO Brian K. Miller sold 3,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $602.72, for a total transaction of $1,808,160.00. Following the completion of the sale, the chief financial officer now directly owns 11,950 shares of the company’s stock, valued at approximately $7,202,504. This represents a 20.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Glenn A. Carter sold 3,350 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $582.57, for a total transaction of $1,951,609.50. Following the sale, the director now owns 2,654 shares in the company, valued at $1,546,140.78. This trade represents a 55.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,100 shares of company stock worth $22,309,090 over the last ninety days. 2.20% of the stock is currently owned by corporate insiders.

Tyler Technologies Stock Performance

Shares of NYSE:TYL opened at $629.17 on Friday. The firm’s 50 day simple moving average is $599.13 and its 200 day simple moving average is $555.27. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $637.53. The company has a market capitalization of $26.93 billion, a price-to-earnings ratio of 114.81, a P/E/G ratio of 5.71 and a beta of 0.77. 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 quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.09. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The company had revenue of $543.34 million for the quarter, compared to analysts’ expectations of $547.34 million. During the same period last year, the firm posted $1.66 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Tyler Technologies, Inc. will post 7.36 earnings per share for the current year.

Tyler Technologies Company 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.