Reliant Investment Management LLC Sells 131 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Reliant Investment Management LLC trimmed its position in Tyler Technologies, Inc. (NYSE:TYL) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,073 shares of the technology company’s stock after selling 131 shares during the quarter. Tyler Technologies accounts for 3.3% of Reliant Investment Management LLC’s holdings, making the stock its 7th biggest holding. Reliant Investment Management LLC’s holdings in Tyler Technologies were worth $7,538,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in shares of Tyler Technologies during the 3rd quarter valued at $27,000. Quarry LP bought a new stake in shares of Tyler Technologies during the 3rd quarter valued at $78,000. Tobam bought a new stake in shares of Tyler Technologies during the 3rd quarter valued at $78,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Tyler Technologies by 18.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the technology company’s stock valued at $78,000 after acquiring an additional 21 shares during the period. Finally, Brooklyn Investment Group bought a new stake in shares of Tyler Technologies during the 3rd quarter valued at $79,000. 93.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Brian K. Miller sold 6,752 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $613.75, for a total transaction of $4,144,040.00. Following the completion of the sale, the chief financial officer now owns 11,918 shares of the company’s stock, valued at $7,314,672.50. This trade represents a 36.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $605.82, for a total value of $3,786,375.00. Following the completion of the transaction, the chief executive officer now owns 75,000 shares in the company, valued at approximately $45,436,500. The trade was a 7.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,252 shares of company stock valued at $26,096,928 over the last 90 days. Company insiders own 1.50% of the company’s stock.

Tyler Technologies Price Performance

Tyler Technologies stock opened at $569.18 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $24.36 billion, a PE ratio of 103.87, a P/E/G ratio of 4.42 and a beta of 0.78. Tyler Technologies, Inc. has a 12 month low of $397.80 and a 12 month high of $638.56. The stock has a 50-day moving average price of $599.72 and a two-hundred day moving average price of $584.55.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.09. The company had revenue of $543.34 million during the quarter, compared to analysts’ expectations of $547.34 million. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.66 earnings per share. Analysts expect that Tyler Technologies, Inc. will post 7.36 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. DA Davidson upped their target price on Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Needham & Company LLC upped their price objective on Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. JMP Securities upped their price objective on Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research report on Friday, October 25th. Piper Sandler upped their price objective on Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $615.00 price objective (down from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $643.77.

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.