HM Payson & Co. Has $36.25 Million Stake in Tyler Technologies, Inc. (NYSE:TYL)

HM Payson & Co. trimmed its stake in Tyler Technologies, Inc. (NYSE:TYL) by 0.4% during the fourth quarter, Holdings Channel reports. The fund owned 62,862 shares of the technology company’s stock after selling 247 shares during the quarter. HM Payson & Co.’s holdings in Tyler Technologies were worth $36,249,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in TYL. QRG Capital Management Inc. raised its stake in shares of Tyler Technologies by 21.1% in the 3rd quarter. QRG Capital Management Inc. now owns 940 shares of the technology company’s stock valued at $549,000 after acquiring an additional 164 shares in the last quarter. Portside Wealth Group LLC bought a new position in shares of Tyler Technologies in the 3rd quarter valued at approximately $259,000. Assetmark Inc. raised its stake in shares of Tyler Technologies by 9.4% in the 3rd quarter. Assetmark Inc. now owns 9,910 shares of the technology company’s stock valued at $5,785,000 after acquiring an additional 854 shares in the last quarter. Maiden Cove Capital LLC bought a new position in shares of Tyler Technologies in the 3rd quarter valued at approximately $583,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of Tyler Technologies in the 3rd quarter valued at approximately $27,000. 93.30% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Brian K. Miller sold 6,752 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $613.75, for a total value of $4,144,040.00. Following the completion of the sale, the chief financial officer now owns 11,918 shares in the company, valued at approximately $7,314,672.50. This represents a 36.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total value of $4,022,981.26. Following the completion of the sale, the chief executive officer now owns 75,734 shares of the company’s stock, valued at $46,772,561.06. This represents a 7.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,816 shares of company stock valued at $9,118,070 over the last 90 days. 2.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TYL shares. Piper Sandler raised their price objective on Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Truist Financial reaffirmed a “buy” rating and issued a $775.00 price target (up from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $615.00 price target (down from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 price target on shares of Tyler Technologies in a research report on Tuesday, January 21st. Finally, StockNews.com downgraded Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Tyler Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $676.25.

Tyler Technologies Price Performance

Tyler Technologies stock opened at $589.02 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. The firm has a market cap of $25.34 billion, a P/E ratio of 97.20, a P/E/G ratio of 4.93 and a beta of 0.80. The business’s fifty day moving average is $599.89 and its two-hundred day moving average is $598.52. Tyler Technologies, Inc. has a 52 week low of $397.80 and a 52 week high of $661.31.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. Equities research analysts forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal 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.