Tyler Technologies, Inc. (NYSE:TYL) Stake Lessened by Cibc World Market Inc.

Cibc World Market Inc. lessened its stake in Tyler Technologies, Inc. (NYSE:TYLGet Rating) by 25.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 617 shares of the technology company’s stock after selling 216 shares during the period. Cibc World Market Inc.’s holdings in Tyler Technologies were worth $205,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Eagle Asset Management Inc. increased its stake in shares of Tyler Technologies by 15.3% in the second quarter. Eagle Asset Management Inc. now owns 509,132 shares of the technology company’s stock worth $169,276,000 after buying an additional 67,589 shares during the last quarter. Cerity Partners LLC bought a new stake in shares of Tyler Technologies in the second quarter worth $222,000. Swiss National Bank increased its stake in shares of Tyler Technologies by 1.1% in the second quarter. Swiss National Bank now owns 179,373 shares of the technology company’s stock worth $59,638,000 after buying an additional 1,900 shares during the last quarter. Leelyn Smith LLC bought a new stake in shares of Tyler Technologies in the second quarter worth $218,000. Finally, Summit Trail Advisors LLC acquired a new position in Tyler Technologies in the second quarter worth $803,000. Institutional investors own 89.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on TYL shares. StockNews.com started coverage on shares of Tyler Technologies in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Wells Fargo & Company decreased their price objective on shares of Tyler Technologies from $460.00 to $440.00 and set an “overweight” rating for the company in a report on Friday, October 28th. Wolfe Research lifted their price objective on shares of Tyler Technologies from $400.00 to $460.00 and gave the stock an “outperform” rating in a report on Monday, August 1st. The Goldman Sachs Group started coverage on shares of Tyler Technologies in a report on Thursday, November 10th. They issued a “neutral” rating and a $322.00 price objective for the company. Finally, Needham & Company LLC decreased their price objective on shares of Tyler Technologies from $575.00 to $475.00 and set a “buy” rating for the company in a report on Thursday, July 28th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $446.08.

Insider Activity

In other news, CFO Brian K. Miller sold 2,500 shares of the business’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $321.73, for a total transaction of $804,325.00. Following the completion of the transaction, the chief financial officer now owns 24,150 shares of the company’s stock, valued at $7,769,779.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Tyler Technologies Stock Performance

Shares of TYL opened at $333.04 on Friday. Tyler Technologies, Inc. has a 1 year low of $281.11 and a 1 year high of $544.04. The company has a market cap of $13.87 billion, a price-to-earnings ratio of 75.18 and a beta of 0.84. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a fifty day moving average of $332.23 and a 200-day moving average of $350.92.

Tyler Technologies Company Profile

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Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. The company operates in three segments: Enterprise Software; Appraisal and Tax; and NIC. It 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; and student information and transportation solutions for K-12 schools.

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Institutional Ownership by Quarter for Tyler Technologies (NYSE:TYL)

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