Allspring Global Investments Holdings LLC Trims Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Allspring Global Investments Holdings LLC lessened its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 12.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 211,401 shares of the technology company’s stock after selling 30,102 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.50% of Tyler Technologies worth $88,391,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TYL. Vanguard Group Inc. increased its holdings in Tyler Technologies by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 4,913,419 shares of the technology company’s stock valued at $1,897,268,000 after purchasing an additional 29,578 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Tyler Technologies by 26.3% in the fourth quarter. Alliancebernstein L.P. now owns 1,719,257 shares of the technology company’s stock valued at $554,306,000 after buying an additional 357,779 shares in the last quarter. State Street Corp raised its holdings in shares of Tyler Technologies by 1.8% in the 1st quarter. State Street Corp now owns 1,574,686 shares of the technology company’s stock valued at $558,447,000 after buying an additional 28,331 shares during the period. Principal Financial Group Inc. lifted its stake in Tyler Technologies by 0.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,268,954 shares of the technology company’s stock worth $489,994,000 after acquiring an additional 5,013 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in Tyler Technologies by 21.1% during the 3rd quarter. Morgan Stanley now owns 1,015,713 shares of the technology company’s stock valued at $392,208,000 after acquiring an additional 177,242 shares during the period. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Tyler Technologies Trading Up 1.2 %

NYSE:TYL opened at $423.20 on Wednesday. Tyler Technologies, Inc. has a 1 year low of $345.30 and a 1 year high of $454.74. The stock has a market cap of $17.96 billion, a P/E ratio of 108.79, a P/E/G ratio of 4.12 and a beta of 0.81. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a 50-day simple moving average of $427.56 and a 200-day simple moving average of $412.88.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, February 14th. The technology company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.06. Tyler Technologies had a return on equity of 8.85% and a net margin of 8.50%. The firm had revenue of $480.94 million during the quarter, compared to the consensus estimate of $483.34 million. As a group, analysts anticipate that Tyler Technologies, Inc. will post 6.77 earnings per share for the current fiscal year.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 5,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $442.99, for a total value of $2,214,950.00. Following the completion of the transaction, the chief financial officer now owns 14,610 shares in the company, valued at $6,472,083.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tyler Technologies news, CFO Brian K. Miller sold 5,000 shares of Tyler Technologies stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $442.99, for a total transaction of $2,214,950.00. Following the transaction, the chief financial officer now owns 14,610 shares of the company’s stock, valued at $6,472,083.90. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider John S. Marr, Jr. sold 6,500 shares of Tyler Technologies stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $427.82, for a total transaction of $2,780,830.00. Following the completion of the transaction, the insider now directly owns 6,400 shares in the company, valued at $2,738,048. The disclosure for this sale can be found here. Insiders have sold 50,608 shares of company stock valued at $21,974,819 in the last ninety days. Insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Needham & Company LLC boosted their price target on shares of Tyler Technologies from $475.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Piper Sandler increased their target price on shares of Tyler Technologies from $480.00 to $520.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. JMP Securities restated a “market outperform” rating and issued a $490.00 price target on shares of Tyler Technologies in a research note on Friday, February 16th. DA Davidson increased their price objective on Tyler Technologies from $412.00 to $434.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. Finally, JPMorgan Chase & Co. lifted their target price on Tyler Technologies from $500.00 to $526.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Tyler Technologies has an average rating of “Moderate Buy” and an average target price of $457.86.

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.