Cynosure Group LLC Sells 106 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Cynosure Group LLC decreased its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 12.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 727 shares of the technology company’s stock after selling 106 shares during the quarter. Cynosure Group LLC’s holdings in Tyler Technologies were worth $424,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in Tyler Technologies during the third quarter valued at about $27,000. Independence Bank of Kentucky bought a new position in shares of Tyler Technologies in the 2nd quarter valued at approximately $25,000. Blue Trust Inc. lifted its holdings in Tyler Technologies by 329.4% in the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after purchasing an additional 56 shares during the last quarter. Lynx Investment Advisory acquired a new position in Tyler Technologies during the second quarter valued at approximately $38,000. Finally, International Assets Investment Management LLC bought a new position in shares of Tyler Technologies in the second quarter valued at approximately $61,000. Institutional investors own 93.30% of the company’s stock.

Tyler Technologies Price Performance

NYSE:TYL opened at $630.44 on Thursday. The company has a market capitalization of $26.98 billion, a price-to-earnings ratio of 115.04, a PEG ratio of 5.65 and a beta of 0.77. The company has a 50-day moving average of $597.11 and a 200-day moving average of $554.21. Tyler Technologies, Inc. has a 52 week low of $397.80 and a 52 week high of $637.53. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The company had revenue of $543.34 million for the quarter, compared to the consensus estimate of $547.34 million. During the same period in the previous year, the business earned $1.66 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities research analysts anticipate that Tyler Technologies, Inc. will post 7.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $627.00 price objective on shares of Tyler Technologies in a report on Friday, September 13th. Oppenheimer raised their price target on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. DA Davidson boosted their price objective on Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Robert W. Baird raised their target price on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, Needham & Company LLC upped their price target on Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $642.62.

Insider Buying and Selling at Tyler Technologies

In other news, insider John S. Marr, Jr. sold 12,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the sale, the insider now owns 6,983 shares in the company, valued at approximately $4,285,187.78. This represents a 63.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of Tyler Technologies stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $590.98, for a total value of $2,954,900.00. Following the completion of the transaction, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at $44,323,500. This represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,100 shares of company stock valued at $22,309,090. 1.50% of the stock is currently owned by company insiders.

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.