First Citizens Bank & Trust Co. Has $710,000 Position in Tyler Technologies, Inc. (NYSE:TYL)

First Citizens Bank & Trust Co. reduced its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 15.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,231 shares of the technology company’s stock after selling 228 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Tyler Technologies were worth $710,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Oak Thistle LLC raised its holdings in Tyler Technologies by 213.7% during the fourth quarter. Oak Thistle LLC now owns 2,328 shares of the technology company’s stock worth $1,342,000 after acquiring an additional 1,586 shares in the last quarter. Aigen Investment Management LP bought a new stake in Tyler Technologies during the third quarter worth about $1,309,000. Maiden Cove Capital LLC bought a new stake in Tyler Technologies during the third quarter worth about $583,000. Assetmark Inc. raised its stake in Tyler Technologies by 9.4% in the third quarter. Assetmark Inc. now owns 9,910 shares of the technology company’s stock valued at $5,785,000 after buying an additional 854 shares during the period. Finally, MBB Public Markets I LLC bought a new stake in Tyler Technologies in the second quarter valued at approximately $1,564,000. 93.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TYL has been the topic of several research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $700.00 price objective on shares of Tyler Technologies in a research note on Tuesday, January 21st. Oppenheimer upped their price objective on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Piper Sandler upped their price objective on Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. StockNews.com lowered Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Finally, JMP Securities upped their price objective on Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a research note on Friday, October 25th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $643.77.

Insider Buying and Selling

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $633.55, for a total value of $3,801,300.00. Following the sale, the insider now owns 6,983 shares of the company’s stock, valued at approximately $4,424,079.65. This trade represents a 46.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Brian K. Miller sold 3,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $602.72, for a total value of $1,808,160.00. Following the completion of the sale, the chief financial officer now directly owns 11,950 shares in the company, valued at approximately $7,202,504. This represents a 20.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,252 shares of company stock valued at $26,096,928 over the last 90 days. 2.20% of the stock is owned by corporate insiders.

Tyler Technologies Trading Up 2.7 %

Shares of NYSE:TYL opened at $607.96 on Tuesday. The company has a market capitalization of $26.02 billion, a P/E ratio of 110.94, a P/E/G ratio of 4.55 and a beta of 0.78. Tyler Technologies, Inc. has a 1 year low of $397.80 and a 1 year high of $638.56. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. The business’s 50 day simple moving average is $598.04 and its 200 day simple moving average is $587.39.

About Tyler Technologies

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.