Redmond Asset Management LLC Sells 54 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Redmond Asset Management LLC cut its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 1.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,889 shares of the technology company’s stock after selling 54 shares during the quarter. Redmond Asset Management LLC’s holdings in Tyler Technologies were worth $2,243,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Van ECK Associates Corp grew its holdings in shares of Tyler Technologies by 1,991.8% during the fourth quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock valued at $317,486,000 after buying an additional 524,259 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Tyler Technologies by 252,047.5% during the third quarter. International Assets Investment Management LLC now owns 307,620 shares of the technology company’s stock valued at $179,564,000 after purchasing an additional 307,498 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Tyler Technologies by 148.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock valued at $269,369,000 after purchasing an additional 275,511 shares during the period. Seilern Investment Management Ltd bought a new stake in Tyler Technologies in the 4th quarter worth approximately $105,549,000. Finally, Handelsbanken Fonder AB increased its stake in Tyler Technologies by 40.0% during the fourth quarter. Handelsbanken Fonder AB now owns 199,051 shares of the technology company’s stock worth $114,781,000 after acquiring an additional 56,900 shares during the last quarter. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Insider Activity at Tyler Technologies

In other news, CFO Brian K. Miller sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $632.01, for a total transaction of $1,580,025.00. Following the completion of the sale, the chief financial officer now owns 12,198 shares of the company’s stock, valued at approximately $7,709,257.98. This trade represents a 17.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO H Lynn Moore, Jr. sold 3,250 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $631.41, for a total value of $2,052,082.50. Following the completion of the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $47,355,750. This trade represents a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,502 shares of company stock valued at $18,941,368. 2.20% of the stock is currently owned by corporate insiders.

Tyler Technologies Stock Down 2.4 %

Tyler Technologies stock opened at $614.89 on Friday. The company has a 50-day simple moving average of $597.53 and a 200-day simple moving average of $596.32. The firm has a market capitalization of $26.45 billion, a P/E ratio of 101.47, a P/E/G ratio of 4.93 and a beta of 0.78. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. Tyler Technologies, Inc. has a one year low of $397.80 and a one year high of $661.31.

Tyler Technologies (NYSE:TYL) last posted 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 return on equity of 10.15% and a net margin of 12.30%. As a group, equities analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TYL. The Goldman Sachs Group increased their target price on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a report on Tuesday. Needham & Company LLC reissued a “buy” rating and set a $700.00 price objective on shares of Tyler Technologies in a report on Tuesday, January 21st. JMP Securities upped their price target on shares of Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a report on Friday, October 25th. StockNews.com upgraded Tyler Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $615.00 target price (down previously from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $676.25.

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.