Oppenheimer Asset Management Inc. Lowers Stake in Tyler Technologies, Inc. (NYSE:TYL)

Oppenheimer Asset Management Inc. trimmed its stake in Tyler Technologies, Inc. (NYSE:TYL) by 7.1% during the 4th quarter, HoldingsChannel reports. The fund owned 26,003 shares of the technology company’s stock after selling 1,986 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Tyler Technologies were worth $14,994,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in Tyler Technologies in the third quarter worth about $27,000. Sierra Ocean LLC purchased a new position in Tyler Technologies in the 4th quarter worth approximately $32,000. Quarry LP purchased a new position in Tyler Technologies in the 3rd quarter worth approximately $78,000. MassMutual Private Wealth & Trust FSB lifted its position in Tyler Technologies by 18.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the technology company’s stock valued at $78,000 after acquiring an additional 21 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in Tyler Technologies during the 3rd quarter valued at $79,000. 93.30% of the stock is owned by hedge funds and other institutional investors.

Tyler Technologies Stock Performance

Shares of NYSE TYL opened at $605.16 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $26.03 billion, a price-to-earnings ratio of 99.86, a price-to-earnings-growth ratio of 4.93 and a beta of 0.78. Tyler Technologies, Inc. has a 12-month low of $397.80 and a 12-month high of $661.31. The firm has a 50 day moving average of $598.17 and a 200 day moving average of $597.36.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, February 12th. The technology company reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. On average, research analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were 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 in the company, valued at $4,424,079.65. The trade was a 46.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian K. Miller sold 6,752 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $613.75, for a total value of $4,144,040.00. Following the transaction, the chief financial officer now directly owns 11,918 shares of the company’s stock, valued at approximately $7,314,672.50. The trade was a 36.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,252 shares of company stock valued at $9,525,365 over the last 90 days. Company insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Barclays boosted their price target on Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Wells Fargo & Company reissued an “equal weight” rating and issued a $615.00 target price (down previously from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. DA Davidson reaffirmed a “neutral” rating and set a $575.00 price target on shares of Tyler Technologies in a report on Thursday, January 30th. 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. Finally, Piper Sandler increased their price objective on shares of Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Tyler Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $676.25.

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.