Kornitzer Capital Management Inc. KS Has $10.66 Million Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Kornitzer Capital Management Inc. KS trimmed its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 30.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,489 shares of the technology company’s stock after selling 8,109 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Tyler Technologies were worth $10,661,000 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 purchased a new stake in Tyler Technologies during the third quarter valued at about $27,000. Sierra Ocean LLC acquired a new stake in shares of Tyler Technologies during the fourth quarter valued at approximately $32,000. Quarry LP purchased a new stake in shares of Tyler Technologies in the 3rd quarter valued at approximately $78,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of 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 acquired a new position in Tyler Technologies in the 3rd quarter worth approximately $79,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Analyst Ratings Changes

TYL has been the topic of several recent analyst reports. Barclays boosted their target price on shares of Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Needham & Company LLC reissued a “buy” rating and set a $700.00 price target on shares of Tyler Technologies in a research report on Tuesday, January 21st. The Goldman Sachs Group increased their price objective on Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a research note on Tuesday. DA Davidson reaffirmed a “neutral” rating and set a $575.00 target price on shares of Tyler Technologies in a research note on Thursday, January 30th. Finally, Robert W. Baird upped 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. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Tyler Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $676.25.

Tyler Technologies Price Performance

NYSE TYL opened at $640.13 on Wednesday. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $661.31. The stock’s 50-day moving average is $596.62 and its two-hundred day moving average is $594.99. The firm has a market cap of $27.40 billion, a P/E ratio of 116.81, a price-to-earnings-growth ratio of 4.78 and a beta of 0.78. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. On average, analysts anticipate that Tyler Technologies, Inc. will post 7.36 earnings per share for the current fiscal year.

Insider Activity

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $633.55, for a total transaction of $3,801,300.00. Following the completion of the sale, the insider now directly owns 6,983 shares in the company, valued at $4,424,079.65. This represents a 46.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian K. Miller sold 6,752 shares of Tyler Technologies stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $613.75, for a total value of $4,144,040.00. Following the completion of the transaction, the chief financial officer now owns 11,918 shares in the company, valued at $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 have sold a total of 30,502 shares of company stock valued at $18,941,368 over the last 90 days. 2.20% of the stock is currently owned by company insiders.

Tyler Technologies 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.