CIBC Private Wealth Group LLC Has $6.37 Million Stake in Tyler Technologies, Inc. (NYSE:TYL)

CIBC Private Wealth Group LLC cut its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 4.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,068 shares of the technology company’s stock after selling 557 shares during the period. CIBC Private Wealth Group LLC’s holdings in Tyler Technologies were worth $6,367,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Oak Thistle LLC lifted its holdings in shares of 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 purchasing an additional 1,586 shares during the period. Kensington Investment Counsel LLC grew its position in shares of Tyler Technologies by 0.8% in the 4th quarter. Kensington Investment Counsel LLC now owns 2,496 shares of the technology company’s stock valued at $1,439,000 after buying an additional 20 shares during the last quarter. Diversified Trust Co acquired a new stake in shares of Tyler Technologies in the fourth quarter valued at about $596,000. Fiduciary Alliance LLC bought a new position in shares of Tyler Technologies during the fourth quarter worth about $1,594,000. Finally, Barclays PLC lifted its stake in shares of Tyler Technologies by 2.5% in the third quarter. Barclays PLC now owns 88,296 shares of the technology company’s stock worth $51,543,000 after acquiring an additional 2,169 shares during the period. 93.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. The Goldman Sachs Group increased their target price on shares of Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Needham & Company LLC restated a “buy” rating and set a $700.00 target price on shares of Tyler Technologies in a research report on Tuesday, January 21st. 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. Wells Fargo & Company reissued an “equal weight” rating and issued a $615.00 price target (down from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. Finally, Piper Sandler raised their price objective on shares of Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $676.25.

Insider Transactions at Tyler Technologies

In other news, CFO Brian K. Miller sold 1,550 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $613.58, for a total transaction of $951,049.00. Following the completion of the sale, the chief financial officer now owns 14,026 shares in the company, valued at $8,606,073.08. This trade represents a 9.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $619.00, for a total value of $3,714,000.00. Following the completion of the sale, the insider now directly owns 6,983 shares of the company’s stock, valued at $4,322,477. This represents a 46.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,064 shares of company stock worth $8,688,030 in the last ninety days. Company insiders own 2.20% of the company’s stock.

Tyler Technologies Price Performance

Shares of NYSE TYL opened at $584.30 on Wednesday. The stock has a market cap of $25.19 billion, a price-to-earnings ratio of 96.42, a PEG ratio of 4.93 and a beta of 0.80. 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 fifty-two week low of $397.80 and a fifty-two week high of $661.31. The firm’s 50-day simple moving average is $599.99 and its 200 day simple moving average is $597.72.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share 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, research analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

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.