Latitude Advisors LLC Trims Stake in Tyler Technologies, Inc. (NYSE:TYL)

Latitude Advisors LLC lowered its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 12.4% in the fourth quarter, Holdings Channel reports. The firm owned 8,610 shares of the technology company’s stock after selling 1,220 shares during the period. Tyler Technologies accounts for 2.8% of Latitude Advisors LLC’s investment portfolio, making the stock its 5th biggest holding. Latitude Advisors LLC’s holdings in Tyler Technologies were worth $4,965,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TYL. Ashton Thomas Securities LLC acquired a new stake in Tyler Technologies during the 3rd quarter valued at $27,000. Quarry LP bought a new position in shares of Tyler Technologies in the third quarter worth $78,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of Tyler Technologies by 18.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the technology company’s stock worth $78,000 after acquiring an additional 21 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Tyler Technologies during the 3rd quarter worth $79,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Tyler Technologies in the third quarter worth about $82,000. 93.30% of the stock is currently owned by institutional investors.

Tyler Technologies Price Performance

NYSE:TYL opened at $612.18 on Tuesday. The company has a 50 day moving average price of $596.22 and a 200-day moving average price of $593.06. Tyler Technologies, Inc. has a 1-year low of $397.80 and a 1-year high of $638.56. The firm has a market cap of $26.20 billion, a price-to-earnings ratio of 111.71, 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.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Truist Financial reaffirmed a “buy” rating and set a $685.00 target price (up from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Barclays raised their target price on Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Oppenheimer boosted their price objective on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Piper Sandler increased their target price on Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, StockNews.com downgraded Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $645.69.

Insider Activity

In other news, CFO Brian K. Miller sold 2,500 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 12,198 shares in the company, valued at $7,709,257.98. The trade was a 17.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John S. Marr, Jr. sold 12,000 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $613.66, for a total value of $7,363,920.00. Following the completion of the sale, the insider now directly owns 6,983 shares of the company’s stock, valued at approximately $4,285,187.78. This trade represents a 63.21 % decrease in their position. The disclosure for this sale can be found here. In 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 insiders.

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.