Catawba River Capital Reduces Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Catawba River Capital lowered its stake in Tyler Technologies, Inc. (NYSE:TYL) by 0.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 16,253 shares of the technology company’s stock after selling 77 shares during the period. Tyler Technologies accounts for approximately 5.6% of Catawba River Capital’s holdings, making the stock its 5th biggest position. Catawba River Capital’s holdings in Tyler Technologies were worth $9,372,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Oak Thistle LLC increased its stake in Tyler Technologies by 213.7% in the 4th 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 in the last quarter. Aigen Investment Management LP acquired a new position in shares of Tyler Technologies in the third quarter worth about $1,309,000. Maiden Cove Capital LLC purchased a new position in shares of Tyler Technologies in the third quarter worth approximately $583,000. Assetmark Inc. increased its position in shares of Tyler Technologies by 9.4% in the third quarter. Assetmark Inc. now owns 9,910 shares of the technology company’s stock worth $5,785,000 after acquiring an additional 854 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Tyler Technologies during the third quarter valued at approximately $569,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 2,500 shares of Tyler Technologies stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $632.01, for a total value of $1,580,025.00. Following the completion of the transaction, the chief financial officer now owns 12,198 shares in the company, valued at approximately $7,709,257.98. The trade was a 17.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John S. Marr, Jr. sold 12,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the completion of the transaction, the insider now directly owns 6,983 shares of the company’s stock, valued at approximately $4,285,187.78. This represents a 63.21 % 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 in the last 90 days. 2.20% of the stock is owned by corporate insiders.

Tyler Technologies Price Performance

Shares of TYL stock opened at $612.18 on Tuesday. Tyler Technologies, Inc. has a 12 month low of $397.80 and a 12 month high of $638.56. The company has a market capitalization of $26.20 billion, a P/E ratio of 111.71, a P/E/G ratio of 4.78 and a beta of 0.78. The stock has a 50 day moving average of $596.22 and a two-hundred day moving average of $593.06. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TYL shares. Piper Sandler lifted their price objective on shares of Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. DA Davidson reiterated 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 issued a $700.00 price objective on shares of Tyler Technologies in a research note on Tuesday, January 21st. Truist Financial restated a “buy” rating and set a $685.00 price target (up from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Finally, Robert W. Baird upped their price objective on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $645.69.

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.