Envestnet Portfolio Solutions Inc. Sells 976 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Envestnet Portfolio Solutions Inc. decreased its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 18.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,193 shares of the technology company’s stock after selling 976 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Tyler Technologies were worth $2,418,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Oak Thistle LLC boosted its stake in Tyler Technologies by 213.7% during the fourth quarter. Oak Thistle LLC now owns 2,328 shares of the technology company’s stock valued at $1,342,000 after buying an additional 1,586 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Tyler Technologies during the third quarter valued at approximately $569,000. Trustmark National Bank Trust Department bought a new position in Tyler Technologies during the third quarter valued at approximately $1,288,000. Diversified Trust Co bought a new position in Tyler Technologies during the fourth quarter valued at approximately $596,000. Finally, PNC Financial Services Group Inc. boosted its stake in Tyler Technologies by 10.6% during the third quarter. PNC Financial Services Group Inc. now owns 10,369 shares of the technology company’s stock valued at $6,053,000 after buying an additional 993 shares during the last quarter. Institutional investors own 93.30% of the company’s stock.

Tyler Technologies Trading Down 1.7 %

Shares of NYSE TYL opened at $568.19 on Friday. The business’s 50 day moving average price is $598.75 and its 200-day moving average price is $597.96. The company has a market cap of $24.44 billion, a price-to-earnings ratio of 93.76, a PEG ratio of 4.93 and a beta of 0.80. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $661.31. 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 (NYSE:TYL) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 EPS 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%. On average, sell-side analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TYL has been the subject of a number of research reports. Truist Financial reissued a “buy” rating and set a $775.00 price target (up from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. DA Davidson restated a “neutral” rating and set a $575.00 price objective on shares of Tyler Technologies in a research report on Thursday, January 30th. Wells Fargo & Company restated an “equal weight” rating and set a $615.00 price objective (down from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. The Goldman Sachs Group upped their price objective on Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Finally, Barclays upped their price objective on Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $676.25.

Insiders Place Their Bets

In other Tyler Technologies news, CFO Brian K. Miller sold 1,550 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $613.58, for a total transaction of $951,049.00. Following the transaction, the chief financial officer now directly owns 14,026 shares in the company, valued at $8,606,073.08. This trade represents a 9.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John S. Marr, Jr. sold 6,000 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $619.00, for a total value of $3,714,000.00. Following the sale, the insider now directly owns 6,983 shares in the company, valued at $4,322,477. This trade represents a 46.21 % decrease in their position. 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. 2.20% of the stock is owned by company insiders.

Tyler Technologies Company 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.