C WorldWide Group Holding A S Reduces Stake in Tyler Technologies, Inc.

C WorldWide Group Holding A S has made significant adjustments to its investment in Tyler Technologies, Inc. (NYSE:TYL). In its latest filing with the Securities and Exchange Commission (SEC), it was revealed that the institutional investor cut its holdings by 75.8% during the fourth quarter. After selling 75,154 shares, C WorldWide Group now holds 23,982 shares of Tyler Technologies' stock. This represents approximately 0.06% of the company, valued at around $13,829,000 as per the most recent report.

Other hedge funds have also been active regarding their positions in Tyler Technologies. For example, Oak Thistle LLC increased its stake by a remarkable 213.7% during the same quarter, now owning 2,328 shares valued at $1,342,000 after acquiring an additional 1,586 shares. Similarly, Aigen Investment Management LP and Maiden Cove Capital LLC both established new positions in Tyler Technologies, valued at about $1,309,000 and $583,000, respectively, during the third quarter. Additionally, Assetmark Inc. raised its stake by 9.4%, owning 9,910 shares valued at approximately $5,785,000 after purchasing another 854 shares. Meanwhile, B. Metzler seel. Sohn & Co. Holding AG also entered a new investment in the firm during the third quarter worth about $569,000. It is noteworthy that institutional investors and hedge funds collectively own 93.30% of Tyler Technologies' stock.

Recent Analyst Ratings

Research analysts have recently updated their outlook on Tyler Technologies shares. On January 7th, Wells Fargo & Company reaffirmed an "equal weight" rating, adjusting its price target from $670.00 to $615.00. Conversely, Piper Sandler raised its target from $701.00 to $747.00, giving the company an "overweight" rating. In a notable upgrade, StockNews.com changed its rating from "hold" to "buy." Furthermore, The Goldman Sachs Group increased their price target for the company from $660.00 to $728.00, establishing a "buy" rating. Truist Financial also revised its outlook, maintaining a "buy" rating and increasing the price target from $685.00 to $775.00. Overall, based on MarketBeat data, Tyler Technologies has received three hold ratings and eleven buy ratings, resulting in a consensus rating of "Moderate Buy" and an average target price of $676.25.

Current Stock Performance

As of Monday, Tyler Technologies shares opened at $614.89. Over the last 52 weeks, the stock has experienced a low of $397.80 and a high of $661.31. The financial metrics reveal a quick ratio of 1.21, a current ratio of 1.35, and a debt-to-equity ratio of 0.18. With a market capitalization of $26.45 billion, Tyler Technologies also has a price-to-earnings ratio of 101.47 and a PEG ratio of 4.93. The stock's 50-day and 200-day moving averages stand at $597.53 and $596.70, respectively.

In terms of earnings, Tyler Technologies announced its financial results on February 12th, reporting an earnings per share (EPS) of $1.87 for the quarter, which fell short of analysts' expectations of $2.44 by $0.57. The company's return on equity is 10.15%, accompanied by a net margin of 12.30%. Analysts are forecasting that Tyler Technologies, Inc. is expected to post an EPS of 8.52 for the current fiscal year.

Insider Transactions

Recent insider trading activity has shown some significant movements as well. CEO H Lynn Moore, Jr. sold 3,250 shares on November 27th, receiving an average price of $631.41, totaling $2,052,082.50. After this sale, he holds 75,000 shares, which are now valued at about $47,355,750, indicating a 4.15% decrease in his ownership. Additionally, CFO Brian K. Miller sold 6,752 shares on December 13th, with an average price of $613.75, leading to total proceeds of $4,144,040. Following this transaction, his remaining 11,918 shares are valued at $7,314,672.50, reflecting a 36.16% decrease in his stake. Over the last three months, the insiders have traded a total of 18,502 shares worth $11,577,448, representing about 2.20% of the company's stock now held by corporate insiders.

Overview of Tyler Technologies

Tyler Technologies, Inc. specializes in offering integrated information management solutions and services primarily for the public sector. The company operates through two main segments: Enterprise Software and Platform Technologies. Their range of offerings includes technology solutions focused on cybersecurity for governmental organizations, data and insights, digital solutions aimed at enhancing communication among workers and policymakers, payment processing solutions, and application development platforms for government use. Furthermore, Tyler Technologies provides outdoor recreation solutions that encompass campsite reservations, activity registrations, licensing transactions, and data management for conservation.

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