Blair William & Co. IL Decreases Stake in Tyler Technologies, Inc. (NYSE:TYL)

Blair William & Co. IL cut its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 0.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 460,712 shares of the technology company’s stock after selling 2,900 shares during the period. Blair William & Co. IL owned approximately 1.09% of Tyler Technologies worth $231,637,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its holdings in shares of Tyler Technologies by 119.2% in the first quarter. Commonwealth Equity Services LLC now owns 6,517 shares of the technology company’s stock valued at $2,770,000 after purchasing an additional 3,544 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Tyler Technologies by 39.4% in the 1st quarter. Bessemer Group Inc. now owns 6,840 shares of the technology company’s stock worth $2,906,000 after buying an additional 1,935 shares during the last quarter. Rafferty Asset Management LLC raised its position in shares of Tyler Technologies by 26.8% during the 4th quarter. Rafferty Asset Management LLC now owns 13,972 shares of the technology company’s stock valued at $5,842,000 after buying an additional 2,951 shares in the last quarter. APG Asset Management US Inc. bought a new position in shares of Tyler Technologies in the 4th quarter valued at about $57,493,000. Finally, State Board of Administration of Florida Retirement System grew its position in Tyler Technologies by 7.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 46,724 shares of the technology company’s stock worth $19,858,000 after acquiring an additional 3,198 shares in the last quarter. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Brian K. Miller sold 2,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $567.96, for a total value of $1,135,920.00. Following the completion of the sale, the chief financial officer now owns 11,950 shares in the company, valued at approximately $6,787,122. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Tyler Technologies news, Director Daniel M. Pope sold 275 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $578.26, for a total transaction of $159,021.50. Following the sale, the director now owns 3,218 shares of the company’s stock, valued at approximately $1,860,840.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brian K. Miller sold 2,000 shares of Tyler Technologies stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $567.96, for a total value of $1,135,920.00. Following the completion of the transaction, the chief financial officer now owns 11,950 shares in the company, valued at $6,787,122. The disclosure for this sale can be found here. Insiders have sold a total of 29,375 shares of company stock worth $17,049,739 in the last three months. Corporate insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TYL shares. Barclays upped their price objective on Tyler Technologies from $515.00 to $577.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Truist Financial restated a “buy” rating and set a $600.00 price target (up previously from $560.00) on shares of Tyler Technologies in a report on Friday, July 26th. Oppenheimer lifted their price objective on shares of Tyler Technologies from $550.00 to $625.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Needham & Company LLC reissued a “buy” rating and issued a $600.00 target price on shares of Tyler Technologies in a research note on Thursday, July 25th. Finally, BTIG Research lifted their price target on shares of Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Tyler Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $582.31.

Tyler Technologies Stock Down 1.1 %

Shares of NYSE TYL opened at $579.39 on Wednesday. The stock has a 50 day moving average price of $566.91 and a 200 day moving average price of $495.35. The firm has a market capitalization of $24.72 billion, a price-to-earnings ratio of 131.08, a PEG ratio of 5.39 and a beta of 0.78. Tyler Technologies, Inc. has a 52-week low of $361.16 and a 52-week high of $598.93. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.06 and a current ratio of 1.06.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.06. The business had revenue of $540.98 million for the quarter, compared to the consensus estimate of $541.01 million. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.53 EPS. Sell-side analysts expect that Tyler Technologies, Inc. will post 7.21 earnings per share for the current 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.