2Xideas AG Decreases Stake in Tyler Technologies, Inc. (NYSE:TYL)

2Xideas AG cut its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 25.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,454 shares of the technology company’s stock after selling 3,809 shares during the period. 2Xideas AG’s holdings in Tyler Technologies were worth $6,605,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its position in shares of Tyler Technologies by 221.4% in the 4th quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock valued at $26,000 after purchasing an additional 31 shares during the last quarter. Sierra Ocean LLC acquired a new position in shares of Tyler Technologies during the fourth quarter worth $32,000. Brown Brothers Harriman & Co. increased its holdings in Tyler Technologies by 300.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock valued at $32,000 after buying an additional 42 shares during the last quarter. OFI Invest Asset Management acquired a new stake in Tyler Technologies in the fourth quarter valued at $41,000. Finally, Smithfield Trust Co lifted its holdings in Tyler Technologies by 55.6% during the 4th quarter. Smithfield Trust Co now owns 84 shares of the technology company’s stock worth $48,000 after buying an additional 30 shares during the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

Tyler Technologies Trading Down 5.3 %

NYSE TYL opened at $539.40 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $23.25 billion, a P/E ratio of 89.01, a P/E/G ratio of 4.93 and a beta of 0.84. Tyler Technologies, Inc. has a 52-week low of $397.80 and a 52-week high of $661.31. The firm has a 50-day moving average price of $598.37 and a 200 day moving average price of $597.21.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share (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%. Equities research analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TYL shares. StockNews.com raised Tyler Technologies from a “hold” rating to a “buy” rating in a research report on Thursday. Wells Fargo & Company reissued an “equal weight” rating and set a $615.00 price objective (down previously from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. Piper Sandler upped their target price on shares of Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a report on Friday, February 14th. DA Davidson reissued a “neutral” rating and issued a $575.00 target price on shares of Tyler Technologies in a report on Thursday, January 30th. Finally, Truist Financial restated a “buy” rating and set a $775.00 price target (up previously from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $676.25.

Insiders Place Their Bets

In related news, CEO H Lynn Moore, Jr. sold 6,514 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the sale, the chief executive officer now owns 75,734 shares of the company’s stock, valued at approximately $46,772,561.06. The trade was a 7.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Brian K. Miller sold 1,550 shares of the company’s stock in a transaction dated 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 owns 14,026 shares in the company, valued at $8,606,073.08. The trade was a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,064 shares of company stock worth $8,688,030. Corporate insiders own 2.20% of the company’s stock.

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.