Tyler Technologies, Inc. $TYL Stake Trimmed by Thematics Asset Management

Thematics Asset Management lessened its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 9.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,170 shares of the technology company’s stock after selling 3,808 shares during the period. Thematics Asset Management owned about 0.08% of Tyler Technologies worth $18,400,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in Tyler Technologies by 72.5% in the third quarter. Wellington Management Group LLP now owns 600,776 shares of the technology company’s stock valued at $314,302,000 after acquiring an additional 252,488 shares during the last quarter. Two Creeks Capital Management LP raised its holdings in shares of Tyler Technologies by 1.0% in the 3rd quarter. Two Creeks Capital Management LP now owns 47,983 shares of the technology company’s stock worth $25,103,000 after purchasing an additional 479 shares during the period. Prudential PLC lifted its stake in Tyler Technologies by 91.6% in the third quarter. Prudential PLC now owns 5,799 shares of the technology company’s stock valued at $3,034,000 after purchasing an additional 2,773 shares during the last quarter. Nicolet Advisory Services LLC grew its holdings in Tyler Technologies by 5.6% during the third quarter. Nicolet Advisory Services LLC now owns 2,120 shares of the technology company’s stock valued at $1,030,000 after purchasing an additional 113 shares during the period. Finally, Plum Street Advisors LLC bought a new position in Tyler Technologies during the third quarter valued at $752,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tyler Technologies

In related news, COO Jeffrey David Puckett sold 5,174 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $369.93, for a total transaction of $1,914,017.82. Following the completion of the transaction, the chief operating officer owned 7,754 shares in the company, valued at $2,868,437.22. This represents a 40.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew D. Teed purchased 1,600 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The stock was bought at an average cost of $309.91 per share, for a total transaction of $495,856.00. Following the completion of the purchase, the director directly owned 5,118 shares in the company, valued at $1,586,119.38. This represents a 45.48% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders sold 6,674 shares of company stock valued at $2,540,228. Insiders own 1.10% of the company’s stock.

Tyler Technologies Price Performance

Shares of TYL stock opened at $350.41 on Friday. The stock’s 50-day moving average is $378.04 and its 200 day moving average is $453.89. Tyler Technologies, Inc. has a 1-year low of $283.71 and a 1-year high of $621.34. The company has a market cap of $15.06 billion, a P/E ratio of 48.67, a PEG ratio of 2.32 and a beta of 0.90.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, February 11th. The technology company reported $2.64 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.07). Tyler Technologies had a net margin of 13.53% and a return on equity of 10.42%. The firm had revenue of $575.18 million for the quarter, compared to analysts’ expectations of $591.09 million. During the same period in the previous year, the company posted $2.43 earnings per share. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, analysts anticipate that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Wall Street Analysts Forecast Growth

TYL has been the topic of several research reports. DA Davidson restated a “buy” rating and issued a $460.00 target price on shares of Tyler Technologies in a research note on Tuesday, February 17th. Wells Fargo & Company cut their price target on Tyler Technologies from $420.00 to $335.00 and set an “equal weight” rating for the company in a research note on Friday, February 13th. Barclays decreased their price objective on Tyler Technologies from $715.00 to $410.00 and set an “overweight” rating for the company in a report on Friday, February 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tyler Technologies in a report on Friday, January 9th. Finally, The Goldman Sachs Group set a $420.00 target price on shares of Tyler Technologies in a research report on Friday, February 13th. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Tyler Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $467.54.

Tyler Technologies Company Profile

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler’s product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.