Wasatch Advisors LP Has $1.22 Million Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Wasatch Advisors LP cut its stake in Tyler Technologies, Inc. (NYSE:TYL) by 24.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,092 shares of the technology company’s stock after selling 669 shares during the quarter. Wasatch Advisors LP’s holdings in Tyler Technologies were worth $1,221,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of TYL. Swedbank AB acquired a new position in Tyler Technologies during the second quarter worth $251,390,000. International Assets Investment Management LLC increased its position in Tyler Technologies by 252,047.5% during the third quarter. International Assets Investment Management LLC now owns 307,620 shares of the technology company’s stock worth $179,564,000 after buying an additional 307,498 shares during the last quarter. FMR LLC increased its position in Tyler Technologies by 94.1% during the third quarter. FMR LLC now owns 109,319 shares of the technology company’s stock worth $63,812,000 after buying an additional 52,984 shares during the last quarter. Westwind Capital increased its position in Tyler Technologies by 7,614.0% during the third quarter. Westwind Capital now owns 46,361 shares of the technology company’s stock worth $27,062,000 after buying an additional 45,760 shares during the last quarter. Finally, LMR Partners LLP acquired a new position in Tyler Technologies during the third quarter worth $23,383,000. 93.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tyler Technologies

In related news, CFO Brian K. Miller sold 2,500 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $624.41, for a total value of $1,561,025.00. Following the completion of the transaction, the chief financial officer now owns 11,950 shares of the company’s stock, valued at $7,461,699.50. This represents a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John S. Marr, Jr. sold 12,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the completion of the transaction, the insider now directly owns 6,983 shares of the company’s stock, valued at $4,285,187.78. This trade represents a 63.21 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,100 shares of company stock worth $22,309,090. Company insiders own 2.20% of the company’s stock.

Tyler Technologies Stock Down 0.2 %

NYSE TYL opened at $629.17 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a 50-day simple moving average of $600.16 and a 200 day simple moving average of $557.28. Tyler Technologies, Inc. has a twelve month low of $397.80 and a twelve month high of $637.53. The stock has a market cap of $26.93 billion, a PE ratio of 114.81, a PEG ratio of 5.70 and a beta of 0.77.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.09. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The business had revenue of $543.34 million during the quarter, compared to analysts’ expectations of $547.34 million. During the same quarter last year, the company earned $1.66 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. On average, research analysts forecast that Tyler Technologies, Inc. will post 7.36 EPS for the current year.

Analysts Set New Price Targets

Several research firms have commented on TYL. Piper Sandler increased their target price on shares of Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. StockNews.com raised shares of Tyler Technologies from a “hold” rating to a “buy” rating in a research report on Thursday. Needham & Company LLC upped their price target on shares of Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. JMP Securities upped their price target on shares of Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a report on Friday, October 25th. Finally, Robert W. Baird upped their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Tyler Technologies has a consensus rating of “Moderate Buy” and an average price target of $642.62.

Tyler Technologies 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.