Tyler Technologies, Inc. (NYSE:TYL) Stock Holdings Reduced by Riverbridge Partners LLC

Riverbridge Partners LLC reduced its position in Tyler Technologies, Inc. (NYSE:TYL) by 11.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 315,930 shares of the technology company’s stock after selling 39,160 shares during the quarter. Tyler Technologies makes up about 2.5% of Riverbridge Partners LLC’s holdings, making the stock its 7th largest position. Riverbridge Partners LLC’s holdings in Tyler Technologies were worth $182,178,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC raised its position in shares of Tyler Technologies by 19.9% in the fourth quarter. SG Americas Securities LLC now owns 1,460 shares of the technology company’s stock valued at $842,000 after purchasing an additional 242 shares during the period. Nisa Investment Advisors LLC grew its stake in Tyler Technologies by 0.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 18,387 shares of the technology company’s stock valued at $10,603,000 after buying an additional 56 shares in the last quarter. Atomi Financial Group Inc. raised its holdings in Tyler Technologies by 15.4% during the 4th quarter. Atomi Financial Group Inc. now owns 1,896 shares of the technology company’s stock valued at $1,093,000 after acquiring an additional 253 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in shares of Tyler Technologies by 18.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the technology company’s stock worth $78,000 after acquiring an additional 21 shares in the last quarter. Finally, Seilern Investment Management Ltd bought a new position in shares of Tyler Technologies in the fourth quarter worth $105,549,000. 93.30% of the stock is currently owned by institutional investors.

Tyler Technologies Stock Up 0.3 %

Shares of NYSE:TYL opened at $586.43 on Thursday. The firm has a market capitalization of $25.10 billion, a PE ratio of 107.01, a price-to-earnings-growth ratio of 4.54 and a beta of 0.78. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21. Tyler Technologies, Inc. has a 52-week low of $397.80 and a 52-week high of $638.56. The firm has a fifty day moving average of $598.42 and a 200 day moving average of $585.06.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.09. The firm had revenue of $543.34 million during the quarter, compared to analysts’ expectations of $547.34 million. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.66 EPS. As a group, research analysts anticipate that Tyler Technologies, Inc. will post 7.36 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on TYL shares. Wells Fargo & Company reiterated an “equal weight” rating and set a $615.00 price objective (down from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. Robert W. Baird upped their price target on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Needham & Company LLC restated a “buy” rating and issued a $700.00 price objective on shares of Tyler Technologies in a research report on Tuesday. Truist Financial reaffirmed a “buy” rating and set a $685.00 target price (up previously from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Finally, Piper Sandler raised their price target on shares of Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $643.77.

Insider Buying and Selling

In related news, CFO Brian K. Miller sold 6,752 shares of Tyler Technologies stock in a transaction on Friday, December 13th. The shares were sold at an average price of $613.75, for a total value of $4,144,040.00. Following the transaction, the chief financial officer now owns 11,918 shares in the company, valued at $7,314,672.50. This trade represents a 36.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John S. Marr, Jr. sold 12,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the sale, the insider now owns 6,983 shares of the company’s stock, valued at approximately $4,285,187.78. The trade was a 63.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,252 shares of company stock worth $26,096,928 in the last quarter. 2.20% of the stock is owned by insiders.

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.