Tyler Technologies, Inc. $TYL Shares Sold by Thematics Asset Management

Thematics Asset Management lessened its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 9.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 35,170 shares of the technology company’s stock after selling 3,808 shares during the quarter. Thematics Asset Management’s holdings in Tyler Technologies were worth $18,400,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Root Financial Partners LLC purchased a new stake in Tyler Technologies in the 3rd quarter valued at about $28,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Tyler Technologies during the 2nd quarter worth about $32,000. Advisors Asset Management Inc. purchased a new position in shares of Tyler Technologies during the 1st quarter worth about $38,000. Geneos Wealth Management Inc. boosted its position in shares of Tyler Technologies by 137.9% in the first quarter. Geneos Wealth Management Inc. now owns 69 shares of the technology company’s stock worth $40,000 after acquiring an additional 40 shares during the last quarter. Finally, Quent Capital LLC purchased a new stake in Tyler Technologies in the third quarter valued at approximately $49,000. 93.30% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tyler Technologies

In other news, Director Andrew D. Teed acquired 1,600 shares of the stock in a transaction dated Monday, February 23rd. The shares were acquired at an average cost of $309.91 per share, for a total transaction of $495,856.00. Following the completion of the transaction, the director owned 5,118 shares in the company, valued at approximately $1,586,119.38. This trade represents a 45.48% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Brian K. Miller sold 1,000 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $448.51, for a total value of $448,510.00. Following the completion of the transaction, the chief financial officer owned 17,148 shares of the company’s stock, valued at $7,691,049.48. The trade was a 5.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 6,674 shares of company stock worth $2,540,228. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TYL shares. DA Davidson reiterated a “buy” rating and set a $460.00 price objective on shares of Tyler Technologies in a research note on Tuesday, February 17th. Oppenheimer reduced their target price on shares of Tyler Technologies from $510.00 to $450.00 and set an “outperform” rating on the stock in a report on Friday, February 13th. Robert W. Baird set a $440.00 price target on shares of Tyler Technologies in a research report on Friday, February 13th. BTIG Research lowered their price target on Tyler Technologies from $560.00 to $470.00 and set a “buy” rating for the company in a report on Monday, February 9th. Finally, Piper Sandler reissued an “overweight” rating and issued a $543.00 price objective (down from $671.00) 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 stock. According to data from MarketBeat.com, Tyler Technologies currently has an average rating of “Moderate Buy” and an average price target of $467.54.

Tyler Technologies Price Performance

NYSE TYL opened at $350.41 on Friday. The company’s fifty day moving average is $378.04 and its two-hundred day moving average is $453.89. Tyler Technologies, Inc. has a 52-week low of $283.71 and a 52-week high of $621.34. The firm has a market capitalization of $15.06 billion, a price-to-earnings ratio of 48.67, a P/E/G ratio of 2.32 and a beta of 0.90.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, February 11th. The technology company reported $2.64 EPS for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.07). Tyler Technologies had a net margin of 13.53% and a return on equity of 10.42%. The company had revenue of $575.18 million for the quarter, compared to analyst estimates of $591.09 million. During the same period in the prior year, the company posted $2.43 EPS. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, sell-side analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

About Tyler Technologies

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.