Hudson Way Capital Management LLC Sells 14,650 Shares of Tyler Technologies, Inc. $TYL

Hudson Way Capital Management LLC cut its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 12.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 101,252 shares of the technology company’s stock after selling 14,650 shares during the period. Tyler Technologies comprises about 4.5% of Hudson Way Capital Management LLC’s investment portfolio, making the stock its 12th largest position. Hudson Way Capital Management LLC owned about 0.24% of Tyler Technologies worth $52,971,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. General American Investors Co. Inc. raised its stake in Tyler Technologies by 7.2% during the third quarter. General American Investors Co. Inc. now owns 44,381 shares of the technology company’s stock worth $23,218,000 after acquiring an additional 3,000 shares in the last quarter. Lazard Freres Gestion S.A.S. boosted its holdings in Tyler Technologies by 150.0% in the third quarter. Lazard Freres Gestion S.A.S. now owns 5,000 shares of the technology company’s stock valued at $2,615,000 after acquiring an additional 3,000 shares during the last quarter. ICICI Prudential Asset Management Co Ltd acquired a new stake in Tyler Technologies in the third quarter worth about $2,111,000. Principal Financial Group Inc. increased its position in Tyler Technologies by 11.4% in the third quarter. Principal Financial Group Inc. now owns 1,410,640 shares of the technology company’s stock worth $738,010,000 after purchasing an additional 144,612 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in Tyler Technologies by 4.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 172,932 shares of the technology company’s stock worth $90,471,000 after purchasing an additional 8,126 shares during the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

Insider Activity

In other news, Director Andrew D. Teed purchased 1,600 shares of Tyler Technologies stock in a transaction dated Monday, February 23rd. The shares were bought at an average cost of $309.91 per share, with a total value of $495,856.00. Following the completion of the transaction, the director directly owned 5,118 shares in the company, valued at $1,586,119.38. This trade represents a 45.48% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel M. Pope sold 500 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $355.40, for a total transaction of $177,700.00. Following the completion of the transaction, the director directly owned 2,871 shares of the company’s stock, valued at $1,020,353.40. This trade represents a 14.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $543.00 target price (down from $671.00) on shares of Tyler Technologies in a research note on Friday, February 13th. Needham & Company LLC reissued a “buy” rating and set a $750.00 price target on shares of Tyler Technologies in a research note on Tuesday, February 3rd. DA Davidson restated a “buy” rating and issued a $460.00 price objective on shares of Tyler Technologies in a report on Tuesday, February 17th. Oppenheimer reduced their price objective on shares of Tyler Technologies from $510.00 to $450.00 and set an “outperform” rating on the stock in a research note on Friday, February 13th. Finally, Robert W. Baird set a $440.00 target price on shares of Tyler Technologies in a report on Friday, February 13th. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $467.54.

Tyler Technologies Trading Up 1.4%

Tyler Technologies stock opened at $350.41 on Monday. The firm has a market capitalization of $15.06 billion, a P/E ratio of 48.67, a PEG ratio of 2.35 and a beta of 0.90. The business has a 50-day moving average of $378.04 and a 200-day moving average of $452.47. Tyler Technologies, Inc. has a 1 year low of $283.71 and a 1 year high of $621.34.

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