Powell Investment Advisors LLC Trims Stake in Tyler Technologies, Inc. (NYSE:TYL)

Powell Investment Advisors LLC lessened its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 6.9% during the 1st quarter, HoldingsChannel reports. The fund owned 1,219 shares of the technology company’s stock after selling 90 shares during the quarter. Powell Investment Advisors LLC’s holdings in Tyler Technologies were worth $709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Massachusetts Financial Services Co. MA raised its stake in Tyler Technologies by 6.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 998,927 shares of the technology company’s stock worth $580,766,000 after acquiring an additional 59,554 shares during the period. GAMMA Investing LLC increased its stake in shares of Tyler Technologies by 57,694.7% in the first quarter. GAMMA Investing LLC now owns 878,480 shares of the technology company’s stock worth $510,739,000 after purchasing an additional 876,960 shares in the last quarter. Northern Trust Corp increased its stake in shares of Tyler Technologies by 13.9% in the fourth quarter. Northern Trust Corp now owns 497,367 shares of the technology company’s stock worth $286,802,000 after purchasing an additional 60,654 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Tyler Technologies by 52.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 283,449 shares of the technology company’s stock valued at $163,448,000 after purchasing an additional 97,718 shares during the period. Finally, Handelsbanken Fonder AB lifted its stake in shares of Tyler Technologies by 28.0% during the 1st quarter. Handelsbanken Fonder AB now owns 254,851 shares of the technology company’s stock valued at $148,168,000 after buying an additional 55,800 shares in the last quarter. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Insider Activity at Tyler Technologies

In other news, CEO H Lynn Moore, Jr. sold 5,250 shares of the company’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $585.18, for a total transaction of $3,072,195.00. Following the sale, the chief executive officer directly owned 81,775 shares in the company, valued at approximately $47,853,094.50. This represents a 6.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $573.60, for a total transaction of $215,100.00. Following the completion of the transaction, the insider directly owned 247 shares of the company’s stock, valued at approximately $141,679.20. The trade was a 60.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,135 shares of company stock valued at $14,976,480 over the last quarter. 1.10% of the stock is currently owned by insiders.

Tyler Technologies Trading Down 0.1%

Shares of Tyler Technologies stock opened at $583.89 on Friday. The firm has a market cap of $25.26 billion, a PE ratio of 83.41, a PEG ratio of 4.54 and a beta of 0.85. The stock has a 50 day moving average of $573.84 and a 200 day moving average of $578.44. Tyler Technologies, Inc. has a 12 month low of $513.52 and a 12 month high of $661.31.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, July 30th. The technology company reported $2.91 EPS for the quarter, beating analysts’ consensus estimates of $2.78 by $0.13. Tyler Technologies had a return on equity of 10.34% and a net margin of 13.66%. The firm had revenue of $584.01 million during the quarter, compared to the consensus estimate of $587.59 million. During the same period in the prior year, the company earned $2.40 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, equities research analysts forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TYL. DA Davidson dropped their target price on shares of Tyler Technologies from $595.00 to $570.00 and set a “neutral” rating for the company in a report on Friday, April 25th. Cantor Fitzgerald began coverage on Tyler Technologies in a research note on Tuesday, June 3rd. They issued a “neutral” rating and a $600.00 price objective for the company. Barclays increased their target price on Tyler Technologies from $695.00 to $715.00 and gave the stock an “overweight” rating in a research report on Thursday. Wells Fargo & Company decreased their target price on Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $750.00 price target on shares of Tyler Technologies in a report on Tuesday, May 13th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $686.91.

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.