Tyler Technologies, Inc. $TYL Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. lessened its stake in Tyler Technologies, Inc. (NYSE:TYL) by 32.9% during the second quarter, Holdings Channel reports. The firm owned 3,404 shares of the technology company’s stock after selling 1,668 shares during the period. Bessemer Group Inc.’s holdings in Tyler Technologies were worth $2,018,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Tyler Technologies by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 5,459,163 shares of the technology company’s stock worth $3,173,903,000 after buying an additional 148,762 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Tyler Technologies by 6.3% during the first 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 last quarter. JPMorgan Chase & Co. raised its holdings in shares of Tyler Technologies by 3.1% in the 1st quarter. JPMorgan Chase & Co. now owns 480,085 shares of the technology company’s stock worth $279,117,000 after purchasing an additional 14,219 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Tyler Technologies by 17.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 428,304 shares of the technology company’s stock worth $249,012,000 after purchasing an additional 62,889 shares during the period. Finally, Blair William & Co. IL increased its position in Tyler Technologies by 0.9% during the 2nd quarter. Blair William & Co. IL now owns 424,768 shares of the technology company’s stock worth $251,819,000 after purchasing an additional 3,894 shares in the last quarter. 93.30% of the stock is owned by hedge funds and other institutional investors.

Tyler Technologies Stock Performance

NYSE:TYL opened at $477.90 on Friday. The stock has a market cap of $20.67 billion, a price-to-earnings ratio of 66.47, a price-to-earnings-growth ratio of 3.67 and a beta of 0.89. Tyler Technologies, Inc. has a one year low of $450.00 and a one year high of $661.31. The business’s 50-day simple moving average is $526.78 and its 200 day simple moving average is $555.37.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.78 by $0.13. Tyler Technologies had a return on equity of 10.64% and a net margin of 13.72%.The firm had revenue of $584.01 million during the quarter, compared to analyst estimates of $587.59 million. During the same quarter last year, the firm earned $2.40 EPS. Tyler Technologies’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities research analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Analyst Ratings Changes

TYL has been the subject of several research reports. Oppenheimer reiterated an “outperform” rating and set a $600.00 price objective on shares of Tyler Technologies in a research note on Thursday. Weiss Ratings reissued a “hold (c)” rating on shares of Tyler Technologies in a research report on Tuesday, October 14th. UBS Group reaffirmed an “overweight” rating on shares of Tyler Technologies in a research report on Wednesday, October 8th. Barclays increased their target price on Tyler Technologies from $695.00 to $715.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Finally, DA Davidson reduced their price target on Tyler Technologies from $585.00 to $560.00 and set a “neutral” rating on the stock in a research report on Friday, October 10th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $674.60.

Insider Activity

In other Tyler Technologies news, Director Glenn A. Carter sold 750 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $538.30, for a total transaction of $403,725.00. Following the transaction, the director directly owned 3,172 shares in the company, valued at $1,707,487.60. This represents a 19.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John S. Marr, Jr. sold 4,250 shares of the business’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $555.53, for a total transaction of $2,361,002.50. Following the completion of the sale, the insider directly owned 6,983 shares of the company’s stock, valued at $3,879,265.99. The trade was a 37.83% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 14,250 shares of company stock worth $8,099,000. 1.10% of the stock is currently owned by insiders.

Tyler Technologies Company 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.