Intech Investment Management LLC Has $6.41 Million Position in Tyler Technologies, Inc. $TYL

Intech Investment Management LLC lessened its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 26.7% in the third quarter, Holdings Channel reports. The institutional investor owned 12,248 shares of the technology company’s stock after selling 4,457 shares during the period. Intech Investment Management LLC’s holdings in Tyler Technologies were worth $6,408,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in TYL. Advisors Asset Management Inc. bought a new position in shares of Tyler Technologies during the first quarter valued at $38,000. NewEdge Advisors LLC raised its position in Tyler Technologies by 17.8% during the 1st quarter. NewEdge Advisors LLC now owns 251 shares of the technology company’s stock worth $146,000 after purchasing an additional 38 shares during the last quarter. Woodline Partners LP bought a new position in Tyler Technologies during the 1st quarter worth $2,102,000. Geneos Wealth Management Inc. lifted its holdings in Tyler Technologies by 137.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 69 shares of the technology company’s stock worth $40,000 after buying an additional 40 shares during the period. Finally, Wealthfront Advisers LLC grew its position in shares of Tyler Technologies by 22.7% in the 2nd quarter. Wealthfront Advisers LLC now owns 2,384 shares of the technology company’s stock valued at $1,413,000 after buying an additional 441 shares during the last quarter. 93.30% of the stock is owned by institutional investors.

Tyler Technologies Price Performance

NYSE TYL opened at $354.86 on Friday. The stock has a market capitalization of $15.26 billion, a P/E ratio of 49.29, a P/E/G ratio of 2.36 and a beta of 0.91. The business has a 50 day simple moving average of $397.48 and a 200 day simple moving average of $468.31. Tyler Technologies, Inc. has a one year low of $283.71 and a one year high of $626.56.

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

Insider Activity at Tyler Technologies

In related news, insider Abigail Marshall Diaz-Pedrosa acquired 610 shares of the business’s stock in a transaction dated Friday, February 20th. The shares were bought at an average price of $325.08 per share, with a total value of $198,298.80. Following the transaction, the insider directly owned 1,123 shares of the company’s stock, valued at $365,064.84. This trade represents a 118.91% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Andrew D. Teed bought 1,600 shares of Tyler Technologies stock in a transaction dated Monday, February 23rd. The stock was purchased at an average price of $309.91 per share, with a total value of $495,856.00. Following the completion of the purchase, the director owned 5,118 shares in the company, valued at $1,586,119.38. This trade represents a 45.48% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 2,500 shares of company stock valued at $1,136,525 in the last ninety days. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

TYL has been the subject of a number of analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Tyler Technologies in a research report on Friday, January 9th. Oppenheimer reduced their target price on Tyler Technologies from $510.00 to $450.00 and set an “outperform” rating on the stock in a report on Friday, February 13th. BTIG Research decreased their target price on shares of Tyler Technologies from $560.00 to $470.00 and set a “buy” rating for the company in a research report on Monday, February 9th. Piper Sandler restated an “overweight” rating and set a $543.00 price target (down from $671.00) on shares of Tyler Technologies in a report on Friday, February 13th. Finally, Needham & Company LLC restated a “buy” rating and issued a $750.00 price target on shares of Tyler Technologies in a research report on Tuesday, February 3rd. 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, Tyler Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $467.54.

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.