Tyler Technologies, Inc. (NYSE:TYL) Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. reduced its stake in Tyler Technologies, Inc. (NYSE:TYL) by 58.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,072 shares of the technology company’s stock after selling 7,078 shares during the period. Bessemer Group Inc.’s holdings in Tyler Technologies were worth $2,949,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Larson Financial Group LLC grew its position in shares of Tyler Technologies by 221.4% during the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock worth $26,000 after buying an additional 31 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new stake in shares of Tyler Technologies during the first quarter worth approximately $26,000. Brown Brothers Harriman & Co. raised its position in Tyler Technologies by 300.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock worth $32,000 after acquiring an additional 42 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new position in shares of Tyler Technologies in the fourth quarter valued at $40,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Tyler Technologies during the fourth quarter valued at $41,000. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TYL has been the topic of a number of analyst reports. Cantor Fitzgerald initiated coverage on Tyler Technologies in a research note on Tuesday, June 3rd. They set a “neutral” rating and a $600.00 price objective on the stock. Robert W. Baird cut their target price on Tyler Technologies from $785.00 to $700.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Wells Fargo & Company lowered their price target on Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Needham & Company LLC restated a “buy” rating and set a $750.00 price objective on shares of Tyler Technologies in a research note on Tuesday, May 13th. Finally, DA Davidson decreased their price target on Tyler Technologies from $595.00 to $570.00 and set a “neutral” rating for the company in a research note on Friday, April 25th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Tyler Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $680.50.

Tyler Technologies Trading Up 0.7%

Shares of Tyler Technologies stock opened at $581.50 on Friday. Tyler Technologies, Inc. has a 1 year low of $495.21 and a 1 year high of $661.31. The stock has a 50-day moving average price of $567.18 and a 200 day moving average price of $581.62. The company has a market cap of $25.07 billion, a P/E ratio of 87.58, a P/E/G ratio of 4.51 and a beta of 0.84.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.56 by $0.22. The business had revenue of $562.43 million for the quarter, compared to analyst estimates of $556.45 million. Tyler Technologies had a return on equity of 10.29% and a net margin of 13.23%. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.20 EPS. On average, equities analysts forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Insider Activity at Tyler Technologies

In related news, Director Daniel M. Pope sold 365 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $550.00, for a total transaction of $200,750.00. Following the completion of the transaction, the director now directly owns 2,853 shares of the company’s stock, valued at approximately $1,569,150. This represents a 11.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $573.60, for a total value of $215,100.00. Following the transaction, the insider now directly owns 247 shares of the company’s stock, valued at $141,679.20. This trade represents a 60.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,500 shares of company stock valued at $15,177,230 in the last 90 days. 1.10% of the stock is owned by corporate 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.