Envestnet Asset Management Inc. Grows Stock Position in Tyler Technologies, Inc. $TYL

Envestnet Asset Management Inc. increased its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 4.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 172,932 shares of the technology company’s stock after acquiring an additional 8,126 shares during the period. Envestnet Asset Management Inc. owned approximately 0.40% of Tyler Technologies worth $90,471,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Lazard Freres Gestion S.A.S. increased its position in shares of Tyler Technologies by 150.0% during the third quarter. Lazard Freres Gestion S.A.S. now owns 5,000 shares of the technology company’s stock worth $2,615,000 after acquiring an additional 3,000 shares during the period. General American Investors Co. Inc. grew its stake in Tyler Technologies by 7.2% during the 3rd quarter. General American Investors Co. Inc. now owns 44,381 shares of the technology company’s stock worth $23,218,000 after purchasing an additional 3,000 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Tyler Technologies by 11.4% during the 3rd 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. Atlantic Union Bankshares Corp purchased a new stake in Tyler Technologies during the 3rd quarter worth about $1,749,000. Finally, ProShare Advisors LLC raised its position in Tyler Technologies by 7.8% in the 2nd quarter. ProShare Advisors LLC now owns 11,511 shares of the technology company’s stock valued at $6,824,000 after purchasing an additional 834 shares in the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

Insider Activity at Tyler Technologies

In other news, Director Glenn A. Carter sold 500 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $458.73, for a total transaction of $229,365.00. Following the transaction, the director directly owned 3,172 shares in the company, valued at approximately $1,455,091.56. This trade represents a 13.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brian K. Miller sold 1,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $469.08, for a total transaction of $469,080.00. Following the completion of the sale, the chief financial officer owned 12,781 shares of the company’s stock, valued at approximately $5,995,311.48. This trade represents a 7.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 3,500 shares of company stock worth $1,605,605. 1.10% of the stock is currently owned by corporate insiders.

Tyler Technologies Price Performance

Shares of NYSE:TYL opened at $348.49 on Friday. Tyler Technologies, Inc. has a 12 month low of $320.23 and a 12 month high of $661.31. The firm has a market capitalization of $15.00 billion, a P/E ratio of 48.47, a P/E/G ratio of 2.35 and a beta of 0.91. The company’s fifty day moving average price is $436.77 and its 200 day moving average price is $494.01.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TYL shares. Oppenheimer lowered their price objective on Tyler Technologies from $600.00 to $510.00 and set an “outperform” rating for the company in a research report on Friday, January 23rd. DA Davidson reissued a “neutral” rating and issued a $510.00 price objective on shares of Tyler Technologies in a research report on Tuesday, February 3rd. Piper Sandler reduced their price objective on shares of Tyler Technologies from $708.00 to $671.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. The Goldman Sachs Group initiated coverage on shares of Tyler Technologies in a research note on Tuesday, January 13th. They set a “buy” rating and a $560.00 target price for the company. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Tyler Technologies in a report on Friday, January 9th. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $607.57.

Tyler Technologies Company Profile

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.