Citigroup Inc. Trims Stake in Tyler Technologies, Inc. $TYL

Citigroup Inc. lowered its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 6.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,014 shares of the technology company’s stock after selling 4,964 shares during the period. Citigroup Inc.’s holdings in Tyler Technologies were worth $35,059,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Tredje AP fonden raised its stake in Tyler Technologies by 2.0% in the third quarter. Tredje AP fonden now owns 3,791 shares of the technology company’s stock valued at $1,983,000 after purchasing an additional 76 shares in the last quarter. Stevens Capital Management LP bought a new position in shares of Tyler Technologies in the 3rd quarter worth $552,000. ICICI Prudential Asset Management Co Ltd purchased a new stake in shares of Tyler Technologies during the 3rd quarter valued at $2,111,000. Burling Wealth Partners LLC lifted its holdings in shares of Tyler Technologies by 120.4% during the 3rd quarter. Burling Wealth Partners LLC now owns 5,901 shares of the technology company’s stock worth $3,087,000 after acquiring an additional 3,224 shares during the last quarter. Finally, CenterBook Partners LP purchased a new position in Tyler Technologies in the third quarter worth $1,882,000. Institutional investors own 93.30% of the company’s stock.

Tyler Technologies Price Performance

Shares of Tyler Technologies stock opened at $324.22 on Wednesday. Tyler Technologies, Inc. has a one year low of $283.71 and a one year high of $626.56. The business’s 50 day simple moving average is $403.92 and its two-hundred day simple moving average is $471.67. The stock has a market capitalization of $13.94 billion, a P/E ratio of 45.03, a price-to-earnings-growth ratio of 2.12 and a beta of 0.91.

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

Insiders Place Their Bets

In other news, insider Abigail Marshall Diaz-Pedrosa acquired 610 shares of the firm’s stock in a transaction on Friday, February 20th. The shares were purchased at an average price of $325.08 per share, for a total transaction of $198,298.80. Following the completion of the transaction, the insider owned 1,123 shares of the company’s stock, valued at $365,064.84. The trade was a 118.91% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian K. Miller sold 1,000 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $448.51, for a total transaction of $448,510.00. Following the transaction, the chief financial officer directly owned 17,148 shares of the company’s stock, valued at approximately $7,691,049.48. This trade represents a 5.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,500 shares of company stock valued at $1,136,525 in the last quarter. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on TYL. Cantor Fitzgerald restated a “neutral” rating and set a $325.00 price target on shares of Tyler Technologies in a research report on Friday, February 13th. Barclays decreased their price objective on Tyler Technologies from $715.00 to $410.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. DA Davidson reaffirmed a “buy” rating and issued a $460.00 target price on shares of Tyler Technologies in a research note on Tuesday, February 17th. Stifel Nicolaus decreased their price target on shares of Tyler Technologies from $550.00 to $400.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Finally, Piper Sandler restated an “overweight” rating and issued a $543.00 price objective (down from $671.00) on shares of Tyler Technologies in a report on Friday, February 13th. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Tyler Technologies presently has a consensus rating of “Moderate Buy” and an average 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.