Tyler Technologies, Inc. $TYL Shares Sold by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership reduced its stake in Tyler Technologies, Inc. (NYSE:TYL) by 24.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 526,928 shares of the technology company’s stock after selling 171,688 shares during the period. Artisan Partners Limited Partnership’s holdings in Tyler Technologies were worth $275,668,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Root Financial Partners LLC acquired a new stake in shares of Tyler Technologies during the third quarter valued at about $28,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Tyler Technologies during the 2nd quarter worth approximately $32,000. Advisors Asset Management Inc. purchased a new position in shares of Tyler Technologies during the 1st quarter worth approximately $38,000. Geneos Wealth Management Inc. increased its holdings in Tyler Technologies by 137.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 69 shares of the technology company’s stock valued at $40,000 after purchasing an additional 40 shares during the last quarter. Finally, Quent Capital LLC purchased a new stake in Tyler Technologies in the third quarter valued at approximately $49,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Insider Activity at Tyler Technologies

In other news, Director Andrew D. Teed bought 1,600 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The stock was purchased at an average cost of $309.91 per share, with a total value of $495,856.00. Following the transaction, the director directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Glenn A. Carter sold 500 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $458.73, for a total transaction of $229,365.00. Following the transaction, the director 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 disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 2,500 shares of company stock valued at $1,136,525. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Stifel Nicolaus lowered their price target on Tyler Technologies from $550.00 to $400.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Wells Fargo & Company cut their price objective on Tyler Technologies from $420.00 to $335.00 and set an “equal weight” rating on the stock in a report on Friday, February 13th. Weiss Ratings restated a “hold (c)” rating on shares of Tyler Technologies in a report on Friday, January 9th. Piper Sandler reaffirmed an “overweight” rating and issued a $543.00 target price (down from $671.00) on shares of Tyler Technologies in a research report on Friday, February 13th. Finally, Barclays cut their price target on shares of Tyler Technologies from $715.00 to $410.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $467.54.

Tyler Technologies Trading Up 5.4%

Tyler Technologies stock opened at $353.21 on Friday. The company has a fifty day simple moving average of $399.55 and a 200-day simple moving average of $469.91. The stock has a market cap of $15.18 billion, a P/E ratio of 49.06, a price-to-earnings-growth ratio of 2.24 and a beta of 0.91. Tyler Technologies, Inc. has a 12-month low of $283.71 and a 12-month 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 for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.07). The business had revenue of $575.18 million during the quarter, compared to analyst estimates of $591.09 million. Tyler Technologies had a net margin of 13.53% and a return on equity of 10.42%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.43 earnings per share. As a group, sell-side analysts forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

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.