Assenagon Asset Management S.A. Reduces Stock Position in Tyler Technologies, Inc. $TYL

Assenagon Asset Management S.A. reduced its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 65.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,836 shares of the technology company’s stock after selling 14,737 shares during the period. Assenagon Asset Management S.A.’s holdings in Tyler Technologies were worth $3,557,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Root Financial Partners LLC acquired a new position in Tyler Technologies during the 3rd quarter worth $28,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Tyler Technologies during the second quarter worth about $32,000. Advisors Asset Management Inc. acquired a new position in Tyler Technologies in the first quarter worth about $38,000. Geneos Wealth Management Inc. increased its holdings in Tyler Technologies by 137.9% in the first quarter. Geneos Wealth Management Inc. now owns 69 shares of the technology company’s stock valued at $40,000 after buying an additional 40 shares during the last quarter. Finally, Quent Capital LLC acquired a new stake in Tyler Technologies during the third quarter valued at approximately $49,000. Institutional investors own 93.30% of the company’s stock.

Insider Activity

In other Tyler Technologies news, Director Daniel M. Pope sold 500 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $355.40, for a total transaction of $177,700.00. Following the completion of the transaction, the director owned 2,871 shares in the company, valued at approximately $1,020,353.40. The trade was a 14.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andrew D. Teed purchased 1,600 shares of the firm’s stock in a transaction dated Monday, February 23rd. The stock was acquired at an average cost of $309.91 per share, with a total value of $495,856.00. Following the purchase, the director owned 5,118 shares of the company’s stock, valued at approximately $1,586,119.38. This represents a 45.48% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold 7,298 shares of company stock worth $2,658,721 over the last ninety days. 1.10% of the stock is currently owned by company insiders.

Tyler Technologies Stock Down 0.0%

TYL stock opened at $333.92 on Monday. The stock has a market cap of $14.18 billion, a PE ratio of 46.38, a price-to-earnings-growth ratio of 2.24 and a beta of 0.90. The firm’s 50-day simple moving average is $357.57 and its 200 day simple moving average is $437.46. Tyler Technologies, Inc. has a fifty-two week low of $283.71 and a fifty-two week high of $621.34.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, February 11th. The technology company reported $2.64 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.07). The firm had revenue of $575.18 million during 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 revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the company posted $2.43 EPS. Equities analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on TYL. Robert W. Baird set a $440.00 target price on Tyler Technologies in a research report on Friday, February 13th. Barclays decreased their price objective on shares of Tyler Technologies from $715.00 to $410.00 and set an “overweight” rating for the company in a report on Friday, February 13th. Oppenheimer reduced their price target on shares of Tyler Technologies from $510.00 to $450.00 and set an “outperform” rating on the stock in a research report on Friday, February 13th. Piper Sandler reaffirmed an “overweight” rating and set a $543.00 price objective (down from $671.00) on shares of Tyler Technologies in a research report on Friday, February 13th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $325.00 price objective on shares of Tyler Technologies in a research note 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $467.54.

Tyler Technologies 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.