Artisan Partners Limited Partnership Reduces Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Artisan Partners Limited Partnership trimmed its stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 8.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 926,754 shares of the technology company's stock after selling 85,812 shares during the period. Artisan Partners Limited Partnership owned approximately 2.17% of Tyler Technologies worth $534,403,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Tyler Technologies by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 5,310,401 shares of the technology company's stock valued at $3,062,190,000 after acquiring an additional 62,420 shares during the period. Geode Capital Management LLC raised its stake in shares of Tyler Technologies by 2.2% during the third quarter. Geode Capital Management LLC now owns 1,108,908 shares of the technology company's stock worth $645,585,000 after purchasing an additional 24,284 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Tyler Technologies by 2.0% during the third quarter. Franklin Resources Inc. now owns 912,746 shares of the technology company's stock worth $547,354,000 after purchasing an additional 17,943 shares during the period. Van ECK Associates Corp grew its position in Tyler Technologies by 1,991.8% in the 4th quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company's stock valued at $317,486,000 after buying an additional 524,259 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Tyler Technologies by 148.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company's stock valued at $269,369,000 after buying an additional 275,511 shares during the period. Institutional investors and hedge funds own 93.30% of the company's stock.

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Analysts Set New Price Targets

TYL has been the subject of several analyst reports. Truist Financial reissued a "buy" rating and set a $775.00 price target (up from $685.00) on shares of Tyler Technologies in a report on Friday, February 14th. Wells Fargo & Company reissued an "equal weight" rating and set a $615.00 target price (down from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. Needham & Company LLC restated a "buy" rating and issued a $700.00 price target on shares of Tyler Technologies in a research note on Tuesday, January 21st. DA Davidson reiterated a "neutral" rating and issued a $575.00 price objective on shares of Tyler Technologies in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group boosted their target price on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $676.25.

Tyler Technologies Price Performance

Shares of TYL traded down $6.75 during mid-day trading on Monday, reaching $572.91. 83,426 shares of the company's stock were exchanged, compared to its average volume of 247,899. Tyler Technologies, Inc. has a 52-week low of $397.80 and a 52-week high of $661.31. The company has a market cap of $24.70 billion, a price-to-earnings ratio of 94.25, a PEG ratio of 4.93 and a beta of 0.80. The company has a 50-day simple moving average of $599.76 and a two-hundred day simple moving average of $597.71. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.44 by ($0.57). Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. On average, sell-side analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Brian K. Miller sold 1,550 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $613.58, for a total value of $951,049.00. Following the completion of the sale, the chief financial officer now owns 14,026 shares of the company's stock, valued at $8,606,073.08. This represents a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of Tyler Technologies stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the transaction, the chief executive officer now owns 75,734 shares in the company, valued at $46,772,561.06. The trade was a 7.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,064 shares of company stock worth $8,688,030 over the last three months. 2.20% of the stock is owned by insiders.

Tyler Technologies 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.