Chartwell Investment Partners LLC decreased its holdings in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 48.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,979 shares of the technology company's stock after selling 4,748 shares during the period. Chartwell Investment Partners LLC's holdings in Tyler Technologies were worth $2,906,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the business. Empowered Funds LLC boosted its stake in Tyler Technologies by 49.7% in the 1st quarter. Empowered Funds LLC now owns 2,414 shares of the technology company's stock worth $1,026,000 after purchasing an additional 801 shares during the period. Meeder Advisory Services Inc. grew its stake in Tyler Technologies by 11.5% during the first quarter. Meeder Advisory Services Inc. now owns 572 shares of the technology company's stock valued at $243,000 after acquiring an additional 59 shares in the last quarter. QRG Capital Management Inc. grew its stake in Tyler Technologies by 10.4% during the first quarter. QRG Capital Management Inc. now owns 658 shares of the technology company's stock valued at $280,000 after acquiring an additional 62 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in Tyler Technologies by 22.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 819 shares of the technology company's stock valued at $348,000 after acquiring an additional 149 shares during the last quarter. Finally, Bleakley Financial Group LLC purchased a new stake in Tyler Technologies in the 1st quarter worth $877,000. Hedge funds and other institutional investors own 93.30% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on TYL shares. Oppenheimer raised their price objective on Tyler Technologies from $625.00 to $700.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. Truist Financial reaffirmed a "buy" rating and issued a $685.00 price objective (up previously from $600.00) on shares of Tyler Technologies in a research note on Friday, October 25th. Evercore ISI upgraded Tyler Technologies to a "hold" rating in a research report on Friday, July 26th. Piper Sandler raised their target price on shares of Tyler Technologies from $625.00 to $701.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $627.00 price target on shares of Tyler Technologies in a research note on Friday, September 13th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $642.62.
Check Out Our Latest Analysis on TYL
Tyler Technologies Trading Down 0.4 %
Shares of TYL stock traded down $2.61 during trading hours on Wednesday, reaching $616.51. 243,866 shares of the stock were exchanged, compared to its average volume of 229,711. The firm has a market capitalization of $26.39 billion, a price-to-earnings ratio of 112.50, a price-to-earnings-growth ratio of 5.59 and a beta of 0.77. Tyler Technologies, Inc. has a 12-month low of $397.80 and a 12-month high of $631.43. The company's 50-day moving average price is $592.85 and its 200-day moving average price is $545.06. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18.
Tyler Technologies (NYSE:TYL - Get Free Report) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, beating analysts' consensus estimates of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The firm had revenue of $543.34 million for the quarter, compared to analysts' expectations of $547.34 million. During the same quarter in the prior year, the firm posted $1.66 earnings per share. The company's quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities analysts anticipate that Tyler Technologies, Inc. will post 7.39 earnings per share for the current year.
Insider Transactions at Tyler Technologies
In other news, CFO Brian K. Miller sold 2,500 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $624.41, for a total transaction of $1,561,025.00. Following the transaction, the chief financial officer now directly owns 11,950 shares of the company's stock, valued at approximately $7,461,699.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,250 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $605.82, for a total transaction of $3,786,375.00. Following the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at $45,436,500. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian K. Miller sold 2,500 shares of the firm's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $624.41, for a total transaction of $1,561,025.00. Following the transaction, the chief financial officer now directly owns 11,950 shares in the company, valued at $7,461,699.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,600 shares of company stock worth $19,307,295. Insiders own 2.20% of the company's stock.
Tyler Technologies Company Profile
(
Free Report)
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.
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