Thematics Asset Management Trims Position in Tyler Technologies, Inc. (NYSE:TYL)

Thematics Asset Management lowered its stake in Tyler Technologies, Inc. (NYSE:TYL) by 18.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 25,961 shares of the technology company’s stock after selling 5,865 shares during the quarter. Thematics Asset Management owned 0.06% of Tyler Technologies worth $15,154,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Tidal Investments LLC raised its position in Tyler Technologies by 64.8% in the first quarter. Tidal Investments LLC now owns 2,953 shares of the technology company’s stock valued at $1,253,000 after purchasing an additional 1,161 shares during the period. SG Americas Securities LLC grew its stake in Tyler Technologies by 18.3% in the 2nd quarter. SG Americas Securities LLC now owns 8,117 shares of the technology company’s stock valued at $4,081,000 after acquiring an additional 1,255 shares during the last quarter. Aigen Investment Management LP purchased a new position in Tyler Technologies in the 3rd quarter valued at about $1,309,000. Vaughan Nelson Investment Management L.P. grew its stake in Tyler Technologies by 21.5% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 123,253 shares of the technology company’s stock worth $61,969,000 after acquiring an additional 21,818 shares during the period. Finally, Swedbank AB acquired a new position in Tyler Technologies in the second quarter valued at $251,390,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TYL. Barclays increased their price objective on shares of Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Piper Sandler raised their price target on shares of Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. The Goldman Sachs Group reiterated a “buy” rating and set a $627.00 price target on shares of Tyler Technologies in a research report on Friday, September 13th. StockNews.com lowered Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Robert W. Baird upped their price objective on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $642.62.

Tyler Technologies Trading Down 0.5 %

NYSE TYL traded down $3.36 on Tuesday, hitting $620.83. The company’s stock had a trading volume of 22,778 shares, compared to its average volume of 234,059. The firm has a market cap of $26.57 billion, a PE ratio of 113.90, a PEG ratio of 5.52 and a beta of 0.77. Tyler Technologies, Inc. has a 1-year low of $397.80 and a 1-year high of $631.43. The company’s 50-day moving average is $595.22 and its 200 day moving average is $552.15. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.09. The firm had revenue of $543.34 million for the quarter, compared to the consensus estimate of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.66 EPS. As a group, analysts predict that Tyler Technologies, Inc. will post 7.36 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Brian K. Miller sold 2,500 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $586.97, for a total transaction of $1,467,425.00. Following the completion of the sale, the chief financial officer now directly owns 11,950 shares of the company’s stock, valued at $7,014,291.50. The trade was a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $590.98, for a total value of $2,954,900.00. Following the completion of the sale, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at approximately $44,323,500. This trade represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,600 shares of company stock worth $16,412,595. Company insiders own 1.50% of the company’s stock.

About Tyler Technologies

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.