Victory Capital Management Inc. Has $17.33 Million Stock Position in Tyler Technologies, Inc. (NYSE:TYL)

Victory Capital Management Inc. lowered its stake in Tyler Technologies, Inc. (NYSE:TYL) by 6.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,693 shares of the technology company’s stock after selling 2,175 shares during the quarter. Victory Capital Management Inc. owned about 0.07% of Tyler Technologies worth $17,332,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Avantax Advisory Services Inc. increased its position in shares of 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 buying an additional 149 shares in the last quarter. Covestor Ltd increased its position in shares of Tyler Technologies by 153.6% in the 1st quarter. Covestor Ltd now owns 71 shares of the technology company’s stock valued at $30,000 after buying an additional 43 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of Tyler Technologies by 143.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,794 shares of the technology company’s stock valued at $762,000 after buying an additional 1,058 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Tyler Technologies by 39.4% in the 1st quarter. Bessemer Group Inc. now owns 6,840 shares of the technology company’s stock valued at $2,906,000 after buying an additional 1,935 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its position in shares of Tyler Technologies by 2.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 17,040 shares of the technology company’s stock valued at $7,237,000 after buying an additional 449 shares in the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

Tyler Technologies Price Performance

Shares of NYSE TYL opened at $599.39 on Wednesday. The stock has a market capitalization of $25.65 billion, a price-to-earnings ratio of 109.38, a PEG ratio of 5.39 and a beta of 0.77. The business has a 50-day moving average of $594.10 and a 200-day moving average of $549.55. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $631.43.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The company had revenue of $543.34 million during the quarter, compared to analysts’ expectations of $547.34 million. During the same quarter last year, the company earned $1.66 EPS. Tyler Technologies’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, sell-side analysts predict that Tyler Technologies, Inc. will post 7.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on TYL shares. 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 report on Friday, October 25th. Truist Financial reiterated a “buy” rating and set a $685.00 target price (up previously from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Wells Fargo & Company increased their target price on Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. DA Davidson increased their target price on Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $627.00 target price on shares of Tyler Technologies in a report 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.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $642.62.

Insider Activity at Tyler Technologies

In related news, CFO Brian K. Miller sold 2,500 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $586.97, for a total value of $1,467,425.00. Following the completion of the sale, the chief financial officer now directly owns 11,950 shares in the company, valued at approximately $7,014,291.50. This trade represents a 17.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Glenn A. Carter sold 3,350 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $582.57, for a total transaction of $1,951,609.50. Following the completion of the sale, the director now owns 2,654 shares of the company’s stock, valued at $1,546,140.78. This trade represents a 55.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,600 shares of company stock worth $16,412,595. 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.