Tyler Technologies, Inc. (NYSE:TYL) Shares Sold by Praesidium Investment Management Company LLC

Praesidium Investment Management Company LLC decreased its stake in Tyler Technologies, Inc. (NYSE:TYL) by 7.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,628 shares of the technology company’s stock after selling 4,730 shares during the period. Tyler Technologies accounts for about 5.9% of Praesidium Investment Management Company LLC’s holdings, making the stock its 8th biggest holding. Praesidium Investment Management Company LLC’s holdings in Tyler Technologies were worth $34,961,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in TYL. ProShare Advisors LLC increased its holdings in Tyler Technologies by 10.9% in the fourth quarter. ProShare Advisors LLC now owns 9,031 shares of the technology company’s stock worth $5,208,000 after purchasing an additional 888 shares in the last quarter. Quantinno Capital Management LP increased its holdings in Tyler Technologies by 74.2% in the fourth quarter. Quantinno Capital Management LP now owns 2,401 shares of the technology company’s stock worth $1,385,000 after purchasing an additional 1,023 shares in the last quarter. Mufg Securities Americas Inc. bought a new stake in Tyler Technologies in the fourth quarter worth approximately $364,000. Nissay Asset Management Corp Japan ADV increased its holdings in Tyler Technologies by 2.1% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 5,178 shares of the technology company’s stock worth $3,040,000 after purchasing an additional 107 shares in the last quarter. Finally, Nomura Holdings Inc. bought a new stake in Tyler Technologies in the fourth quarter worth approximately $1,190,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Barclays lowered their target price on Tyler Technologies from $700.00 to $695.00 and set an “overweight” rating for the company in a report on Friday, April 25th. StockNews.com upgraded Tyler Technologies from a “hold” rating to a “buy” rating in a report on Saturday, May 10th. Wells Fargo & Company decreased their price objective on Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Piper Sandler decreased their price objective on Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating for the company in a report on Friday, April 25th. Finally, Robert W. Baird decreased their price objective on Tyler Technologies from $785.00 to $700.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Tyler Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $674.67.

Insider Activity

In related news, insider John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the completion of the transaction, the insider now owns 6,983 shares of the company’s stock, valued at $4,322,477. This trade represents a 46.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian K. Miller sold 1,033 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $557.45, for a total value of $575,845.85. Following the transaction, the chief financial officer now directly owns 13,028 shares of the company’s stock, valued at approximately $7,262,458.60. This trade represents a 7.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,462 shares of company stock worth $12,258,926 in the last quarter. 1.10% of the stock is owned by company insiders.

Tyler Technologies Price Performance

Shares of Tyler Technologies stock opened at $563.90 on Thursday. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $24.32 billion, a PE ratio of 93.05, a price-to-earnings-growth ratio of 4.93 and a beta of 0.88. The business’s 50-day moving average price is $560.95 and its 200-day moving average price is $590.20. Tyler Technologies, Inc. has a 12 month low of $458.50 and a 12 month high of $661.31.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.56 by $0.22. The firm had revenue of $562.43 million for the quarter, compared to analyst estimates of $556.45 million. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The company’s revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.20 EPS. Sell-side analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Tyler Technologies Company 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.