Sei Investments Co. reduced its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 25.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,772 shares of the technology company’s stock after selling 11,064 shares during the quarter. Sei Investments Co. owned approximately 0.08% of Tyler Technologies worth $11,311,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of TYL. Vanguard Group Inc. raised its holdings in Tyler Technologies by 17.5% during the 2nd quarter. Vanguard Group Inc. now owns 4,508,634 shares of the technology company’s stock valued at $1,563,956,000 after buying an additional 670,800 shares during the last quarter. FDx Advisors Inc. raised its holdings in Tyler Technologies by 47,332.8% in the 1st quarter. FDx Advisors Inc. now owns 501,839 shares of the technology company’s stock worth $904,000 after purchasing an additional 500,781 shares in the last quarter. Capital World Investors raised its holdings in Tyler Technologies by 85.7% in the 1st quarter. Capital World Investors now owns 1,005,039 shares of the technology company’s stock worth $298,054,000 after purchasing an additional 463,774 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Tyler Technologies by 74.7% in the 1st quarter. Alliancebernstein L.P. now owns 778,086 shares of the technology company’s stock worth $230,749,000 after purchasing an additional 332,748 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Tyler Technologies by 666.7% in the 2nd quarter. Victory Capital Management Inc. now owns 262,351 shares of the technology company’s stock worth $91,004,000 after purchasing an additional 228,131 shares in the last quarter. Institutional investors own 91.08% of the company’s stock.
NYSE:TYL opened at $336.17 on Wednesday. The firm’s 50-day moving average price is $341.87 and its 200-day moving average price is $332.62. The company has a market capitalization of $13.53 billion, a PE ratio of 72.91, a P/E/G ratio of 5.37 and a beta of 0.72. Tyler Technologies, Inc. has a 1-year low of $245.00 and a 1-year high of $382.92.
Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, July 29th. The technology company reported $1.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.18. Tyler Technologies had a net margin of 16.96% and a return on equity of 10.05%. The company had revenue of $271.09 million for the quarter, compared to the consensus estimate of $279.40 million. During the same period in the prior year, the firm posted $1.30 EPS. Tyler Technologies’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, analysts expect that Tyler Technologies, Inc. will post 4.04 EPS for the current fiscal year.
Several research analysts have commented on TYL shares. Northland Securities upped their price objective on shares of Tyler Technologies from $350.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Piper Sandler restated an “overweight” rating and issued a $423.00 price objective on shares of Tyler Technologies in a report on Monday, July 20th. Zacks Investment Research lowered shares of Tyler Technologies from a “hold” rating to a “sell” rating and set a $342.00 price objective for the company. in a report on Monday. Oppenheimer lowered shares of Tyler Technologies from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 28th. Finally, Royal Bank of Canada assumed coverage on shares of Tyler Technologies in a report on Thursday, June 18th. They issued an “outperform” rating and a $375.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $336.58.
In related news, Chairman John S. Marr, Jr. sold 16,000 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $347.28, for a total transaction of $5,556,480.00. Following the sale, the chairman now directly owns 152,838 shares of the company’s stock, valued at approximately $53,077,580.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dustin R. Womble sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $338.18, for a total transaction of $3,381,800.00. Following the sale, the director now directly owns 146,105 shares in the company, valued at approximately $49,409,788.90. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.
Tyler Technologies Company Profile
Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. The company operates in two segments, Enterprise Software, and Appraisal and Tax. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools.
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