Cambridge Investment Research Advisors Inc. Decreases Stake in Tyler Technologies, Inc. (NYSE:TYL)

Cambridge Investment Research Advisors Inc. cut its position in Tyler Technologies, Inc. (NYSE:TYL) by 61.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,430 shares of the technology company’s stock after selling 7,174 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Tyler Technologies were worth $2,227,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Independence Bank of Kentucky purchased a new position in Tyler Technologies in the second quarter valued at $25,000. Kapitalo Investimentos Ltda acquired a new position in shares of Tyler Technologies during the 4th quarter worth about $26,000. Covestor Ltd increased its holdings 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 acquiring an additional 43 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Tyler Technologies by 329.4% in the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock valued at $37,000 after acquiring an additional 56 shares during the last quarter. Finally, Lynx Investment Advisory acquired a new stake in shares of Tyler Technologies during the 2nd quarter worth about $38,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Tyler Technologies Trading Up 0.0 %

NYSE:TYL opened at $587.87 on Monday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.19. The stock’s 50 day simple moving average is $547.02 and its 200-day simple moving average is $482.96. Tyler Technologies, Inc. has a 12-month low of $361.16 and a 12-month high of $593.50. The firm has a market cap of $24.96 billion, a P/E ratio of 133.00, a PEG ratio of 5.44 and a beta of 0.76.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.06. The company had revenue of $540.98 million during the quarter, compared to the consensus estimate of $541.01 million. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. Tyler Technologies’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.53 EPS. Equities analysts anticipate that Tyler Technologies, Inc. will post 7.21 EPS for the current year.

Insider Buying and Selling at Tyler Technologies

In other news, Director Daniel M. Pope sold 275 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $578.26, for a total transaction of $159,021.50. Following the completion of the transaction, the director now directly owns 3,218 shares of the company’s stock, valued at approximately $1,860,840.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Daniel M. Pope sold 275 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $578.26, for a total transaction of $159,021.50. Following the transaction, the director now owns 3,218 shares of the company’s stock, valued at $1,860,840.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $481.99, for a total value of $2,891,940.00. Following the completion of the sale, the insider now directly owns 6,983 shares of the company’s stock, valued at approximately $3,365,736.17. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,325 shares of company stock valued at $11,068,068. 2.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TYL has been the subject of a number of research analyst reports. Loop Capital upped their price target on Tyler Technologies from $485.00 to $530.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Truist Financial restated a “buy” rating and issued a $600.00 target price (up previously from $560.00) on shares of Tyler Technologies in a report on Friday, July 26th. BTIG Research lifted their price target on shares of Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Wells Fargo & Company upped their price objective on shares of Tyler Technologies from $580.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $600.00 price objective on shares of Tyler Technologies in a report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $582.31.

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.