Tyler Technologies, Inc. $TYL Shares Sold by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership cut its stake in Tyler Technologies, Inc. (NYSE:TYL) by 24.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 526,928 shares of the technology company’s stock after selling 171,688 shares during the quarter. Artisan Partners Limited Partnership owned approximately 1.22% of Tyler Technologies worth $275,668,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. General American Investors Co. Inc. grew its position in Tyler Technologies by 7.2% during the third quarter. General American Investors Co. Inc. now owns 44,381 shares of the technology company’s stock valued at $23,218,000 after buying an additional 3,000 shares during the period. Lazard Freres Gestion S.A.S. raised its position in shares of Tyler Technologies by 150.0% in the third quarter. Lazard Freres Gestion S.A.S. now owns 5,000 shares of the technology company’s stock worth $2,615,000 after acquiring an additional 3,000 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Tyler Technologies by 11.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,410,640 shares of the technology company’s stock worth $738,010,000 after acquiring an additional 144,612 shares in the last quarter. ICICI Prudential Asset Management Co Ltd acquired a new stake in shares of Tyler Technologies during the 3rd quarter valued at about $2,111,000. Finally, Envestnet Asset Management Inc. grew its position in shares of Tyler Technologies by 4.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 172,932 shares of the technology company’s stock valued at $90,471,000 after acquiring an additional 8,126 shares during the period. Institutional investors and hedge funds own 93.30% of the company’s stock.

Insider Activity

In other news, Director Glenn A. Carter sold 500 shares of Tyler Technologies stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $458.73, for a total transaction of $229,365.00. Following the sale, the director owned 3,172 shares of the company’s stock, valued at approximately $1,455,091.56. The trade was a 13.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brian K. Miller sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $458.65, for a total value of $458,650.00. Following the completion of the transaction, the chief financial officer owned 16,148 shares in the company, valued at $7,406,280.20. This represents a 5.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 2,500 shares of company stock valued at $1,136,525. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TYL shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Tyler Technologies in a research report on Friday, January 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $750.00 target price on shares of Tyler Technologies in a research note on Tuesday, February 3rd. Barclays decreased their target price on Tyler Technologies from $715.00 to $410.00 and set an “overweight” rating on the stock in a research report on Friday, February 13th. TD Cowen cut their price target on shares of Tyler Technologies from $600.00 to $500.00 and set a “buy” rating for the company in a report on Friday, February 13th. Finally, Robert W. Baird set a $440.00 price objective on shares of Tyler Technologies in a research report on Friday, February 13th. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $467.54.

Tyler Technologies Stock Performance

NYSE TYL opened at $353.21 on Friday. The stock’s fifty day moving average is $399.55 and its two-hundred day moving average is $469.91. The firm has a market capitalization of $15.18 billion, a P/E ratio of 49.06, a price-to-earnings-growth ratio of 2.24 and a beta of 0.91. Tyler Technologies, Inc. has a fifty-two week low of $283.71 and a fifty-two week high of $626.56.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, February 11th. The technology company reported $2.64 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.07). Tyler Technologies had a return on equity of 10.42% and a net margin of 13.53%.The company had revenue of $575.18 million for the quarter, compared to analysts’ expectations of $591.09 million. During the same quarter in the prior year, the firm earned $2.43 EPS. The firm’s revenue was up 6.3% on a year-over-year basis. As a group, sell-side analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

About Tyler Technologies

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler’s product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.