Tyler Technologies, Inc. $TYL Shares Sold by Aberdeen Group plc

Aberdeen Group plc lessened its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 7.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,375 shares of the technology company’s stock after selling 1,888 shares during the quarter. Aberdeen Group plc owned 0.06% of Tyler Technologies worth $11,065,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Advisors Asset Management Inc. acquired a new stake in Tyler Technologies during the 1st quarter valued at $38,000. NewEdge Advisors LLC grew its holdings in Tyler Technologies by 17.8% during the 1st quarter. NewEdge Advisors LLC now owns 251 shares of the technology company’s stock valued at $146,000 after purchasing an additional 38 shares in the last quarter. Woodline Partners LP acquired a new stake in Tyler Technologies during the 1st quarter valued at $2,102,000. Geneos Wealth Management Inc. grew its holdings in Tyler Technologies by 137.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 69 shares of the technology company’s stock valued at $40,000 after purchasing an additional 40 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in Tyler Technologies by 12.5% during the 2nd quarter. American Century Companies Inc. now owns 621 shares of the technology company’s stock valued at $368,000 after purchasing an additional 69 shares in the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, Director Glenn A. Carter sold 1,624 shares of the stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $349.14, for a total transaction of $567,003.36. Following the sale, the director directly owned 5,298 shares of the company’s stock, valued at approximately $1,849,743.72. This represents a 23.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Abigail Marshall Diaz-Pedrosa bought 610 shares of the company’s stock in a transaction on Friday, February 20th. The shares were acquired at an average cost of $325.08 per share, for a total transaction of $198,298.80. Following the completion of the acquisition, the insider directly owned 1,123 shares of the company’s stock, valued at $365,064.84. This trade represents a 118.91% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold 7,298 shares of company stock valued at $2,658,721 in the last ninety days. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TYL. BTIG Research lowered their price target on shares of Tyler Technologies from $560.00 to $470.00 and set a “buy” rating for the company in a report on Monday, February 9th. Barclays cut 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. DA Davidson reaffirmed a “buy” rating and issued a $460.00 target price on shares of Tyler Technologies in a research report on Tuesday, February 17th. The Goldman Sachs Group set a $420.00 target price on Tyler Technologies in a research report on Friday, February 13th. Finally, TD Cowen cut their target price on Tyler Technologies from $600.00 to $500.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $467.54.

Tyler Technologies Stock Performance

NYSE:TYL opened at $333.54 on Wednesday. The company has a market capitalization of $14.16 billion, a price-to-earnings ratio of 46.32, a price-to-earnings-growth ratio of 2.27 and a beta of 0.92. Tyler Technologies, Inc. has a one year low of $283.71 and a one year high of $621.34. The stock has a 50-day simple moving average of $343.99 and a 200 day simple moving average of $427.53.

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 analysts’ consensus estimates of $2.71 by ($0.07). The firm had revenue of $575.18 million during the quarter, compared to analyst estimates of $591.09 million. Tyler Technologies had a return on equity of 10.42% and a net margin of 13.53%.The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the business posted $2.43 earnings per share. On average, equities research analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Tyler Technologies Profile

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.