Envestnet Portfolio Solutions Inc. Reduces Position in Tyler Technologies, Inc. $TYL

Envestnet Portfolio Solutions Inc. trimmed its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 45.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,792 shares of the technology company’s stock after selling 1,485 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Tyler Technologies were worth $938,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Meridian Wealth Management LLC raised its holdings in shares of Tyler Technologies by 2.1% in the second quarter. Meridian Wealth Management LLC now owns 942 shares of the technology company’s stock worth $558,000 after buying an additional 19 shares during the period. Cerity Partners LLC grew its position in Tyler Technologies by 0.6% in the 2nd quarter. Cerity Partners LLC now owns 2,959 shares of the technology company’s stock valued at $1,754,000 after acquiring an additional 19 shares during the last quarter. Nordea Investment Management AB increased its stake in Tyler Technologies by 0.6% in the second quarter. Nordea Investment Management AB now owns 3,537 shares of the technology company’s stock worth $2,068,000 after purchasing an additional 20 shares during the period. Signaturefd LLC lifted its position in shares of Tyler Technologies by 3.9% during the third quarter. Signaturefd LLC now owns 613 shares of the technology company’s stock worth $321,000 after purchasing an additional 23 shares during the last quarter. Finally, Citizens Financial Group Inc. RI boosted its stake in shares of Tyler Technologies by 5.8% during the third quarter. Citizens Financial Group Inc. RI now owns 435 shares of the technology company’s stock valued at $228,000 after purchasing an additional 24 shares during the period. Institutional investors own 93.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. BTIG Research initiated coverage on shares of Tyler Technologies in a research note on Tuesday, December 16th. They issued a “buy” rating and a $560.00 price target on the stock. UBS Group reaffirmed an “overweight” rating on shares of Tyler Technologies in a research report on Wednesday, October 8th. Robert W. Baird set a $660.00 price target on Tyler Technologies in a report on Friday, October 31st. Piper Sandler dropped their price objective on Tyler Technologies from $708.00 to $671.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. Finally, Wells Fargo & Company decreased their target price on Tyler Technologies from $525.00 to $470.00 and set an “equal weight” rating for the company in a research report on Thursday, January 8th. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $611.14.

Tyler Technologies Stock Down 1.5%

Tyler Technologies stock opened at $419.82 on Thursday. The firm has a market cap of $18.06 billion, a P/E ratio of 58.39, a P/E/G ratio of 2.87 and a beta of 0.91. The business has a fifty day moving average of $452.54 and a two-hundred day moving average of $504.16. Tyler Technologies, Inc. has a twelve month low of $419.09 and a twelve month high of $661.31.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, October 29th. The technology company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.88 by $0.09. Tyler Technologies had a return on equity of 10.57% and a net margin of 13.72%.The firm had revenue of $595.88 million during the quarter, compared to analyst estimates of $594.34 million. During the same period in the previous year, the company posted $2.52 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Insider Transactions at Tyler Technologies

In other news, CFO Brian K. Miller sold 1,000 shares of Tyler Technologies stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $448.51, for a total value of $448,510.00. Following the transaction, the chief financial officer owned 17,148 shares of the company’s stock, valued at $7,691,049.48. The trade was a 5.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Glenn A. Carter sold 500 shares of the 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 directly owned 3,172 shares of the company’s stock, valued at $1,455,091.56. The trade was a 13.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,500 shares of company stock worth $1,605,605 over the last 90 days. Company insiders own 1.10% of the company’s stock.

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.