Barclays PLC Lowers Stock Position in Tyler Technologies, Inc. $TYL

Barclays PLC trimmed its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 26.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,466 shares of the technology company’s stock after selling 30,306 shares during the period. Barclays PLC owned about 0.20% of Tyler Technologies worth $44,712,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of TYL. Meridian Wealth Management LLC lifted its holdings in Tyler Technologies by 2.1% in the second quarter. Meridian Wealth Management LLC now owns 942 shares of the technology company’s stock valued at $558,000 after acquiring an additional 19 shares during the period. Cerity Partners LLC increased its holdings in shares of 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 purchasing an additional 19 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Tyler Technologies by 3.9% in the third quarter. Signaturefd LLC now owns 613 shares of the technology company’s stock valued at $321,000 after purchasing an additional 23 shares during the period. Citizens Financial Group Inc. RI boosted its holdings in Tyler Technologies by 5.8% during the third quarter. Citizens Financial Group Inc. RI now owns 435 shares of the technology company’s stock worth $228,000 after buying an additional 24 shares in the last quarter. Finally, CWM LLC grew its position in Tyler Technologies by 4.0% during the third quarter. CWM LLC now owns 647 shares of the technology company’s stock worth $339,000 after buying an additional 25 shares during the period. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Tyler Technologies news, CFO Brian K. Miller sold 1,000 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $458.65, for a total transaction of $458,650.00. Following the transaction, the chief financial officer owned 16,148 shares of the company’s stock, valued at $7,406,280.20. This represents a 5.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Andrew D. Teed acquired 1,600 shares of the firm’s stock in a transaction dated Monday, February 23rd. The shares were acquired at an average price of $309.91 per share, for a total transaction of $495,856.00. Following the acquisition, the director directly owned 5,118 shares of the company’s stock, valued at approximately $1,586,119.38. The trade was a 45.48% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold a total of 8,174 shares of company stock worth $3,228,243 in the last three months. 1.10% of the stock is currently owned by insiders.

Tyler Technologies Stock Down 1.9%

TYL opened at $367.43 on Tuesday. The firm has a market cap of $15.80 billion, a P/E ratio of 51.03, a PEG ratio of 2.52 and a beta of 0.90. The business’s fifty day simple moving average is $386.08 and its 200 day simple moving average is $458.29. Tyler Technologies, Inc. has a 52 week low of $283.71 and a 52 week high of $621.34.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, February 11th. The technology company reported $2.64 earnings per share (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 analysts’ expectations of $591.09 million. Tyler Technologies had a net margin of 13.53% and a return on equity of 10.42%. Tyler Technologies’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the company posted $2.43 earnings per share. As a group, equities analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TYL shares. BTIG Research decreased their price target on Tyler Technologies from $560.00 to $470.00 and set a “buy” rating on the stock in a research note on Monday, February 9th. 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. Stifel Nicolaus dropped their price target on Tyler Technologies from $550.00 to $400.00 and set a “buy” rating for the company in a research report on Friday, February 13th. The Goldman Sachs Group set a $420.00 price objective on shares of Tyler Technologies in a research report on Friday, February 13th. Finally, Robert W. Baird set a $440.00 target price on shares of Tyler Technologies in a report on Friday, February 13th. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $467.54.

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.