11 Capital Partners LP Reduces Stock Holdings in Tyler Technologies, Inc. $TYL

11 Capital Partners LP lessened its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 7.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,077 shares of the technology company’s stock after selling 2,292 shares during the quarter. Tyler Technologies comprises about 4.2% of 11 Capital Partners LP’s holdings, making the stock its 15th biggest holding. 11 Capital Partners LP owned 0.07% of Tyler Technologies worth $14,689,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. General American Investors Co. Inc. boosted its position in shares of Tyler Technologies by 7.2% in the 3rd quarter. General American Investors Co. Inc. now owns 44,381 shares of the technology company’s stock valued at $23,218,000 after purchasing an additional 3,000 shares during the period. Lazard Freres Gestion S.A.S. boosted its holdings 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 valued at $2,615,000 after acquiring an additional 3,000 shares during the period. ICICI Prudential Asset Management Co Ltd purchased a new position in shares of Tyler Technologies during the third quarter worth approximately $2,111,000. Principal Financial Group Inc. grew its position in shares of Tyler Technologies by 11.4% during the third 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 during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Tyler Technologies by 4.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 172,932 shares of the technology company’s stock valued at $90,471,000 after purchasing an additional 8,126 shares during the last quarter. 93.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Jeffrey David Puckett sold 5,174 shares of Tyler Technologies stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $369.93, for a total transaction of $1,914,017.82. Following the completion of the sale, the chief operating officer directly owned 7,754 shares in the company, valued at approximately $2,868,437.22. This trade represents a 40.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian K. Miller sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $448.51, for a total value of $448,510.00. Following the sale, the chief financial officer directly owned 17,148 shares in the company, valued at $7,691,049.48. This trade represents a 5.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 6,674 shares of company stock valued at $2,540,228 in the last quarter. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TYL. Oppenheimer decreased their price target on shares of Tyler Technologies from $510.00 to $450.00 and set an “outperform” rating for the company in a research note on Friday, February 13th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $325.00 target price on shares of Tyler Technologies in a report on Friday, February 13th. Barclays lowered their price target on Tyler Technologies from $715.00 to $410.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. TD Cowen reduced their price objective on Tyler Technologies from $600.00 to $500.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $750.00 price objective on shares of Tyler Technologies in a research report on Tuesday, February 3rd. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $467.54.

Tyler Technologies Trading Down 0.8%

Shares of TYL stock opened at $345.59 on Friday. The stock has a 50 day simple moving average of $379.75 and a 200-day simple moving average of $455.31. Tyler Technologies, Inc. has a 12-month low of $283.71 and a 12-month high of $621.34. The company has a market cap of $14.86 billion, a price-to-earnings ratio of 48.00, a price-to-earnings-growth ratio of 2.34 and a beta of 0.90.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, February 11th. The technology company reported $2.64 earnings per share (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 business had revenue of $575.18 million during the quarter, compared to analysts’ expectations of $591.09 million. During the same quarter in the previous year, the company posted $2.43 EPS. The company’s revenue was up 6.3% compared to the same quarter last year. On average, equities analysts forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal 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.