Argent Capital Management LLC Sells 73,290 Shares of Tyler Technologies, Inc. $TYL

Argent Capital Management LLC trimmed its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 71.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 29,466 shares of the technology company’s stock after selling 73,290 shares during the quarter. Argent Capital Management LLC owned 0.07% of Tyler Technologies worth $13,376,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. DLD Asset Management LP bought a new stake in shares of Tyler Technologies during the second quarter valued at about $5,780,190,000. Vanguard Group Inc. boosted its position in shares of Tyler Technologies by 4.2% in the third quarter. Vanguard Group Inc. now owns 5,805,036 shares of the technology company’s stock valued at $3,036,963,000 after acquiring an additional 234,916 shares during the period. State Street Corp grew its stake in Tyler Technologies by 1.8% during the third quarter. State Street Corp now owns 1,947,850 shares of the technology company’s stock valued at $1,019,037,000 after acquiring an additional 34,178 shares in the last quarter. Principal Financial Group Inc. grew its stake in 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 valued at $738,010,000 after acquiring an additional 144,612 shares in the last quarter. Finally, Norges Bank bought a new stake in Tyler Technologies during the 2nd quarter worth approximately $712,276,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Stock Performance

NYSE TYL opened at $350.78 on Friday. Tyler Technologies, Inc. has a 52-week low of $283.71 and a 52-week high of $621.34. The company has a fifty day moving average of $370.15 and a 200-day moving average of $448.09. The company has a market capitalization of $15.08 billion, a P/E ratio of 48.72, a P/E/G ratio of 2.31 and a beta of 0.90.

Tyler Technologies (NYSE:TYL) last released its 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). Tyler Technologies had a net margin of 13.53% and a return on equity of 10.42%. The firm had revenue of $575.18 million during the quarter, compared to the consensus estimate of $591.09 million. During the same period in the prior year, the company earned $2.43 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. As a group, analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Tyler Technologies in a report on Friday, January 9th. Robert W. Baird set a $440.00 price target on shares of Tyler Technologies in a report on Friday, February 13th. Needham & Company LLC reiterated a “buy” rating and issued a $750.00 price objective on shares of Tyler Technologies in a research report on Tuesday, February 3rd. Stifel Nicolaus reduced their target price 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. Finally, TD Cowen decreased their target price on Tyler Technologies from $600.00 to $500.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $467.54.

Insider Activity

In related news, Director Glenn A. Carter sold 1,624 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $349.14, for a total transaction of $567,003.36. Following the transaction, the director directly owned 5,298 shares of the company’s stock, valued at approximately $1,849,743.72. This trade represents a 23.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Daniel M. Pope sold 500 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $355.40, for a total value of $177,700.00. Following the completion of the sale, the director owned 2,871 shares of the company’s stock, valued at $1,020,353.40. The trade was a 14.83% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 7,298 shares of company stock worth $2,658,721. 1.10% of the stock is currently owned by insiders.

Tyler Technologies Company 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.