Tyler Technologies, Inc. $TYL Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 65.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,836 shares of the technology company’s stock after selling 14,737 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Tyler Technologies were worth $3,557,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in TYL. Advisors Asset Management Inc. purchased a new position in shares of Tyler Technologies during the 1st quarter worth about $38,000. NewEdge Advisors LLC grew its stake in shares of 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 buying an additional 38 shares during the period. Woodline Partners LP purchased a new stake in shares of Tyler Technologies during the 1st quarter valued at $2,102,000. Geneos Wealth Management Inc. increased its holdings in shares of Tyler Technologies by 137.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 69 shares of the technology company’s stock worth $40,000 after buying an additional 40 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Tyler Technologies by 12.5% during the 2nd quarter. American Century Companies Inc. now owns 621 shares of the technology company’s stock worth $368,000 after buying an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Trading Down 0.0%

Shares of Tyler Technologies stock opened at $333.92 on Monday. Tyler Technologies, Inc. has a twelve month low of $283.71 and a twelve month high of $621.34. The stock has a market cap of $14.18 billion, a price-to-earnings ratio of 46.38, a price-to-earnings-growth ratio of 2.24 and a beta of 0.90. The company has a fifty day moving average price of $357.57 and a 200 day moving average price of $437.46.

Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, February 11th. The technology company reported $2.64 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.07). The company had revenue of $575.18 million during the quarter, compared to analysts’ expectations of $591.09 million. Tyler Technologies had a return on equity of 10.42% and a net margin of 13.53%.Tyler Technologies’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.43 EPS. Analysts forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. DA Davidson reiterated a “buy” rating and issued a $460.00 target price on shares of Tyler Technologies in a report on Tuesday, February 17th. Needham & Company LLC restated a “buy” rating and set a $750.00 price target on shares of Tyler Technologies in a research note on Tuesday, February 3rd. Piper Sandler restated an “overweight” rating and issued a $543.00 price objective (down from $671.00) on shares of Tyler Technologies in a report on Friday, February 13th. BTIG Research reduced their price objective 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. Finally, The Goldman Sachs Group set a $420.00 target price on Tyler Technologies in a report on Friday, February 13th. Twelve investment 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $467.54.

Insider Transactions at Tyler Technologies

In other news, insider Abigail Marshall Diaz-Pedrosa bought 610 shares of the firm’s stock in a transaction dated Friday, February 20th. The stock was acquired at an average cost of $325.08 per share, for a total transaction of $198,298.80. Following the completion of the purchase, the insider owned 1,123 shares of the company’s stock, valued at $365,064.84. This trade represents a 118.91% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel M. Pope sold 500 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $355.40, for a total transaction of $177,700.00. Following the sale, the director directly owned 2,871 shares of the company’s stock, valued at approximately $1,020,353.40. The trade was a 14.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 7,298 shares of company stock worth $2,658,721 over the last 90 days. 1.10% of the stock is owned by corporate insiders.

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.