Aigen Investment Management LP Sells 1,734 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Key Points

• Aigen Investment Management LP reduced its holdings in Tyler Technologies by 82.4% during the first quarter, owning only 371 shares after selling 1,734 shares.
• Insiders sold a total of 28,102 shares of Tyler Technologies stock worth $16.3 million over the past three months, indicating significant insider activity.
• Wall Street analysts currently have a consensus rating of "Moderate Buy" for Tyler Technologies, with an average target price of $688.27.

Aigen Investment Management LP cut its stake in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 82.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 371 shares of the technology company's stock after selling 1,734 shares during the quarter. Aigen Investment Management LP's holdings in Tyler Technologies were worth $216,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of Tyler Technologies by 57,694.7% in the 1st quarter. GAMMA Investing LLC now owns 878,480 shares of the technology company's stock valued at $510,739,000 after purchasing an additional 876,960 shares during the period. Vanguard Group Inc. lifted its stake in shares of Tyler Technologies by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 5,459,163 shares of the technology company's stock valued at $3,173,903,000 after purchasing an additional 148,762 shares during the period. Marshall Wace LLP lifted its stake in shares of Tyler Technologies by 897.6% in the 4th quarter. Marshall Wace LLP now owns 112,210 shares of the technology company's stock valued at $64,705,000 after purchasing an additional 100,962 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Tyler Technologies by 52.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 283,449 shares of the technology company's stock valued at $163,448,000 after purchasing an additional 97,718 shares during the period. Finally, TCW Group Inc. lifted its stake in shares of Tyler Technologies by 144.0% in the 1st quarter. TCW Group Inc. now owns 152,775 shares of the technology company's stock valued at $88,822,000 after purchasing an additional 90,172 shares during the period. 93.30% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tyler Technologies

In other news, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $573.60, for a total value of $215,100.00. Following the completion of the transaction, the insider directly owned 247 shares of the company's stock, valued at $141,679.20. This trade represents a 60.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian K. Miller sold 1,200 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $580.72, for a total value of $696,864.00. Following the completion of the transaction, the chief financial officer directly owned 13,772 shares of the company's stock, valued at $7,997,675.84. The trade was a 8.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,102 shares of company stock valued at $16,303,524. Corporate insiders own 1.10% of the company's stock.

Tyler Technologies Stock Performance

NYSE:TYL traded down $0.51 during trading hours on Friday, reaching $572.73. The stock had a trading volume of 279,040 shares, compared to its average volume of 388,443. The stock has a 50 day simple moving average of $577.04 and a 200 day simple moving average of $578.34. Tyler Technologies, Inc. has a 12-month low of $513.52 and a 12-month high of $661.31. The stock has a market cap of $24.78 billion, a P/E ratio of 81.82, a price-to-earnings-growth ratio of 4.39 and a beta of 0.85.

Tyler Technologies (NYSE:TYL - Get Free Report) last released its earnings results on Wednesday, July 30th. The technology company reported $2.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.78 by $0.13. Tyler Technologies had a return on equity of 10.34% and a net margin of 13.66%. The business had revenue of $584.01 million during the quarter, compared to the consensus estimate of $587.59 million. During the same period last year, the business posted $2.40 earnings per share. The business's revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TYL. Wells Fargo & Company dropped their price objective on Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. DA Davidson set a $585.00 price target on Tyler Technologies and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Robert W. Baird dropped their price target on Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Wall Street Zen lowered Tyler Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Finally, Piper Sandler decreased their price objective on Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Tyler Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $688.27.

Tyler Technologies Company Profile

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. It operates in two segments, Enterprise Software and Platform Technologies. The company offers platform and transformative technology solutions, including cybersecurity for government agencies; data and insights solutions; digital solutions that helps workers and policymakers to share, communicate, and leverage data; payments solutions, such as billing, presentment, merchant onboarding, collections, reconciliation, and disbursements; platform technologies, an application development platform that enables government workers to build solutions and applications; and outdoor recreation solutions, including campsite reservations, activity registrations, licensing sales and renewals, and real-time data for conservation and park management.