Allianz Asset Management GmbH Cuts Stock Position in Tyler Technologies, Inc. (NYSE:TYL)

Allianz Asset Management GmbH lessened its position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 90.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,716 shares of the technology company's stock after selling 33,938 shares during the quarter. Allianz Asset Management GmbH's holdings in Tyler Technologies were worth $2,160,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky increased its position in Tyler Technologies by 3.0% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 3,258 shares of the technology company's stock valued at $1,894,000 after purchasing an additional 96 shares during the period. OneAscent Financial Services LLC increased its position in Tyler Technologies by 114.1% during the 1st quarter. OneAscent Financial Services LLC now owns 1,848 shares of the technology company's stock valued at $1,076,000 after purchasing an additional 985 shares during the period. Mowery & Schoenfeld Wealth Management LLC increased its position in Tyler Technologies by 820.0% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company's stock valued at $27,000 after purchasing an additional 41 shares during the period. Kestra Private Wealth Services LLC purchased a new position in Tyler Technologies during the 1st quarter valued at about $358,000. Finally, Private Advisor Group LLC increased its position in Tyler Technologies by 1.1% during the 1st quarter. Private Advisor Group LLC now owns 2,887 shares of the technology company's stock valued at $1,678,000 after purchasing an additional 30 shares during the period. Institutional investors own 93.30% of the company's stock.

Tyler Technologies Stock Performance

TYL stock traded down $0.67 during trading on Friday, reaching $583.89. The company had a trading volume of 594,905 shares, compared to its average volume of 342,914. The firm has a 50-day simple moving average of $573.84 and a 200-day simple moving average of $578.39. The company has a market cap of $25.26 billion, a price-to-earnings ratio of 83.41, a price-to-earnings-growth ratio of 4.56 and a beta of 0.85. Tyler Technologies, Inc. has a twelve month low of $513.52 and a twelve month high of $661.31.

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on TYL shares. Wells Fargo & Company cut their target price on shares of Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Wall Street Zen downgraded shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. DA Davidson cut their price objective on shares of Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Cantor Fitzgerald initiated coverage on shares of Tyler Technologies in a research report on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 price objective on the stock. Finally, Robert W. Baird lowered their target price on shares of Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $686.91.

Insider Buying and Selling at Tyler Technologies

In other news, CFO Brian K. Miller sold 1,200 shares of Tyler Technologies stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $580.72, for a total transaction 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO H Lynn Moore, Jr. sold 5,250 shares of Tyler Technologies stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $585.18, for a total transaction of $3,072,195.00. Following the transaction, the chief executive officer directly owned 81,775 shares of the company's stock, valued at approximately $47,853,094.50. This trade represents a 6.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,135 shares of company stock worth $14,976,480. Corporate insiders own 1.10% of the company's stock.

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.