Blair William & Co. IL Cuts Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Key Points

• Blair William & Co. IL decreased its holdings in Tyler Technologies by 3.0%, selling 12,947 shares, and now owns 420,874 shares valued at approximately $244.7 million.
• Various institutional investors have made recent adjustments to their positions in Tyler Technologies, with 93.30% of the stock owned by hedge funds and other institutional investors.
• Tyler Technologies' latest quarterly earnings surpassed expectations with $2.91 earnings per share, and revenue reported at $584.01 million, indicating a 10.2% year-over-year increase.

Blair William & Co. IL trimmed its position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 3.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 420,874 shares of the technology company's stock after selling 12,947 shares during the quarter. Blair William & Co. IL owned 0.98% of Tyler Technologies worth $244,692,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of TYL. Retirement Wealth Solutions LLC purchased a new stake in Tyler Technologies during the first quarter valued at $26,000. Mowery & Schoenfeld Wealth Management LLC boosted its stake in shares of Tyler Technologies by 820.0% during the first 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. Cornerstone Planning Group LLC grew its position in shares of Tyler Technologies by 221.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 61 shares of the technology company's stock worth $35,000 after buying an additional 42 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in Tyler Technologies during the fourth quarter worth $40,000. Finally, Whipplewood Advisors LLC boosted its stake in Tyler Technologies by 255.0% in the first quarter. Whipplewood Advisors LLC now owns 71 shares of the technology company's stock valued at $41,000 after acquiring an additional 51 shares in the last quarter. 93.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on TYL shares. Piper Sandler dropped their price objective on Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Robert W. Baird cut their price objective on Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. DA Davidson set a $585.00 target price on shares of Tyler Technologies and gave the stock a "neutral" rating in a research note on Tuesday. Cantor Fitzgerald began coverage on shares of Tyler Technologies in a research report on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 price target for the company. Finally, Barclays raised their target price on Tyler Technologies from $695.00 to $715.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $688.27.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 5,250 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $580.77, for a total value of $3,049,042.50. Following the completion of the transaction, the chief executive officer directly owned 81,775 shares in the company, valued at $47,492,466.75. This represents a 6.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John S. Marr, Jr. sold 5,000 shares of the business's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $558.86, for a total value of $2,794,300.00. Following the completion of the sale, the insider owned 6,983 shares in the company, valued at $3,902,519.38. This represents a 41.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,352 shares of company stock valued at $17,449,676 over the last quarter. Company insiders own 1.10% of the company's stock.

Tyler Technologies Stock Down 3.0%

TYL traded down $18.57 during midday trading on Thursday, hitting $593.19. 242,896 shares of the company were exchanged, compared to its average volume of 292,675. The firm has a market capitalization of $25.66 billion, a P/E ratio of 84.74, a P/E/G ratio of 4.67 and a beta of 0.85. The firm's 50 day moving average price is $575.98 and its 200-day moving average price is $579.13. Tyler Technologies, Inc. has a 1-year low of $513.52 and a 1-year high of $661.31.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.91 EPS for the quarter, beating analysts' consensus estimates of $2.78 by $0.13. The firm had revenue of $584.01 million for the quarter, compared to analysts' expectations of $587.59 million. Tyler Technologies had a return on equity of 10.34% and a net margin of 13.66%. The business's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.40 EPS. On average, sell-side analysts predict that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

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.