Clear Harbor Asset Management LLC Has $601,000 Holdings in Tyler Technologies, Inc. $TYL

Key Points

• Clear Harbor Asset Management LLC reduced its holdings in Tyler Technologies by 42.1% in Q2 2023, now owning 1,014 shares worth $601,000.
• Insider transactions showed significant sales, with CEO H Lynn Moore, Jr. selling 5,250 shares for over $3 million, reducing his ownership by 6.03%.
• Tyler Technologies recently reported earnings of $2.91 per share for Q2, surpassing analyst estimates of $2.78, showcasing a 10.2% annual revenue growth despite slightly missing revenue expectations.

Clear Harbor Asset Management LLC lessened its holdings in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 42.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,014 shares of the technology company's stock after selling 738 shares during the period. Clear Harbor Asset Management LLC's holdings in Tyler Technologies were worth $601,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. HighPoint Advisor Group LLC raised its holdings in shares of Tyler Technologies by 10.9% in the 1st quarter. HighPoint Advisor Group LLC now owns 711 shares of the technology company's stock worth $380,000 after acquiring an additional 70 shares during the last quarter. Exchange Traded Concepts LLC grew its position in Tyler Technologies by 12.6% in the 1st quarter. Exchange Traded Concepts LLC now owns 501 shares of the technology company's stock worth $291,000 after purchasing an additional 56 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Tyler Technologies by 0.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,133 shares of the technology company's stock worth $2,984,000 after purchasing an additional 31 shares in the last quarter. CX Institutional bought a new stake in Tyler Technologies in the 1st quarter worth about $176,000. Finally, Kestra Private Wealth Services LLC bought a new stake in Tyler Technologies in the 1st quarter worth about $358,000. Institutional investors and hedge funds own 93.30% of the company's stock.

Insiders Place Their Bets

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 Monday, August 11th. The shares were sold at an average price of $588.89, for a total transaction of $3,091,672.50. Following the completion of the sale, the chief executive officer directly owned 81,775 shares of the company's stock, valued at approximately $48,156,479.75. This represents a 6.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John S. Marr, Jr. sold 4,250 shares of the company's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $555.53, for a total transaction of $2,361,002.50. Following the completion of the transaction, the insider owned 6,983 shares of the company's stock, valued at approximately $3,879,265.99. The trade was a 37.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,500 shares of company stock valued at $11,148,043. Insiders own 1.10% of the company's stock.

Tyler Technologies Trading Up 0.5%

TYL stock opened at $536.83 on Tuesday. The firm's 50-day moving average price is $562.79 and its two-hundred day moving average price is $566.49. Tyler Technologies, Inc. has a 12-month low of $513.52 and a 12-month high of $661.31. The stock has a market capitalization of $23.22 billion, a price-to-earnings ratio of 76.69, a PEG ratio of 4.10 and a beta of 0.89.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its earnings results on Wednesday, July 30th. The technology company reported $2.91 earnings per share for the quarter, beating analysts' consensus estimates of $2.78 by $0.13. Tyler Technologies had a net margin of 13.66% and a return on equity of 10.34%. The firm had revenue of $584.01 million for the quarter, compared to analyst estimates of $587.59 million. During the same quarter in the previous year, the firm posted $2.40 EPS. The company's revenue for the quarter was up 10.2% compared to the same quarter last year. Tyler Technologies has set its FY 2025 guidance at 11.200-11.500 EPS. Equities analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Analyst Ratings Changes

TYL has been the subject of a number of recent analyst reports. DA Davidson set a $585.00 price objective on shares of Tyler Technologies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Barclays increased their target price on shares of Tyler Technologies from $695.00 to $715.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Finally, Cantor Fitzgerald began coverage on shares of Tyler Technologies in a research report on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 target price for the company. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $688.27.

About Tyler Technologies

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.

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