Cypress Funds LLC Sells 10,802 Shares of Tyler Technologies, Inc. $TYL

Key Points

• Cypress Funds reduced its stake in Tyler Technologies by 20.2%, selling 10,802 shares and now owns 42,787 shares worth approximately $19.42 million, making TYL its 13th largest holding (3.2% of the fund).
• Insider activity was mixed: COO Jeffrey Puckett sold 5,174 shares for about $1.91 million while director Andrew D. Teed bought 1,600 shares; insiders were net sellers of 7,298 shares over the quarter and now own about 1.10% of the stock.
• Tyler slightly missed quarterly estimates (EPS $2.64 vs. $2.71 expected; revenue $575.2M vs. $591.1M), the stock has a market cap of $14.36 billion, and analysts maintain a consensus rating of “Moderate Buy” with an average target of $467.54.

Cypress Funds LLC lessened its position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 20.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 42,787 shares of the technology company's stock after selling 10,802 shares during the period. Tyler Technologies comprises approximately 3.2% of Cypress Funds LLC's holdings, making the stock its 13th biggest holding. Cypress Funds LLC owned about 0.10% of Tyler Technologies worth $19,423,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Root Financial Partners LLC bought a new position in Tyler Technologies during the 3rd quarter valued at about $28,000. Twin Peaks Wealth Advisors LLC bought a new stake in Tyler Technologies during the second quarter worth about $32,000. Advisors Asset Management Inc. acquired a new stake in shares of Tyler Technologies during the first quarter worth approximately $38,000. Geneos Wealth Management Inc. raised its stake in shares of Tyler Technologies by 137.9% in the first quarter. Geneos Wealth Management Inc. now owns 69 shares of the technology company's stock valued at $40,000 after acquiring an additional 40 shares during the last quarter. Finally, Quent Capital LLC bought a new position in shares of Tyler Technologies in the third quarter valued at approximately $49,000. Institutional investors own 93.30% of the company's stock.

Insider Buying and Selling at Tyler Technologies

In related news, COO Jeffrey David Puckett sold 5,174 shares of the company's stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $369.93, for a total value of $1,914,017.82. Following the completion of the sale, the chief operating officer owned 7,754 shares in the company, valued at approximately $2,868,437.22. This represents a 40.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Andrew D. Teed bought 1,600 shares of the business's stock in a transaction on Monday, February 23rd. The stock was bought at an average cost of $309.91 per share, for a total transaction of $495,856.00. Following the purchase, the director directly owned 5,118 shares of the company's stock, valued at approximately $1,586,119.38. This trade represents a 45.48% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold 7,298 shares of company stock valued at $2,658,721 over the last quarter. 1.10% of the stock is owned by corporate insiders.

Tyler Technologies Price Performance

TYL opened at $338.35 on Friday. The firm has a 50 day simple moving average of $347.88 and a 200 day simple moving average of $431.76. Tyler Technologies, Inc. has a fifty-two week low of $283.71 and a fifty-two week high of $621.34. The company has a market cap of $14.36 billion, a price-to-earnings ratio of 46.99, a price-to-earnings-growth ratio of 2.27 and a beta of 0.92.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The technology company reported $2.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.71 by ($0.07). The business had revenue of $575.18 million during the quarter, compared to the consensus estimate of $591.09 million. Tyler Technologies had a net margin of 13.53% and a return on equity of 10.42%. Tyler Technologies's revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.43 earnings per share. As a group, analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TYL shares. Wells Fargo & Company decreased their price target on Tyler Technologies from $420.00 to $335.00 and set an "equal weight" rating on the stock in a research report on Friday, February 13th. TD Cowen reduced their price objective on Tyler Technologies from $600.00 to $500.00 and set a "buy" rating on the stock in a research note on Friday, February 13th. The Goldman Sachs Group set a $420.00 target price on Tyler Technologies in a report on Friday, February 13th. Needham & Company LLC restated a "buy" rating and issued a $750.00 target price on shares of Tyler Technologies in a research note on Tuesday, February 3rd. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tyler Technologies in a report on Friday, January 9th. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Tyler Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $467.54.

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.

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