Envestnet Asset Management Inc. Increases Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Envestnet Asset Management Inc. raised its position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 6.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 162,541 shares of the technology company's stock after purchasing an additional 10,430 shares during the quarter. Envestnet Asset Management Inc. owned 0.38% of Tyler Technologies worth $94,500,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in TYL. Norges Bank purchased a new stake in Tyler Technologies during the 4th quarter valued at about $528,465,000. GAMMA Investing LLC grew its stake in Tyler Technologies by 57,694.7% during 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 last quarter. Marshall Wace LLP grew its stake in Tyler Technologies by 897.6% during 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 last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Tyler Technologies by 52.6% during 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 last quarter. Finally, Franklin Resources Inc. grew its stake in Tyler Technologies by 7.9% during the 4th quarter. Franklin Resources Inc. now owns 984,615 shares of the technology company's stock valued at $567,768,000 after purchasing an additional 71,869 shares during the last quarter. Hedge funds and other institutional investors own 93.30% of the company's stock.

Analyst Ratings Changes

TYL has been the topic of several research analyst reports. Needham & Company LLC reiterated a "buy" rating and set a $750.00 price target on shares of Tyler Technologies in a research note on Tuesday, May 13th. Robert W. Baird dropped their target price on Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Barclays dropped their target price on Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. DA Davidson dropped their target price on Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. Finally, Cantor Fitzgerald started coverage on Tyler Technologies in a report on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 target price on the stock. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Tyler Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $680.50.

Insider Transactions at Tyler Technologies

In other news, Director Brenda A. Cline sold 2,500 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $577.41, for a total value of $1,443,525.00. Following the transaction, the director owned 2,519 shares in the company, valued at $1,454,495.79. This trade represents a 49.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brian K. Miller sold 3,333 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $568.46, for a total value of $1,894,677.18. Following the completion of the transaction, the chief financial officer owned 11,231 shares in the company, valued at approximately $6,384,374.26. This trade represents a 22.89% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,500 shares of company stock worth $15,177,230. 1.10% of the stock is owned by insiders.

Tyler Technologies Trading Down 3.1%

Shares of TYL stock opened at $561.29 on Friday. The company has a market capitalization of $24.21 billion, a P/E ratio of 84.53, a P/E/G ratio of 4.52 and a beta of 0.84. The business's 50 day moving average is $574.79 and its two-hundred day moving average is $580.20. Tyler Technologies, Inc. has a 12-month low of $509.19 and a 12-month high of $661.31.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.56 by $0.22. The company had revenue of $562.43 million for the quarter, compared to the consensus estimate of $556.45 million. Tyler Technologies had a return on equity of 10.29% and a net margin of 13.23%. Tyler Technologies's revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.20 earnings per share. On average, research 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.

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