Geneva Capital Management LLC Has $127.60 Million Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Key Points

• Geneva Capital Management LLC increased its holdings in Tyler Technologies by 0.7%, owning 219,473 shares valued at approximately $127.6 million, which represents 2.4% of its portfolio.
• Several hedge funds, including LPL Financial LLC and Prudential PLC, also raised their stakes in Tyler Technologies during the fourth quarter, indicating strong institutional interest.
• Tyler Technologies reported a net margin of 13.66% and an EPS of $2.91 for its last quarter, surpassing analyst estimates, while analysts have forecast a price target range between $570 and $750 for the stock.

Geneva Capital Management LLC boosted its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 0.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 219,473 shares of the technology company's stock after acquiring an additional 1,570 shares during the quarter. Tyler Technologies makes up approximately 2.4% of Geneva Capital Management LLC's portfolio, making the stock its 12th largest holding. Geneva Capital Management LLC owned 0.51% of Tyler Technologies worth $127,599,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. HighPoint Advisor Group LLC raised its position in Tyler Technologies by 10.9% during the first quarter. HighPoint Advisor Group LLC now owns 711 shares of the technology company's stock valued at $380,000 after acquiring an additional 70 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of Tyler Technologies by 12.6% in the first quarter. Exchange Traded Concepts LLC now owns 501 shares of the technology company's stock valued at $291,000 after purchasing an additional 56 shares during the period. Adage Capital Partners GP L.L.C. raised its position in shares of Tyler Technologies by 20.7% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 42,500 shares of the technology company's stock valued at $24,507,000 after purchasing an additional 7,300 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in shares of Tyler Technologies by 0.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,133 shares of the technology company's stock valued at $2,984,000 after purchasing an additional 31 shares during the period. Finally, CX Institutional bought a new position in shares of Tyler Technologies in the first quarter valued at approximately $176,000. Institutional investors own 93.30% of the company's stock.

Insider Activity

In other Tyler Technologies news, insider John S. Marr, Jr. sold 4,000 shares of Tyler Technologies stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $568.66, for a total transaction of $2,274,640.00. Following the sale, the insider owned 6,983 shares in the company, valued at $3,970,952.78. The trade was a 36.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO H Lynn Moore, Jr. sold 5,250 shares of Tyler Technologies stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $580.77, for a total transaction of $3,049,042.50. Following the sale, the chief executive officer owned 81,775 shares in the company, valued at $47,492,466.75. This represents a 6.03% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,352 shares of company stock valued at $17,449,676. 1.10% of the stock is owned by insiders.

Tyler Technologies Stock Down 2.0%

TYL traded down $12.28 during trading on Thursday, reaching $599.49. 532,735 shares of the company's stock were exchanged, compared to its average volume of 294,727. Tyler Technologies, Inc. has a fifty-two week low of $513.52 and a fifty-two week high of $661.31. The business has a 50 day moving average price of $575.98 and a 200 day moving average price of $579.13. The company has a market capitalization of $25.93 billion, a P/E ratio of 85.64, a PEG ratio of 4.67 and a beta of 0.85.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.91 earnings per share for the quarter, topping 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 the consensus estimate of $587.59 million. During the same quarter in the previous year, the company earned $2.40 earnings per share. The business's revenue was up 10.2% compared to the same quarter last year. As a group, research analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on TYL shares. Wells Fargo & Company dropped their price target 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. Cantor Fitzgerald started 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 on the stock. Piper Sandler dropped their price target on shares of Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Wall Street Zen downgraded shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Finally, DA Davidson set a $585.00 price objective on shares of Tyler Technologies and gave the stock a "neutral" rating in a research note on Tuesday. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.