HB Wealth Management LLC Sells 3,789 Shares of Tyler Technologies, Inc. $TYL

Key Points

• HB Wealth Management cut its stake in Tyler Technologies by 48.3%, selling 3,789 shares in Q4 and retaining 4,054 shares valued at about $1.84 million.
• Director Andrew D. Teed bought 1,600 shares at $309.91 while COO Jeffrey D. Puckett sold 5,174 shares at $369.93; insiders were net sellers of 7,298 shares (~$2.66M) last quarter and now own 1.10% of the stock.
• Tyler missed quarterly expectations (EPS $2.64 vs. $2.71 expected; revenue $575.2M vs. $591.1M), trades at a P/E of ~47.5 with a $14.5B market cap, and carries a consensus "Moderate Buy" rating with an average price target of $463.69.

HB Wealth Management LLC decreased its position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 48.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,054 shares of the technology company's stock after selling 3,789 shares during the quarter. HB Wealth Management LLC's holdings in Tyler Technologies were worth $1,840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Tyler Technologies by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 5,805,036 shares of the technology company's stock worth $3,036,963,000 after acquiring an additional 234,916 shares during the last quarter. State Street Corp increased its stake in Tyler Technologies by 1.8% in the 3rd quarter. State Street Corp now owns 1,947,850 shares of the technology company's stock worth $1,019,037,000 after acquiring an additional 34,178 shares during the last quarter. Principal Financial Group Inc. increased its stake in Tyler Technologies by 11.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,410,640 shares of the technology company's stock worth $738,010,000 after acquiring an additional 144,612 shares during the last quarter. Van ECK Associates Corp increased its stake in Tyler Technologies by 55.1% in the 3rd quarter. Van ECK Associates Corp now owns 850,103 shares of the technology company's stock worth $444,740,000 after acquiring an additional 301,885 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Tyler Technologies by 72.5% in the 3rd quarter. Wellington Management Group LLP now owns 600,776 shares of the technology company's stock worth $314,302,000 after acquiring an additional 252,488 shares during the last quarter. Institutional investors own 93.30% of the company's stock.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, Director Andrew D. Teed acquired 1,600 shares of the company's stock in a transaction that occurred on Monday, February 23rd. The stock was bought at an average price of $309.91 per share, for a total transaction of $495,856.00. Following the acquisition, the director directly owned 5,118 shares in the company, valued at $1,586,119.38. The trade was a 45.48% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jeffrey David Puckett sold 5,174 shares of the business's stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $369.93, for a total value of $1,914,017.82. Following the transaction, the chief operating officer owned 7,754 shares of the company's stock, valued at approximately $2,868,437.22. The trade was a 40.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 7,298 shares of company stock worth $2,658,721 over the last quarter. 1.10% of the stock is owned by insiders.

Tyler Technologies Stock Performance

Shares of Tyler Technologies stock opened at $341.70 on Friday. The stock has a market cap of $14.51 billion, a price-to-earnings ratio of 47.46, a price-to-earnings-growth ratio of 2.25 and a beta of 0.92. The stock has a 50 day moving average price of $340.02 and a 200-day moving average price of $411.70. Tyler Technologies, Inc. has a one year low of $283.71 and a one year high of $621.34.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its earnings results on Wednesday, February 11th. The technology company reported $2.64 EPS for the quarter, missing analysts' consensus estimates of $2.71 by ($0.07). The company had revenue of $575.18 million during the quarter, compared to analysts' expectations of $591.09 million. Tyler Technologies had a return on equity of 10.42% and a net margin of 13.53%.Tyler Technologies's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.43 EPS. Sell-side analysts predict that Tyler Technologies, Inc. will post 9.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TYL. Robert W. Baird set a $440.00 target price on Tyler Technologies in a report on Friday, February 13th. Oppenheimer dropped their target price on Tyler Technologies from $510.00 to $450.00 and set an "outperform" rating for the company in a report on Friday, February 13th. Barclays dropped their target price on Tyler Technologies from $715.00 to $410.00 and set an "overweight" rating for the company in a report on Friday, February 13th. Wells Fargo & Company dropped their target price on Tyler Technologies from $420.00 to $335.00 and set an "equal weight" rating for the company in a report on Friday, February 13th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $750.00 target price on shares of Tyler Technologies in a report on Tuesday, February 3rd. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Tyler Technologies currently has an average rating of "Moderate Buy" and an average price target of $463.69.

Tyler Technologies Company 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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