Johnson Investment Counsel Inc. Reduces Stake in Tyler Technologies, Inc. (NYSE:TYL)

Johnson Investment Counsel Inc. decreased its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 4.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,427 shares of the technology company's stock after selling 685 shares during the quarter. Johnson Investment Counsel Inc.'s holdings in Tyler Technologies were worth $7,806,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TYL. Integrated Wealth Concepts LLC increased its stake in Tyler Technologies by 2.3% in the 4th quarter. Integrated Wealth Concepts LLC now owns 786 shares of the technology company's stock valued at $453,000 after buying an additional 18 shares during the period. AdvisorNet Financial Inc lifted its stake in shares of Tyler Technologies by 7.0% in the 1st quarter. AdvisorNet Financial Inc now owns 291 shares of the technology company's stock worth $169,000 after acquiring an additional 19 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in shares of Tyler Technologies by 0.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,668 shares of the technology company's stock valued at $2,115,000 after acquiring an additional 20 shares in the last quarter. Kensington Investment Counsel LLC increased its stake in shares of Tyler Technologies by 0.8% during the fourth quarter. Kensington Investment Counsel LLC now owns 2,496 shares of the technology company's stock worth $1,439,000 after acquiring an additional 20 shares during the period. Finally, Benjamin Edwards Inc. increased its stake in shares of Tyler Technologies by 1.5% during the fourth quarter. Benjamin Edwards Inc. now owns 1,526 shares of the technology company's stock worth $880,000 after acquiring an additional 22 shares during the period. 93.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Brian K. Miller sold 1,200 shares of the firm's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $580.72, for a total value of $696,864.00. Following the transaction, the chief financial officer now owns 13,772 shares of the company's stock, valued at approximately $7,997,675.84. This trade represents a 8.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daniel M. Pope sold 365 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $550.00, for a total transaction of $200,750.00. Following the completion of the sale, the director now directly owns 2,853 shares of the company's stock, valued at $1,569,150. This trade represents a 11.34% decrease in their position. The disclosure for this sale can be found here. Over the last 90 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 Stock Down 2.0%

NYSE TYL opened at $569.14 on Friday. Tyler Technologies, Inc. has a fifty-two week low of $469.66 and a fifty-two week high of $661.31. The business has a fifty day moving average of $566.15 and a 200-day moving average of $583.48. The stock has a market cap of $24.54 billion, a price-to-earnings ratio of 85.71, a price-to-earnings-growth ratio of 4.44 and a beta of 0.84.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 EPS for the quarter, topping analysts' consensus estimates of $2.56 by $0.22. The firm had revenue of $562.43 million during the quarter, compared to analysts' expectations of $556.45 million. Tyler Technologies had a return on equity of 10.29% and a net margin of 13.23%. The firm's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.20 EPS. As a group, analysts anticipate that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on TYL. Wall Street Zen lowered Tyler Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Needham & Company LLC reaffirmed a "buy" rating and set a $750.00 price objective on shares of Tyler Technologies in a report on Tuesday, May 13th. Robert W. Baird reduced their target price on Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Wells Fargo & Company reduced their price target on shares of Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Finally, Piper Sandler lowered their price target on Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Tyler Technologies presently has an average rating of "Moderate Buy" and an average price target of $680.50.

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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