Mesirow Financial Investment Management Inc. Sells 8,647 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Key Points

• Mesirow Financial Investment Management Inc. has reduced its stake in Tyler Technologies by 67.9% during the first quarter, now holding shares worth $2.37 million.
• Other institutional investors have significantly increased their stakes in Tyler Technologies, with GAMMA Investing LLC raising its position by 57,694.7% and now owning 878,480 shares.
• Tyler Technologies has received mixed ratings from analysts, with price targets ranging from $570.00 to $700.00, resulting in a consensus rating of "Moderate Buy".

Mesirow Financial Investment Management Inc. cut its stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 67.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,079 shares of the technology company's stock after selling 8,647 shares during the period. Mesirow Financial Investment Management Inc.'s holdings in Tyler Technologies were worth $2,371,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. HighPoint Advisor Group LLC grew its position in Tyler Technologies by 10.9% during the 1st quarter. HighPoint Advisor Group LLC now owns 711 shares of the technology company's stock worth $380,000 after acquiring an additional 70 shares during the last quarter. Exchange Traded Concepts LLC grew its position in Tyler Technologies by 12.6% during the 1st quarter. Exchange Traded Concepts LLC now owns 501 shares of the technology company's stock worth $291,000 after acquiring an additional 56 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in Tyler Technologies by 20.7% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 42,500 shares of the technology company's stock worth $24,507,000 after buying an additional 7,300 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Tyler Technologies by 0.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,133 shares of the technology company's stock worth $2,984,000 after buying an additional 31 shares in the last quarter. Finally, CX Institutional acquired a new position in Tyler Technologies during the 1st quarter worth $176,000. 93.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. DA Davidson reduced their price objective on Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. Piper Sandler reduced their price objective on Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Barclays upped their price objective on Tyler Technologies from $695.00 to $715.00 and gave the stock an "overweight" rating in a report on Thursday. Robert W. Baird reduced their price objective on Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Finally, 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. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $686.91.

Tyler Technologies Price Performance

Shares of TYL stock traded down $0.67 during trading hours on Friday, reaching $583.89. The company had a trading volume of 594,905 shares, compared to its average volume of 342,914. The company has a 50 day moving average of $573.84 and a 200 day moving average of $578.39. The firm has a market cap of $25.18 billion, a price-to-earnings ratio of 83.41, a P/E/G ratio of 4.56 and a beta of 0.84. Tyler Technologies, Inc. has a 1-year low of $513.52 and a 1-year high of $661.31.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.91 EPS for the quarter, topping the consensus estimate of $2.78 by $0.13. The business had revenue of $584.01 million for the quarter, compared to the consensus estimate of $587.59 million. Tyler Technologies had a return on equity of 10.34% and a net margin of 13.66%. The firm's revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.40 EPS. As a group, sell-side analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Insider Buying and Selling at Tyler Technologies

In related news, CFO Brian K. Miller sold 1,200 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $580.72, for a total transaction of $696,864.00. Following the sale, the chief financial officer owned 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 filing with the SEC, which can be accessed through this link. Also, insider John S. Marr, Jr. sold 4,000 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $568.66, for a total value of $2,274,640.00. Following the transaction, the insider owned 6,983 shares of the company's stock, valued at approximately $3,970,952.78. This trade represents a 36.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,135 shares of company stock worth $14,976,480 in the last three months. 1.10% of the stock is owned by insiders.

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.