Tyler Technologies, Inc. (NYSE:TYL) Shares Sold by Mizuho Securities USA LLC

Key Points

• Mizuho Securities USA LLC reduced its stake in Tyler Technologies by 15.5% during the first quarter, holding 3,427 shares valued at approximately $1.99 million.
• Several hedge funds, including Cerity Partners LLC and Scotia Capital Inc., recently increased their holdings in Tyler Technologies, indicating strong institutional interest in the company.
• Tyler Technologies reported a quarterly earnings per share of $2.91, surpassing estimates, but had revenue of $584.01 million, falling short of analysts' expectations of $587.59 million.

Mizuho Securities USA LLC lowered its stake in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 15.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,427 shares of the technology company's stock after selling 629 shares during the quarter. Mizuho Securities USA LLC's holdings in Tyler Technologies were worth $1,992,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Retirement Wealth Solutions LLC acquired a new stake in shares of Tyler Technologies during the first quarter worth approximately $26,000. Mowery & Schoenfeld Wealth Management LLC grew its position in shares of Tyler Technologies by 820.0% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company's stock worth $27,000 after buying an additional 41 shares in the last quarter. Cornerstone Planning Group LLC grew its position in shares of Tyler Technologies by 221.1% during the first quarter. Cornerstone Planning Group LLC now owns 61 shares of the technology company's stock worth $35,000 after buying an additional 42 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Tyler Technologies during the first quarter worth approximately $38,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Tyler Technologies during the fourth quarter worth approximately $40,000. Institutional investors and hedge funds own 93.30% of the company's stock.

Analysts Set New Price Targets

TYL has been the topic of several research analyst reports. Barclays raised their price objective on Tyler Technologies from $695.00 to $715.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. DA Davidson set a $585.00 price objective on Tyler Technologies and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Wall Street Zen cut Tyler Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Cantor Fitzgerald initiated coverage on Tyler Technologies in a research note on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 price objective on the stock. Finally, 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 research note on Friday, April 25th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Tyler Technologies presently has an average rating of "Moderate Buy" and an average price target of $688.27.

Insiders Place Their Bets

In other news, Director Brenda A. Cline sold 2,500 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $577.41, for a total transaction of $1,443,525.00. Following the transaction, the director directly owned 2,519 shares of the company's stock, valued at approximately $1,454,495.79. This trade represents a 49.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John S. Marr, Jr. sold 4,000 shares of Tyler Technologies 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 directly owned 6,983 shares in the company, valued at approximately $3,970,952.78. The trade was a 36.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,602 shares of company stock valued at $17,747,049 over the last three months. 1.10% of the stock is currently owned by company insiders.

Tyler Technologies Stock Up 2.9%

TYL stock traded up $16.30 during mid-day trading on Wednesday, reaching $580.24. The company had a trading volume of 325,527 shares, compared to its average volume of 390,488. The stock has a market capitalization of $25.10 billion, a P/E ratio of 82.89, a P/E/G ratio of 4.33 and a beta of 0.85. Tyler Technologies, Inc. has a one year low of $513.52 and a one year high of $661.31. The stock's 50-day simple moving average is $577.14 and its two-hundred day simple moving average is $579.11.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.91 EPS for the quarter, beating analysts' consensus estimates of $2.78 by $0.13. The company had revenue of $584.01 million for the quarter, compared to analyst estimates of $587.59 million. Tyler Technologies had a return on equity of 10.34% and a net margin of 13.66%. The company's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company earned $2.40 earnings per share. On average, research analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS 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.