NBW Capital LLC Sells 3,300 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Key Points

• NBW Capital LLC has reduced its holdings in Tyler Technologies by 23.0%, now owning 11,034 shares valued at approximately $6.42 million.
• Several hedge funds have recently made moves, including Retirement Wealth Solutions acquiring a new position worth $26,000 and Mowery & Schoenfeld Wealth Management increasing its stake by 820.0%.
• Tyler Technologies reported earnings of $2.91 per share, exceeding predictions, and its stock has a current average rating of "Moderate Buy" with a consensus target price of $688.27.

NBW Capital LLC decreased its position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 23.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,034 shares of the technology company's stock after selling 3,300 shares during the quarter. Tyler Technologies accounts for approximately 1.4% of NBW Capital LLC's portfolio, making the stock its 23rd largest position. NBW Capital LLC's holdings in Tyler Technologies were worth $6,415,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Retirement Wealth Solutions LLC purchased a new stake in shares of Tyler Technologies in the first quarter valued at about $26,000. Mowery & Schoenfeld Wealth Management LLC grew its position in 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 during the period. Cornerstone Planning Group LLC grew its position in 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 during the period. Kapitalo Investimentos Ltda acquired a new position in Tyler Technologies during the fourth quarter worth about $40,000. Finally, Whipplewood Advisors LLC grew its position in Tyler Technologies by 255.0% during the first quarter. Whipplewood Advisors LLC now owns 71 shares of the technology company's stock worth $41,000 after buying an additional 51 shares during the period. Institutional investors and hedge funds own 93.30% of the company's stock.

Insiders Place Their Bets

In related news, CFO Brian K. Miller sold 1,200 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $580.72, for a total transaction of $696,864.00. Following the transaction, the chief financial officer directly owned 13,772 shares of the company's stock, valued at approximately $7,997,675.84. The trade was a 8.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John S. Marr, Jr. sold 4,000 shares of Tyler Technologies stock in a transaction that occurred 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 completion of the sale, the insider owned 6,983 shares of the company's stock, valued at $3,970,952.78. This trade represents a 36.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,352 shares of company stock worth $14,655,376. Company insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on TYL. Piper Sandler lowered their target price 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. Needham & Company LLC reaffirmed a "buy" rating and issued a $750.00 price target on shares of Tyler Technologies in a report on Tuesday, May 13th. Robert W. Baird reduced their price target on shares of Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Cantor Fitzgerald assumed coverage on shares of Tyler Technologies in a report on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 price target on the stock. Finally, Wells Fargo & Company reduced 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 report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $688.27.

Tyler Technologies Stock Performance

Shares of NYSE TYL traded down $6.20 during midday trading on Friday, hitting $593.99. The company's stock had a trading volume of 252,619 shares, compared to its average volume of 390,199. Tyler Technologies, Inc. has a 1-year low of $513.52 and a 1-year high of $661.31. The firm's fifty day moving average price is $576.89 and its 200-day moving average price is $579.36. The firm has a market cap of $25.70 billion, a P/E ratio of 84.86, a P/E/G ratio of 4.56 and a beta of 0.85.

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

Tyler Technologies 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.