Nuveen LLC Takes Position in Tyler Technologies, Inc. (NYSE:TYL)

Key Points

• Nuveen LLC made a new investment of approximately $57.11 million in Tyler Technologies, acquiring 98,227 shares and owning about 0.23% of the company.
• Tyler Technologies reported $2.91 earnings per share for the last quarter, beating analysts' estimates by $0.13, with a year-over-year revenue increase of 10.2%.
• Insider sales included CEO H Lynn Moore, Jr. selling 5,250 shares valued at over $3 million, resulting in a significant decrease in his ownership stake.

Nuveen LLC purchased a new position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 98,227 shares of the technology company's stock, valued at approximately $57,108,000. Nuveen LLC owned 0.23% of Tyler Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in TYL. HighPoint Advisor Group LLC lifted its stake in Tyler Technologies by 10.9% in the first quarter. HighPoint Advisor Group LLC now owns 711 shares of the technology company's stock valued at $380,000 after acquiring an additional 70 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in Tyler Technologies by 12.6% in the first quarter. Exchange Traded Concepts LLC now owns 501 shares of the technology company's stock valued at $291,000 after acquiring an additional 56 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in Tyler Technologies by 20.7% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 42,500 shares of the technology company's stock valued at $24,507,000 after acquiring an additional 7,300 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Tyler Technologies by 0.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,133 shares of the technology company's stock valued at $2,984,000 after purchasing an additional 31 shares during the period. Finally, CX Institutional bought a new position in shares of Tyler Technologies in the first quarter valued at approximately $176,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on TYL. Wall Street Zen lowered shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Piper Sandler dropped their price target 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. Wells Fargo & Company dropped 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 research report on Tuesday, April 22nd. Robert W. Baird dropped their price target on shares of Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Finally, Cantor Fitzgerald began coverage on shares of Tyler Technologies in a research report on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 price target on the stock. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Tyler Technologies has an average rating of "Moderate Buy" and a consensus price target of $688.27.

Tyler Technologies Price Performance

TYL stock traded down $0.51 on Friday, reaching $572.73. 279,040 shares of the company were exchanged, compared to its average volume of 388,443. Tyler Technologies, Inc. has a 12 month low of $513.52 and a 12 month high of $661.31. The stock's fifty day moving average price is $577.04 and its 200 day moving average price is $578.34. The firm has a market capitalization of $24.78 billion, a PE ratio of 81.82, a PEG ratio of 4.39 and a beta of 0.85.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.91 earnings per share (EPS) 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 analyst estimates of $587.59 million. Tyler Technologies had a net margin of 13.66% and a return on equity of 10.34%. The business's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.40 EPS. As a group, research analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 1,200 shares of the business'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 sale, the chief financial officer owned 13,772 shares of the company's stock, valued at $7,997,675.84. The trade was 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 business's stock in a transaction 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 directly owned 6,983 shares in the company, valued at $3,970,952.78. This trade represents a 36.42% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,102 shares of company stock worth $16,303,524. Corporate insiders own 1.10% of the company's stock.

About Tyler Technologies

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.