Raiffeisen Bank International AG Sells 952 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Key Points

• Raiffeisen Bank International AG significantly reduced its stake in Tyler Technologies by 57.9%, ending up with 693 shares valued at approximately $402,000 after selling 952 shares in the first quarter.
• Wall Street analysts remain mostly positive on Tyler Technologies, with eight analysts giving it a buy rating and a median price target of $688.27 for the stock.
• Tyler Technologies reported a quarterly earnings per share of $2.91, exceeding analyst expectations of $2.78, alongside a revenue growth of 10.2% compared to the same quarter last year.

Raiffeisen Bank International AG trimmed its stake in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 57.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 693 shares of the technology company's stock after selling 952 shares during the quarter. Raiffeisen Bank International AG's holdings in Tyler Technologies were worth $402,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC lifted its stake in shares of 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 acquiring an additional 18 shares during the last quarter. AdvisorNet Financial Inc grew its position in Tyler Technologies by 7.0% during 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 last quarter. Leelyn Smith LLC increased its stake in Tyler Technologies by 0.9% in the 1st quarter. Leelyn Smith LLC now owns 2,122 shares of the technology company's stock worth $1,234,000 after purchasing an additional 19 shares during the period. Benjamin Edwards Inc. lifted its position in Tyler Technologies by 1.5% in the fourth quarter. Benjamin Edwards Inc. now owns 1,526 shares of the technology company's stock valued at $880,000 after purchasing an additional 22 shares during the last quarter. Finally, MV Capital Management Inc. lifted its position in Tyler Technologies by 42.9% in the first quarter. MV Capital Management Inc. now owns 80 shares of the technology company's stock valued at $47,000 after purchasing an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 93.30% of the company's stock.

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 3,333 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $568.46, for a total value of $1,894,677.18. Following the completion of the transaction, the chief financial officer owned 11,231 shares in the company, valued at approximately $6,384,374.26. This represents a 22.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John S. Marr, Jr. sold 5,000 shares of the firm's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $558.86, for a total value of $2,794,300.00. Following the transaction, the insider directly owned 6,983 shares of the company's stock, valued at $3,902,519.38. This represents a 41.73% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,352 shares of company stock worth $17,449,676. 1.10% of the stock is owned by company insiders.

Tyler Technologies Stock Down 2.0%

Shares of TYL traded down $12.28 during trading hours on Thursday, reaching $599.49. 532,735 shares of the company traded hands, compared to its average volume of 383,827. Tyler Technologies, Inc. has a 12 month low of $513.52 and a 12 month high of $661.31. The company's fifty day moving average price is $576.54 and its two-hundred day moving average price is $579.34. The company has a market capitalization of $25.93 billion, a price-to-earnings ratio of 85.64, a price-to-earnings-growth ratio of 4.70 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 EPS for the quarter, topping the consensus estimate of $2.78 by $0.13. The business had revenue of $584.01 million during 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%. Tyler Technologies's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business posted $2.40 earnings per share. On average, analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Tyler Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Robert W. Baird cut 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 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 objective on the stock. Needham & Company LLC reiterated a "buy" rating and set a $750.00 target price on shares of Tyler Technologies in a report on Tuesday, May 13th. Finally, Piper Sandler cut their target price 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 analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $688.27.

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.