Riverbridge Partners LLC Has $175.39 Million Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Riverbridge Partners LLC reduced its holdings in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 4.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 301,671 shares of the technology company's stock after selling 14,259 shares during the quarter. Tyler Technologies comprises 2.8% of Riverbridge Partners LLC's investment portfolio, making the stock its 6th largest position. Riverbridge Partners LLC owned approximately 0.70% of Tyler Technologies worth $175,388,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. boosted its holdings 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 in the last quarter. Kensington Investment Counsel LLC raised its holdings in Tyler Technologies by 0.8% in the 4th quarter. Kensington Investment Counsel LLC now owns 2,496 shares of the technology company's stock worth $1,439,000 after purchasing an additional 20 shares in the last quarter. CX Institutional purchased a new stake in shares of Tyler Technologies in the 1st quarter worth about $176,000. EP Wealth Advisors LLC boosted its stake in shares of Tyler Technologies by 268.5% during the 4th quarter. EP Wealth Advisors LLC now owns 1,861 shares of the technology company's stock valued at $1,073,000 after purchasing an additional 1,356 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of Tyler Technologies during the fourth quarter valued at about $33,584,000. 93.30% of the stock is owned by hedge funds and other institutional investors.

Tyler Technologies Trading Up 0.2%

Tyler Technologies stock traded up $0.90 during mid-day trading on Friday, hitting $569.57. The company had a trading volume of 667,966 shares, compared to its average volume of 265,623. Tyler Technologies, Inc. has a 12 month low of $469.66 and a 12 month high of $661.31. The company has a market capitalization of $24.56 billion, a PE ratio of 85.78, a price-to-earnings-growth ratio of 4.44 and a beta of 0.84. The stock's 50 day moving average price is $566.15 and its two-hundred day moving average price is $583.48.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.56 by $0.22. Tyler Technologies had a net margin of 13.23% and a return on equity of 10.29%. The company had revenue of $562.43 million for the quarter, compared to analysts' expectations of $556.45 million. During the same quarter in the previous year, the business posted $2.20 EPS. Tyler Technologies's revenue was up 10.3% compared to the same quarter last year. Equities research analysts anticipate that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Analyst Ratings Changes

TYL has been the subject of several research analyst reports. Wells Fargo & Company lowered their price objective on shares of Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Needham & Company LLC reissued a "buy" rating and issued a $750.00 target price on shares of Tyler Technologies in a research report on Tuesday, May 13th. Wall Street Zen lowered Tyler Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Piper Sandler reduced their price target 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. Finally, Cantor Fitzgerald started coverage on Tyler Technologies in a research report on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 price objective for the company. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $680.50.

Insider Transactions at Tyler Technologies

In related news, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $573.60, for a total transaction of $215,100.00. Following the sale, the insider now directly owns 247 shares of the company's stock, valued at $141,679.20. This trade represents a 60.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel M. Pope sold 365 shares of Tyler Technologies stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $550.00, for a total value of $200,750.00. Following the completion of the sale, the director now owns 2,853 shares of the company's stock, valued at $1,569,150. The trade was a 11.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,500 shares of company stock worth $15,177,230. Corporate insiders own 1.10% of the company's stock.

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.