Bessemer Group Inc. Sells 7,078 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Bessemer Group Inc. trimmed its stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 58.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,072 shares of the technology company's stock after selling 7,078 shares during the period. Bessemer Group Inc.'s holdings in Tyler Technologies were worth $2,949,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of TYL. Larson Financial Group LLC grew its position in Tyler Technologies by 221.4% in the 4th quarter. Larson Financial Group LLC now owns 45 shares of the technology company's stock worth $26,000 after purchasing an additional 31 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new stake in Tyler Technologies in the 1st quarter worth $26,000. Brown Brothers Harriman & Co. grew its position in Tyler Technologies by 300.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company's stock worth $32,000 after purchasing an additional 42 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new stake in Tyler Technologies in the 4th quarter worth $40,000. Finally, OFI Invest Asset Management acquired a new stake in Tyler Technologies in the 4th quarter worth $41,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Tyler Technologies news, CFO Brian K. Miller sold 3,333 shares of the business's stock in a transaction dated Friday, May 23rd. The shares were 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 directly owned 11,231 shares of the company's stock, valued at approximately $6,384,374.26. The trade was a 22.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 5,250 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $585.18, for a total transaction of $3,072,195.00. Following the completion of the transaction, the chief executive officer directly owned 81,775 shares of the company's stock, valued at approximately $47,853,094.50. This represents a 6.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,500 shares of company stock valued at $15,177,230. Company insiders own 1.10% of the company's stock.

Analyst Ratings Changes

TYL has been the topic of several research analyst reports. Barclays decreased their price target on shares of Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Piper Sandler decreased 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 reiterated a "buy" rating and set a $750.00 target price on shares of Tyler Technologies in a research report on Tuesday, May 13th. DA Davidson decreased their target price on shares of Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Finally, Robert W. Baird decreased their target price 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. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Tyler Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $680.50.

Tyler Technologies Trading Down 0.3%

TYL stock traded down $2.01 during trading on Tuesday, hitting $590.83. 347,424 shares of the stock traded hands, compared to its average volume of 262,640. Tyler Technologies, Inc. has a one year low of $501.98 and a one year high of $661.31. The stock has a market cap of $25.48 billion, a price-to-earnings ratio of 88.98, a P/E/G ratio of 4.63 and a beta of 0.85. The company has a 50 day simple moving average of $568.44 and a 200 day simple moving average of $580.93.

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, beating the consensus estimate of $2.56 by $0.22. Tyler Technologies had a net margin of 13.23% and a return on equity of 10.29%. The firm had revenue of $562.43 million during the quarter, compared to the consensus estimate of $556.45 million. During the same period last year, the firm posted $2.20 EPS. The firm's quarterly revenue was up 10.3% on a year-over-year basis. As a group, analysts predict that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

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.