Envestnet Portfolio Solutions Inc. Sells 618 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Envestnet Portfolio Solutions Inc. lessened its stake in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 14.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,575 shares of the technology company's stock after selling 618 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Tyler Technologies were worth $2,078,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Retirement Wealth Solutions LLC acquired a new stake in Tyler Technologies in the first quarter valued at approximately $26,000. Larson Financial Group LLC raised its position in shares of Tyler Technologies by 221.4% during the fourth 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 period. Brown Brothers Harriman & Co. lifted its holdings in shares of 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 in the last quarter. Kapitalo Investimentos Ltda acquired a new position in Tyler Technologies during the fourth quarter worth $40,000. Finally, Whipplewood Advisors LLC lifted its stake in shares of Tyler Technologies by 255.0% in the first quarter. Whipplewood Advisors LLC now owns 71 shares of the technology company's stock valued at $41,000 after buying an additional 51 shares in the last quarter. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Tyler Technologies Stock Down 0.4%

TYL stock traded down $2.59 during midday trading on Thursday, hitting $578.66. The company's stock had a trading volume of 269,653 shares, compared to its average volume of 263,270. The stock has a market cap of $24.95 billion, a price-to-earnings ratio of 87.15, a PEG ratio of 4.54 and a beta of 0.84. The stock's 50-day moving average price is $566.97 and its 200 day moving average price is $581.87. Tyler Technologies, Inc. has a 1 year low of $485.00 and a 1 year high of $661.31.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Barclays lowered their target price on shares of Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Wall Street Zen downgraded Tyler Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Wells Fargo & Company cut their target price on 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. Cantor Fitzgerald began coverage on Tyler Technologies in a report on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 price target for the company. Finally, DA Davidson decreased their price target on Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating for the company in a report on Friday, April 25th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $680.50.

Insider Buying and Selling at Tyler Technologies

In related news, CFO Brian K. Miller sold 1,044 shares of Tyler Technologies stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $587.20, for a total value of $613,036.80. Following the sale, the chief financial officer now owns 14,972 shares of the company's stock, valued at approximately $8,791,558.40. The trade was a 6.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John S. Marr, Jr. sold 5,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the insider now owns 6,983 shares in the company, valued at approximately $3,902,519.38. The trade was a 41.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,500 shares of company stock worth $15,177,230 over the last three months. 1.10% of the stock is currently owned by insiders.

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.