Tyler Technologies, Inc. $TYL Holdings Decreased by Riverbridge Partners LLC

Key Points

• Riverbridge Partners LLC cut its stake in Tyler Technologies by 11.1% in Q4, selling 29,887 shares and leaving it with 238,740 shares worth about $108.38 million (TYL is its 11th largest holding).
• Tyler's most recent quarter missed expectations, reporting EPS of $2.64 vs. $2.71 expected and revenue of $575.18M vs. $591.09M, though revenue rose 6.3% year-over-year.
• Several analysts have reduced price targets (e.g., Stifel to $400, TD Cowen to $500, Goldman $420), but the consensus remains a Moderate Buy with an average target of $467.54.

Riverbridge Partners LLC reduced its holdings in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 11.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 238,740 shares of the technology company's stock after selling 29,887 shares during the period. Tyler Technologies comprises about 2.0% of Riverbridge Partners LLC's holdings, making the stock its 11th largest holding. Riverbridge Partners LLC owned approximately 0.55% of Tyler Technologies worth $108,376,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Triangle Securities Wealth Management grew its stake in Tyler Technologies by 227.2% during the 4th quarter. Triangle Securities Wealth Management now owns 1,862 shares of the technology company's stock valued at $845,000 after acquiring an additional 1,293 shares in the last quarter. Czech National Bank lifted its position in shares of Tyler Technologies by 3.3% in the fourth quarter. Czech National Bank now owns 11,346 shares of the technology company's stock worth $5,151,000 after purchasing an additional 358 shares in the last quarter. DAVENPORT & Co LLC boosted its holdings in shares of Tyler Technologies by 15.1% during the fourth quarter. DAVENPORT & Co LLC now owns 1,694 shares of the technology company's stock worth $769,000 after purchasing an additional 222 shares during the period. Avanza Fonder AB boosted its holdings in shares of Tyler Technologies by 48.4% during the fourth quarter. Avanza Fonder AB now owns 4,341 shares of the technology company's stock worth $1,971,000 after purchasing an additional 1,415 shares during the period. Finally, Westwind Capital grew its position in Tyler Technologies by 47.7% during the fourth quarter. Westwind Capital now owns 40,091 shares of the technology company's stock valued at $18,199,000 after purchasing an additional 12,955 shares in the last quarter. Hedge funds and other institutional investors own 93.30% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Stifel Nicolaus dropped their price objective on shares of Tyler Technologies from $550.00 to $400.00 and set a "buy" rating on the stock in a research note on Friday, February 13th. The Goldman Sachs Group set a $420.00 target price on shares of Tyler Technologies in a research note on Friday, February 13th. TD Cowen lowered their price target on shares of Tyler Technologies from $600.00 to $500.00 and set a "buy" rating on the stock in a report on Friday, February 13th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tyler Technologies in a research note on Friday, January 9th. Finally, Robert W. Baird set a $440.00 price objective on Tyler Technologies in a report on Friday, February 13th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $467.54.

Tyler Technologies Trading Up 3.0%

NYSE:TYL opened at $341.43 on Friday. The firm has a market capitalization of $14.49 billion, a PE ratio of 47.42, a PEG ratio of 2.23 and a beta of 0.90. Tyler Technologies, Inc. has a 1 year low of $283.71 and a 1 year high of $621.34. The firm's fifty day simple moving average is $359.70 and its 200 day simple moving average is $440.66.

Tyler Technologies (NYSE:TYL - Get Free Report) last released its earnings results on Wednesday, February 11th. The technology company reported $2.64 earnings per share for the quarter, missing analysts' consensus estimates of $2.71 by ($0.07). Tyler Technologies had a return on equity of 10.42% and a net margin of 13.53%.The firm had revenue of $575.18 million for the quarter, compared to analyst estimates of $591.09 million. During the same period in the prior year, the firm earned $2.43 EPS. The firm's revenue was up 6.3% on a year-over-year basis. As a group, analysts anticipate that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tyler Technologies news, Director Andrew D. Teed bought 1,600 shares of the stock in a transaction on Monday, February 23rd. The shares were purchased at an average price of $309.91 per share, with a total value of $495,856.00. Following the acquisition, the director directly owned 5,118 shares of the company's stock, valued at $1,586,119.38. This represents a 45.48% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Glenn A. Carter sold 1,624 shares of the firm's stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $349.14, for a total value of $567,003.36. Following the completion of the sale, the director directly owned 5,298 shares in the company, valued at $1,849,743.72. This trade represents a 23.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 7,298 shares of company stock valued at $2,658,721 in the last ninety days. Company insiders own 1.10% of the company's stock.

About Tyler Technologies

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler's product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.

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