Tyler Technologies, Inc. $TYL Shares Sold by Natixis Advisors LLC

Key Points

• Natixis Advisors trimmed its position by 41.3% in Tyler Technologies during Q3, selling 21,348 shares and reducing its holding to 30,353 shares (about 0.07% of the company) worth roughly $15.9 million, while institutional investors own about 93.3% of the stock.
• Tyler missed recent quarterly estimates, reporting EPS of $2.64 versus $2.71 expected and revenue of $575.2M versus $591.1M, with the stock trading around $345.59, a market cap of $14.86B and a consensus analyst rating of "Moderate Buy" with an average target of $467.54.
• Mixed insider activity: Director Andrew D. Teed bought 1,600 shares at $309.91, while insiders sold a total of 6,674 shares (~$2.54M) in the last quarter, leaving insiders with about 1.10% ownership.

Natixis Advisors LLC trimmed its position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 41.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,353 shares of the technology company's stock after selling 21,348 shares during the period. Natixis Advisors LLC owned approximately 0.07% of Tyler Technologies worth $15,879,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. General American Investors Co. Inc. increased its stake in shares of Tyler Technologies by 7.2% during the third quarter. General American Investors Co. Inc. now owns 44,381 shares of the technology company's stock worth $23,218,000 after acquiring an additional 3,000 shares during the period. Lazard Freres Gestion S.A.S. lifted its position in Tyler Technologies by 150.0% in the third quarter. Lazard Freres Gestion S.A.S. now owns 5,000 shares of the technology company's stock valued at $2,615,000 after purchasing an additional 3,000 shares during the period. ICICI Prudential Asset Management Co Ltd acquired a new stake in Tyler Technologies in the third quarter valued at about $2,111,000. Principal Financial Group Inc. boosted its holdings in Tyler Technologies by 11.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,410,640 shares of the technology company's stock valued at $738,010,000 after purchasing an additional 144,612 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Tyler Technologies by 4.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 172,932 shares of the technology company's stock valued at $90,471,000 after purchasing an additional 8,126 shares in the last quarter. 93.30% of the stock is owned by institutional investors and hedge funds.

Tyler Technologies Trading Down 0.8%

Shares of NYSE TYL opened at $345.59 on Friday. The company's 50-day moving average price is $379.75 and its 200 day moving average price is $455.31. Tyler Technologies, Inc. has a 52 week low of $283.71 and a 52 week high of $621.34. The stock has a market cap of $14.86 billion, a price-to-earnings ratio of 48.00, a PEG ratio of 2.34 and a beta of 0.90.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Cantor Fitzgerald reissued a "neutral" rating and set a $325.00 target price on shares of Tyler Technologies in a research note on Friday, February 13th. BTIG Research dropped their price objective on Tyler Technologies from $560.00 to $470.00 and set a "buy" rating on the stock in a report on Monday, February 9th. Piper Sandler reiterated an "overweight" rating and issued a $543.00 price objective (down from $671.00) on shares of Tyler Technologies in a research report on Friday, February 13th. Robert W. Baird set a $440.00 target price on Tyler Technologies in a report on Friday, February 13th. Finally, The Goldman Sachs Group set a $420.00 target price on shares of Tyler Technologies in a research report on Friday, February 13th. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $467.54.

Insider Activity

In other news, Director Andrew D. Teed purchased 1,600 shares of the firm's stock in a transaction on Monday, February 23rd. The shares were bought at an average cost of $309.91 per share, with a total value of $495,856.00. Following the purchase, the director directly owned 5,118 shares of the company's stock, valued at approximately $1,586,119.38. This trade represents a 45.48% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian K. Miller sold 1,000 shares of Tyler Technologies stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $448.51, for a total transaction of $448,510.00. Following the sale, the chief financial officer owned 17,148 shares of the company's stock, valued at approximately $7,691,049.48. This trade represents a 5.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 6,674 shares of company stock worth $2,540,228 in the last quarter. Corporate 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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