Tyler Technologies, Inc. $TYL Stake Decreased by Asset Management One Co. Ltd.

Key Points

• Asset Management One cut its Tyler Technologies stake by 91.1% in the third quarter, selling 17,429 shares; it retained 1,693 shares valued at about $539,000.
• Tyler reported quarterly EPS of $3.52, above the $3.48 estimate, while revenue of $647.57 million fell short of expectations; revenue nevertheless rose 8.7% year over year.
• Analysts maintained a generally positive outlook: the stock carries a “Moderate Buy” consensus rating and an average price target of $440.88.

Asset Management One Co. Ltd. decreased its holdings in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 91.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,693 shares of the technology company's stock after selling 17,429 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Tyler Technologies were worth $539,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in TYL. American Capital Management Inc. grew its stake in shares of Tyler Technologies by 348.9% during the 1st quarter. American Capital Management Inc. now owns 98,942 shares of the technology company's stock valued at $33,876,000 after acquiring an additional 76,903 shares during the period. Edgestream Partners L.P. purchased a new stake in Tyler Technologies in the 1st quarter worth approximately $2,739,000. Bank of America Corp DE bought a new stake in Tyler Technologies during the 2nd quarter worth approximately $116,831,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Tyler Technologies by 13.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 400,775 shares of the technology company's stock worth $117,211,000 after acquiring an additional 48,832 shares during the period. Finally, Corient Private Wealth LP bought a new stake in Tyler Technologies during the 2nd quarter worth approximately $838,000. Hedge funds and other institutional investors own 93.30% of the company's stock.

Tyler Technologies Price Performance

TYL stock opened at $404.60 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.33 and a current ratio of 1.33. The company's fifty day moving average price is $353.93 and its 200-day moving average price is $337.07. Tyler Technologies, Inc. has a one year low of $270.71 and a one year high of $481.57. The company has a market capitalization of $16.09 billion, a PE ratio of 42.70, a price-to-earnings-growth ratio of 2.66 and a beta of 0.74.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its earnings results on Wednesday, October 28th. The technology company reported $3.52 earnings per share for the quarter, beating the consensus estimate of $3.48 by $0.04. The company had revenue of $647.57 million during the quarter, compared to analysts' expectations of $651.38 million. Tyler Technologies had a net margin of 13.51% and a return on equity of 12.21%. Tyler Technologies's quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the company posted $2.91 earnings per share. On average, equities analysts anticipate that Tyler Technologies, Inc. will post 10.13 EPS for the current fiscal year.

Insider Transactions at Tyler Technologies

In related news, COO Jeffrey Puckett sold 8,500 shares of the business's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $356.44, for a total value of $3,029,740.00. Following the sale, the chief operating officer directly owned 7,784 shares in the company, valued at approximately $2,774,528.96. The trade was a 52.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO H. Moore, Jr. sold 10,000 shares of the stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $393.17, for a total value of $3,931,700.00. Following the transaction, the chief executive officer directly owned 100,392 shares of the company's stock, valued at approximately $39,471,122.64. The trade was a 9.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 27,750 shares of company stock worth $10,409,748 over the last quarter. 1.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

TYL has been the topic of several analyst reports. DA Davidson reaffirmed a "buy" rating and set a $460.00 price target on shares of Tyler Technologies in a report on Tuesday, October 27th. BTIG Research increased their price objective on shares of Tyler Technologies from $400.00 to $430.00 and gave the stock a "buy" rating in a research note on Friday, October 30th. Wells Fargo & Company raised their price objective on shares of Tyler Technologies from $400.00 to $430.00 and gave the company an "overweight" rating in a research report on Friday, October 30th. Piper Sandler began coverage on shares of Tyler Technologies in a research note on Monday, September 28th. They set an "overweight" rating and a $450.00 target price on the stock. Finally, UBS Group set a $395.00 target price on shares of Tyler Technologies in a report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Tyler Technologies currently has an average rating of "Moderate Buy" and an average target price of $440.88.

Tyler Technologies Company Profile

Tyler Technologies, Inc provides integrated software and technology services to public-sector organizations. Its customers include municipalities, counties, states, courts, school districts, public safety agencies, and other government entities. The company's solutions are designed to help public organizations manage operations, improve service delivery, and engage with residents and constituents.

Tyler's product portfolio includes enterprise resource planning and financial management software, property tax and appraisal systems, court and justice solutions, public safety and emergency communications platforms, permitting and licensing tools, and software for schools and elections.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.