Tyler Technologies, Inc. (NYSE:TYL) Shares Sold by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. trimmed its holdings in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 34.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 63,045 shares of the technology company's stock after selling 32,575 shares during the period. Vaughan Nelson Investment Management L.P. owned 0.15% of Tyler Technologies worth $36,654,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Jackson Square Capital LLC raised its position in shares of Tyler Technologies by 1.1% in the first quarter. Jackson Square Capital LLC now owns 2,263 shares of the technology company's stock valued at $1,316,000 after buying an additional 25 shares during the last quarter. Azzad Asset Management Inc. ADV acquired a new stake in Tyler Technologies during the first quarter worth about $3,257,000. Elevation Point Wealth Partners LLC acquired a new stake in Tyler Technologies during the first quarter worth about $221,000. Fifth Third Bancorp increased its position in Tyler Technologies by 27.0% during the first quarter. Fifth Third Bancorp now owns 1,468 shares of the technology company's stock worth $853,000 after purchasing an additional 312 shares during the last quarter. Finally, Simon Quick Advisors LLC acquired a new stake in Tyler Technologies during the first quarter worth about $234,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TYL shares. Needham & Company LLC restated a "buy" rating and set a $750.00 price objective on shares of Tyler Technologies in a research report on Tuesday, May 13th. Robert W. Baird cut their price objective on shares of Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Wells Fargo & Company cut their price objective on shares of Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. DA Davidson cut their price objective on shares of Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Finally, Cantor Fitzgerald started coverage on shares of Tyler Technologies in a research report on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 price objective for the company. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $680.50.

Insider Activity

In related news, Director Daniel M. Pope sold 365 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $550.00, for a total value of $200,750.00. Following the sale, the director now owns 2,853 shares of the company's stock, valued at $1,569,150. This trade represents a 11.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John S. Marr, Jr. sold 5,000 shares of the firm'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 transaction of $2,794,300.00. Following the completion of the sale, the insider now directly owns 6,983 shares in the company, valued at approximately $3,902,519.38. This trade represents a 41.73% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,300 shares of company stock valued at $14,480,366. 1.10% of the stock is currently owned by company insiders.

Tyler Technologies Trading Down 1.3%

TYL stock traded down $7.68 during mid-day trading on Friday, hitting $580.06. 350,724 shares of the company were exchanged, compared to its average volume of 264,500. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $25.01 billion, a P/E ratio of 95.72, a PEG ratio of 4.93 and a beta of 0.84. The business has a fifty day simple moving average of $564.19 and a 200-day simple moving average of $584.59. Tyler Technologies, Inc. has a 12-month low of $458.50 and a 12-month high of $661.31.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.56 by $0.22. Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. The business had revenue of $562.43 million during the quarter, compared to analyst estimates of $556.45 million. During the same quarter last year, the firm posted $2.20 earnings per share. The business's revenue for the quarter was up 10.3% compared to the same quarter last year. On average, equities research analysts predict that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Tyler Technologies Company Profile

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.