WCM Investment Management LLC Cuts Stake in Tyler Technologies, Inc. (NYSE:TYL)

WCM Investment Management LLC trimmed its position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 31.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,492 shares of the technology company's stock after selling 1,129 shares during the period. WCM Investment Management LLC's holdings in Tyler Technologies were worth $1,445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Larson Financial Group LLC lifted its position in shares of Tyler Technologies by 221.4% in the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company's stock valued at $26,000 after acquiring an additional 31 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new position in Tyler Technologies during the first quarter worth approximately $26,000. Brown Brothers Harriman & Co. lifted its position in Tyler Technologies by 300.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company's stock worth $32,000 after buying an additional 42 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new position in Tyler Technologies during the fourth quarter worth approximately $40,000. Finally, OFI Invest Asset Management purchased a new position in Tyler Technologies during the fourth quarter worth approximately $41,000. 93.30% of the stock is owned by institutional investors and hedge funds.

Tyler Technologies Stock Performance

NYSE TYL traded down $0.48 during trading on Monday, reaching $589.56. 235,921 shares of the company's stock were exchanged, compared to its average volume of 263,667. Tyler Technologies, Inc. has a 1 year low of $503.54 and a 1 year high of $661.31. The stock has a market cap of $25.42 billion, a P/E ratio of 88.79, a price-to-earnings-growth ratio of 4.61 and a beta of 0.84. The company has a 50 day moving average price of $572.62 and a two-hundred day moving average price of $580.40.

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. The firm had revenue of $562.43 million during the quarter, compared to the consensus estimate of $556.45 million. Tyler Technologies had a return on equity of 10.29% and a net margin of 13.23%. The firm's revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.20 EPS. Research analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Analyst Ratings Changes

TYL has been the topic of a number of analyst reports. Robert W. Baird reduced their price objective on Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. DA Davidson reduced their price objective on Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Needham & Company LLC reissued a "buy" rating and set a $750.00 target price on shares of Tyler Technologies in a research note on Tuesday, May 13th. Wells Fargo & Company cut their target price on Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Finally, Wall Street Zen cut Tyler Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Tyler Technologies has a consensus rating of "Moderate Buy" and an average price target of $680.50.

Insiders Place Their Bets

In other Tyler Technologies news, CFO Brian K. Miller sold 3,333 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $568.46, for a total transaction of $1,894,677.18. Following the sale, the chief financial officer owned 11,231 shares in the company, valued at approximately $6,384,374.26. This represents a 22.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brenda A. Cline sold 2,500 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $577.41, for a total value of $1,443,525.00. Following the sale, the director owned 2,519 shares in the company, valued at $1,454,495.79. This trade represents a 49.81% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,500 shares of company stock valued at $15,177,230. Corporate insiders own 1.10% of the company's stock.

Tyler Technologies 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.