Riverbridge Partners LLC Has $157.94 Million Position in Tyler Technologies, Inc. (NYSE:TYL)

Riverbridge Partners LLC lowered its holdings in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 3.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 377,741 shares of the technology company's stock after selling 12,717 shares during the quarter. Tyler Technologies comprises approximately 2.1% of Riverbridge Partners LLC's investment portfolio, making the stock its 13th largest holding. Riverbridge Partners LLC owned about 0.90% of Tyler Technologies worth $157,941,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Norges Bank purchased a new position in Tyler Technologies during the 4th quarter worth $164,642,000. Alliancebernstein L.P. boosted its holdings in Tyler Technologies by 26.3% during the 4th quarter. Alliancebernstein L.P. now owns 1,719,257 shares of the technology company's stock worth $554,306,000 after acquiring an additional 357,779 shares during the last quarter. Morgan Stanley boosted its holdings in Tyler Technologies by 21.1% during the 3rd quarter. Morgan Stanley now owns 1,015,713 shares of the technology company's stock worth $392,208,000 after acquiring an additional 177,242 shares during the last quarter. Select Equity Group L.P. boosted its holdings in Tyler Technologies by 101.0% during the 1st quarter. Select Equity Group L.P. now owns 327,305 shares of the technology company's stock worth $116,075,000 after acquiring an additional 164,478 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Tyler Technologies by 122.1% during the 1st quarter. JPMorgan Chase & Co. now owns 213,701 shares of the technology company's stock worth $75,788,000 after acquiring an additional 117,500 shares during the last quarter. Institutional investors and hedge funds own 93.30% of the company's stock.

Insider Activity

In other news, CFO Brian K. Miller sold 5,000 shares of the company's stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $442.99, for a total transaction of $2,214,950.00. Following the sale, the chief financial officer now directly owns 14,610 shares in the company, valued at $6,472,083.90. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Glenn A. Carter sold 1,650 shares of the business's stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $437.84, for a total transaction of $722,436.00. Following the completion of the transaction, the director now owns 2,011 shares of the company's stock, valued at $880,496.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian K. Miller sold 5,000 shares of the business's stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $442.99, for a total value of $2,214,950.00. Following the transaction, the chief financial officer now directly owns 14,610 shares of the company's stock, valued at approximately $6,472,083.90. The disclosure for this sale can be found here. Insiders have sold a total of 50,608 shares of company stock worth $21,974,819 over the last ninety days. Company insiders own 2.20% of the company's stock.

Tyler Technologies Stock Performance

Tyler Technologies stock traded down $0.27 during midday trading on Thursday, reaching $414.77. The stock had a trading volume of 234,094 shares, compared to its average volume of 201,228. Tyler Technologies, Inc. has a 12 month low of $342.59 and a 12 month high of $454.74. The firm's 50-day moving average price is $428.41 and its 200 day moving average price is $411.95. The firm has a market capitalization of $17.60 billion, a PE ratio of 106.62, a P/E/G ratio of 4.07 and a beta of 0.81. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.20.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 14th. The technology company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.06. Tyler Technologies had a return on equity of 8.85% and a net margin of 8.50%. The firm had revenue of $480.94 million for the quarter, compared to analysts' expectations of $483.34 million. As a group, research analysts predict that Tyler Technologies, Inc. will post 6.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TYL shares. DA Davidson lifted their price objective on shares of Tyler Technologies from $412.00 to $434.00 and gave the stock a "neutral" rating in a report on Thursday, February 22nd. Piper Sandler lifted their price objective on shares of Tyler Technologies from $480.00 to $520.00 and gave the stock an "overweight" rating in a report on Friday, February 16th. JMP Securities reiterated a "market outperform" rating and set a $490.00 target price on shares of Tyler Technologies in a research note on Friday, February 16th. JPMorgan Chase & Co. lifted their target price on Tyler Technologies from $500.00 to $526.00 and gave the stock an "overweight" rating in a research note on Thursday, February 15th. Finally, Needham & Company LLC lifted their target price on Tyler Technologies from $475.00 to $500.00 and gave the stock a "buy" rating in a research note on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $457.86.

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.

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