Tyler Technologies, Inc. $TYL Stake Reduced by Bristlecone Advisors LLC

Bristlecone Advisors LLC lessened its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 47.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,037 shares of the technology company’s stock after selling 939 shares during the period. Bristlecone Advisors LLC’s holdings in Tyler Technologies were worth $615,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Leelyn Smith LLC raised its holdings in Tyler Technologies by 0.9% during the 1st quarter. Leelyn Smith LLC now owns 2,122 shares of the technology company’s stock worth $1,234,000 after buying an additional 19 shares during the period. Mather Group LLC. raised its holdings in Tyler Technologies by 5.3% during the 2nd quarter. Mather Group LLC. now owns 379 shares of the technology company’s stock worth $225,000 after buying an additional 19 shares during the period. Nordea Investment Management AB raised its holdings in Tyler Technologies by 0.6% during the 2nd quarter. Nordea Investment Management AB now owns 3,537 shares of the technology company’s stock worth $2,068,000 after buying an additional 20 shares during the period. Allworth Financial LP raised its holdings in Tyler Technologies by 9.1% during the 1st quarter. Allworth Financial LP now owns 288 shares of the technology company’s stock worth $153,000 after buying an additional 24 shares during the period. Finally, Meridian Wealth Management LLC raised its holdings in Tyler Technologies by 2.9% during the 1st quarter. Meridian Wealth Management LLC now owns 923 shares of the technology company’s stock worth $537,000 after buying an additional 26 shares during the period. Institutional investors and hedge funds own 93.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on TYL. Barclays boosted their price objective on Tyler Technologies from $695.00 to $715.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Weiss Ratings restated a “hold (c)” rating on shares of Tyler Technologies in a report on Tuesday, October 14th. DA Davidson dropped their target price on Tyler Technologies from $585.00 to $560.00 and set a “neutral” rating on the stock in a report on Friday, October 10th. Finally, UBS Group reiterated an “overweight” rating on shares of Tyler Technologies in a report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Tyler Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $682.89.

Insider Activity at Tyler Technologies

In related news, CEO H Lynn Moore, Jr. sold 5,250 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $588.89, for a total value of $3,091,672.50. Following the completion of the sale, the chief executive officer owned 81,775 shares of the company’s stock, valued at approximately $48,156,479.75. The trade was a 6.03% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Glenn A. Carter sold 750 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $538.30, for a total value of $403,725.00. Following the completion of the sale, the director directly owned 3,172 shares of the company’s stock, valued at approximately $1,707,487.60. The trade was a 19.12% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 14,250 shares of company stock valued at $8,099,000. 1.10% of the stock is owned by corporate insiders.

Tyler Technologies Price Performance

Shares of TYL opened at $478.59 on Thursday. The company has a market capitalization of $20.70 billion, a price-to-earnings ratio of 68.37, a P/E/G ratio of 3.92 and a beta of 0.89. Tyler Technologies, Inc. has a fifty-two week low of $475.77 and a fifty-two week high of $661.31. The business’s 50-day moving average is $528.54 and its 200-day moving average is $555.91.

Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, July 30th. The technology company reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.78 by $0.13. The company had revenue of $584.01 million for the quarter, compared to the consensus estimate of $587.59 million. Tyler Technologies had a return on equity of 10.34% and a net margin of 13.66%.The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.40 EPS. Equities research analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

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.