Westwood Holdings Group Inc. Lowers Position in Tyler Technologies, Inc. (NYSE:TYL)

Westwood Holdings Group Inc. lessened its stake in Tyler Technologies, Inc. (NYSE:TYL) by 10.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,919 shares of the technology company’s stock after selling 961 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Tyler Technologies were worth $4,566,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Norges Bank bought a new position in Tyler Technologies during the fourth quarter valued at $528,465,000. Van ECK Associates Corp lifted its position in Tyler Technologies by 1,991.8% during the fourth quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock valued at $317,486,000 after purchasing an additional 524,259 shares during the last quarter. Raymond James Financial Inc. bought a new position in Tyler Technologies during the fourth quarter valued at $159,947,000. JPMorgan Chase & Co. lifted its position in Tyler Technologies by 148.2% during the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock valued at $269,369,000 after purchasing an additional 275,511 shares during the last quarter. Finally, Wealthfront Advisers LLC lifted its position in Tyler Technologies by 8,973.6% during the fourth quarter. Wealthfront Advisers LLC now owns 154,433 shares of the technology company’s stock valued at $89,052,000 after purchasing an additional 152,731 shares during the last quarter. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Trading Up 0.1%

TYL stock opened at $574.72 on Wednesday. The company has a market capitalization of $24.78 billion, a PE ratio of 94.84, a P/E/G ratio of 4.93 and a beta of 0.88. Tyler Technologies, Inc. has a 12 month low of $458.50 and a 12 month high of $661.31. The firm’s 50-day moving average is $561.76 and its 200 day moving average is $589.13. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.56 by $0.22. The company had revenue of $562.43 million for the quarter, compared to the consensus estimate of $556.45 million. Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. The firm’s revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.20 EPS. On average, research analysts anticipate that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Insider Buying and Selling

In other Tyler Technologies news, Director Daniel M. Pope sold 365 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $550.00, for a total transaction of $200,750.00. Following the transaction, the director now directly owns 2,853 shares in the company, valued at $1,569,150. This represents a 11.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brenda A. Cline sold 2,500 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $577.41, for a total transaction of $1,443,525.00. Following the transaction, the director now owns 2,519 shares in the company, valued at approximately $1,454,495.79. The trade was a 49.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,962 shares of company stock valued at $13,702,451 in the last 90 days. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Truist Financial reiterated a “buy” rating and set a $775.00 price objective (up previously from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Piper Sandler reduced their target price on shares of Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. Wells Fargo & Company reduced their target price on shares of Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Robert W. Baird reduced their target price on shares of Tyler Technologies from $785.00 to $700.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $750.00 target price on shares of Tyler Technologies in a research note on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $674.67.

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.