Posted by admin on Aug 25th, 2022 
Northwestern Mutual Wealth Management Co. cut its holdings in Tyler Technologies, Inc. (NYSE:TYL – Get Rating) by 8.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 361 shares of the technology company’s stock after selling 35 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Tyler Technologies were worth $162,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. Commerce Bank increased its position in shares of Tyler Technologies by 17.3% during the first quarter. Commerce Bank now owns 10,774 shares of the technology company’s stock worth $4,794,000 after purchasing an additional 1,592 shares in the last quarter. GW&K Investment Management LLC increased its position in shares of Tyler Technologies by 362.1% during the first quarter. GW&K Investment Management LLC now owns 5,443 shares of the technology company’s stock worth $2,421,000 after purchasing an additional 4,265 shares in the last quarter. Swiss National Bank increased its position in shares of Tyler Technologies by 14.3% during the first quarter. Swiss National Bank now owns 177,473 shares of the technology company’s stock worth $78,956,000 after purchasing an additional 22,200 shares in the last quarter. Ingalls & Snyder LLC increased its position in shares of Tyler Technologies by 48.3% during the first quarter. Ingalls & Snyder LLC now owns 623 shares of the technology company’s stock worth $277,000 after purchasing an additional 203 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund grew its holdings in Tyler Technologies by 9.2% in the 1st quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 1,209 shares of the technology company’s stock valued at $538,000 after buying an additional 102 shares in the last quarter. 90.14% of the stock is currently owned by hedge funds and other institutional investors.
TYL stock opened at $387.33 on Thursday. The company has a fifty day moving average price of $365.11 and a 200 day moving average price of $387.49. Tyler Technologies, Inc. has a 12 month low of $300.85 and a 12 month high of $557.55. The company has a market cap of $16.11 billion, a price-to-earnings ratio of 92.00 and a beta of 0.90. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.15.
Tyler Technologies (NYSE:TYL – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The technology company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.83 by $0.05. Tyler Technologies had a net margin of 9.84% and a return on equity of 10.26%. The firm had revenue of $468.70 million during the quarter, compared to the consensus estimate of $458.50 million. During the same quarter in the prior year, the firm earned $1.42 EPS. Tyler Technologies’s revenue for the quarter was up 16.0% on a year-over-year basis. Sell-side analysts expect that Tyler Technologies, Inc. will post 5.53 earnings per share for the current year.
Several analysts have issued reports on the company. Truist Financial dropped their target price on Tyler Technologies from $550.00 to $500.00 and set a “buy” rating for the company in a report on Tuesday, July 5th. Piper Sandler upped their target price on Tyler Technologies from $405.00 to $468.00 and gave the company an “overweight” rating in a report on Friday, July 29th. Barclays decreased their price target on Tyler Technologies from $445.00 to $370.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 12th. DA Davidson upped their price target on Tyler Technologies to $460.00 in a research note on Tuesday, August 9th. Finally, Robert W. Baird decreased their price target on Tyler Technologies from $600.00 to $500.00 in a research note on Friday, July 29th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Tyler Technologies presently has an average rating of “Moderate Buy” and an average target price of $480.08.
In other Tyler Technologies news, Chairman John S. Marr, Jr. sold 6,000 shares of the company’s stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $363.75, for a total transaction of $2,182,500.00. Following the completion of the transaction, the chairman now owns 57,638 shares in the company, valued at approximately $20,965,822.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, COO Jeffrey David Puckett sold 2,250 shares of the stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $405.40, for a total value of $912,150.00. Following the completion of the transaction, the chief operating officer now owns 5,169 shares in the company, valued at approximately $2,095,512.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman John S. Marr, Jr. sold 6,000 shares of the stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $363.75, for a total transaction of $2,182,500.00. Following the completion of the transaction, the chairman now owns 57,638 shares of the company’s stock, valued at approximately $20,965,822.50. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.
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Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. The company operates in three segments: Enterprise Software; Appraisal and Tax; and NIC. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools.
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