RGM Capital LLC Sells 6,678 Shares of Tyler Technologies, Inc. (NYSE:TYL)

RGM Capital LLC trimmed its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 1.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 395,838 shares of the technology company’s stock after selling 6,678 shares during the quarter. Tyler Technologies makes up about 8.0% of RGM Capital LLC’s portfolio, making the stock its 3rd biggest position. RGM Capital LLC’s holdings in Tyler Technologies were worth $199,019,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Swedbank AB acquired a new position in Tyler Technologies in the 2nd quarter worth approximately $251,390,000. APG Asset Management US Inc. acquired a new stake in shares of Tyler Technologies in the fourth quarter worth $57,493,000. Janus Henderson Group PLC grew its holdings in shares of Tyler Technologies by 15.3% during the first quarter. Janus Henderson Group PLC now owns 532,935 shares of the technology company’s stock valued at $226,501,000 after buying an additional 70,801 shares in the last quarter. Quantum Capital Management LLC NJ raised its position in Tyler Technologies by 179.4% during the first quarter. Quantum Capital Management LLC NJ now owns 107,760 shares of the technology company’s stock valued at $45,799,000 after buying an additional 69,189 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in Tyler Technologies by 18.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 424,982 shares of the technology company’s stock worth $180,622,000 after acquiring an additional 65,814 shares in the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

Insider Transactions at Tyler Technologies

In related news, Director Daniel M. Pope sold 275 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $578.26, for a total value of $159,021.50. Following the transaction, the director now directly owns 3,218 shares in the company, valued at approximately $1,860,840.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Tyler Technologies news, Director Daniel M. Pope sold 275 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $578.26, for a total transaction of $159,021.50. Following the completion of the sale, the director now directly owns 3,218 shares in the company, valued at $1,860,840.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of Tyler Technologies stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $576.49, for a total value of $3,603,062.50. Following the completion of the transaction, the chief executive officer now owns 75,000 shares in the company, valued at $43,236,750. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,375 shares of company stock worth $17,049,739. 2.20% of the stock is owned by insiders.

Tyler Technologies Price Performance

Shares of NYSE:TYL opened at $577.80 on Friday. The stock has a market capitalization of $24.53 billion, a P/E ratio of 130.72, a P/E/G ratio of 5.42 and a beta of 0.78. The business has a 50-day moving average of $570.67 and a two-hundred day moving average of $498.05. Tyler Technologies, Inc. has a fifty-two week low of $361.16 and a fifty-two week high of $598.93. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.06 and a quick ratio of 1.06.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, July 24th. The technology company reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.06. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The firm had revenue of $540.98 million during the quarter, compared to analyst estimates of $541.01 million. During the same period in the previous year, the company earned $1.53 EPS. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities research analysts predict that Tyler Technologies, Inc. will post 7.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TYL has been the topic of a number of research reports. Evercore ISI upgraded Tyler Technologies to a “hold” rating in a report on Friday, July 26th. BTIG Research upped their price objective on shares of Tyler Technologies from $550.00 to $630.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Needham & Company LLC reiterated a “buy” rating and issued a $600.00 target price on shares of Tyler Technologies in a research report on Thursday, July 25th. Truist Financial restated a “buy” rating and set a $600.00 price target (up from $560.00) on shares of Tyler Technologies in a report on Friday, July 26th. Finally, Wells Fargo & Company increased their price objective on Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $582.31.

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.