Mutual of America Capital Management LLC Sells 170 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Mutual of America Capital Management LLC reduced its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 3.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 5,353 shares of the technology company’s stock after selling 170 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Tyler Technologies were worth $2,691,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Tyler Technologies by 1.1% during the first quarter. Vanguard Group Inc. now owns 5,022,053 shares of the technology company’s stock valued at $2,134,423,000 after purchasing an additional 53,005 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Tyler Technologies by 3.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,309,715 shares of the technology company’s stock valued at $556,642,000 after buying an additional 41,485 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Tyler Technologies by 6.3% in the 1st quarter. Van ECK Associates Corp now owns 922,942 shares of the technology company’s stock valued at $392,259,000 after acquiring an additional 54,926 shares during the last quarter. Janus Henderson Group PLC grew its position in Tyler Technologies by 15.3% in the first quarter. Janus Henderson Group PLC now owns 532,935 shares of the technology company’s stock worth $226,501,000 after acquiring an additional 70,801 shares in the last quarter. Finally, Swedbank AB purchased a new position in Tyler Technologies in the second quarter worth about $251,390,000. 93.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TYL has been the subject of a number of recent research reports. JMP Securities lifted their target price on Tyler Technologies from $490.00 to $580.00 and gave the stock a “market outperform” rating in a report on Monday, July 22nd. Barclays lifted their price objective on shares of Tyler Technologies from $515.00 to $577.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. BTIG Research increased their target price 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 restated a “buy” rating and issued a $600.00 target price on shares of Tyler Technologies in a report on Thursday, July 25th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $627.00 price target on shares of Tyler Technologies in a report on Friday, September 13th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $582.31.

Tyler Technologies Price Performance

Shares of TYL stock opened at $585.15 on Wednesday. The company has a market capitalization of $24.84 billion, a P/E ratio of 132.39, a P/E/G ratio of 5.42 and a beta of 0.78. The company’s 50-day simple moving average is $573.06 and its two-hundred day simple moving average is $500.90. Tyler Technologies, Inc. has a one year low of $361.16 and a one year 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 announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.06. The company had revenue of $540.98 million for the quarter, compared to analysts’ expectations of $541.01 million. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. Tyler Technologies’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.53 earnings per share. As a group, equities analysts anticipate that Tyler Technologies, Inc. will post 7.21 EPS for the current year.

Insider Activity

In related news, Director Daniel M. Pope sold 275 shares of Tyler Technologies stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $578.26, for a total value 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 is accessible through this hyperlink. In other news, CEO H Lynn Moore, Jr. sold 6,250 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $576.49, for a total transaction of $3,603,062.50. Following the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at $43,236,750. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Daniel M. Pope sold 275 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $578.26, for a total transaction of $159,021.50. Following the completion of the transaction, the director now directly owns 3,218 shares of the company’s stock, valued at approximately $1,860,840.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,375 shares of company stock worth $17,049,739. Company insiders own 2.20% of the company’s stock.

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.