Verdence Capital Advisors LLC Lowers Stake in Tyler Technologies, Inc. (NYSE:TYL)

Verdence Capital Advisors LLC lowered its position in Tyler Technologies, Inc. (NYSE:TYL) by 4.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 467 shares of the technology company’s stock after selling 24 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Tyler Technologies were worth $273,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Independence Bank of Kentucky bought a new position in Tyler Technologies in the second quarter worth about $25,000. Covestor Ltd boosted its holdings in Tyler Technologies by 153.6% in the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock valued at $30,000 after purchasing an additional 43 shares during the last quarter. Blue Trust Inc. grew its holdings in Tyler Technologies by 329.4% during the second quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after acquiring an additional 56 shares during the period. Lynx Investment Advisory acquired a new stake in shares of Tyler Technologies during the 2nd quarter worth approximately $38,000. Finally, International Assets Investment Management LLC purchased a new position in Tyler Technologies in the second quarter valued at $61,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Insider Transactions at Tyler Technologies

In other news, insider John S. Marr, Jr. sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $578.94, for a total value of $2,894,700.00. Following the completion of the transaction, the insider now owns 6,983 shares in the company, valued at approximately $4,042,738.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Tyler Technologies news, CFO Brian K. Miller sold 2,500 shares of Tyler Technologies stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $586.97, for a total value of $1,467,425.00. Following the transaction, the chief financial officer now directly owns 11,950 shares in the company, valued at approximately $7,014,291.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John S. Marr, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $578.94, for a total value of $2,894,700.00. Following the sale, the insider now directly owns 6,983 shares of the company’s stock, valued at approximately $4,042,738.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,600 shares of company stock valued at $19,307,295. Corporate insiders own 2.20% of the company’s stock.

Tyler Technologies Stock Performance

Shares of TYL stock opened at $619.57 on Wednesday. The stock has a market capitalization of $26.52 billion, a PE ratio of 113.06, a P/E/G ratio of 5.62 and a beta of 0.77. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies, Inc. has a 52 week low of $397.80 and a 52 week high of $631.43. The firm has a 50 day moving average of $592.25 and a two-hundred day moving average of $544.55.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.09. The company had revenue of $543.34 million during the quarter, compared to the consensus estimate of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.66 earnings per share. On average, research analysts predict that Tyler Technologies, Inc. will post 7.39 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on TYL. BTIG Research upped their price objective on shares of Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Barclays lifted their price objective on Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. JMP Securities increased their price target on shares of Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a research note on Friday, October 25th. DA Davidson increased their price target on Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $627.00 price objective on shares of Tyler Technologies in a report on Friday, September 13th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $642.62.

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.