EP Wealth Advisors LLC Lowers Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

EP Wealth Advisors LLC lowered its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 22.3% in the second quarter, Holdings Channel.com reports. The firm owned 515 shares of the technology company’s stock after selling 148 shares during the period. EP Wealth Advisors LLC’s holdings in Tyler Technologies were worth $259,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TYL. KBC Group NV boosted its holdings in Tyler Technologies by 13.7% in the fourth quarter. KBC Group NV now owns 9,569 shares of the technology company’s stock valued at $4,001,000 after acquiring an additional 1,156 shares during the last quarter. NEOS Investment Management LLC acquired a new position in shares of Tyler Technologies in the fourth quarter worth about $249,000. Rafferty Asset Management LLC lifted its stake in shares of Tyler Technologies by 26.8% in the fourth quarter. Rafferty Asset Management LLC now owns 13,972 shares of the technology company’s stock worth $5,842,000 after acquiring an additional 2,951 shares in the last quarter. Royal London Asset Management Ltd. lifted its stake in shares of Tyler Technologies by 6.0% in the fourth quarter. Royal London Asset Management Ltd. now owns 16,454 shares of the technology company’s stock worth $6,880,000 after acquiring an additional 934 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Tyler Technologies by 23.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 237,677 shares of the technology company’s stock worth $99,378,000 after acquiring an additional 44,680 shares in the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TYL. Piper Sandler boosted their price objective on Tyler Technologies from $529.00 to $625.00 and gave the company an “overweight” rating in a report on Friday, July 26th. JMP Securities boosted their price objective on Tyler Technologies from $490.00 to $580.00 and gave the company a “market outperform” rating in a report on Monday, July 22nd. Oppenheimer boosted their price objective on Tyler Technologies from $550.00 to $625.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Wells Fargo & Company boosted their price objective on Tyler Technologies from $580.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, DA Davidson upped their target price on Tyler Technologies from $456.00 to $525.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Tyler Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $582.31.

Tyler Technologies Stock Performance

Shares of TYL stock opened at $579.45 on Friday. Tyler Technologies, Inc. has a 12-month low of $361.16 and a 12-month high of $598.93. The firm has a market capitalization of $24.60 billion, a price-to-earnings ratio of 131.10, a price-to-earnings-growth ratio of 5.34 and a beta of 0.78. The business has a 50 day simple moving average of $579.84 and a 200 day simple moving average of $508.63. 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 issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.06. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The business had revenue of $540.98 million during the quarter, compared to analyst estimates of $541.01 million. During the same period in the prior year, the company posted $1.53 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities research analysts anticipate that Tyler Technologies, Inc. will post 7.21 EPS for the current year.

Insider Buying and Selling

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,250 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 75,000 shares in the company, valued at $43,236,750. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $576.62, for a total value of $2,883,100.00. Following the completion of the sale, the chief executive officer now directly owns 75,000 shares in the company, valued at $43,246,500. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at $43,236,750. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,375 shares of company stock valued at $17,049,739 in the last three months. 2.20% of the stock is currently owned by corporate insiders.

About Tyler Technologies

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.