SG Americas Securities LLC Reduces Stake in Tyler Technologies, Inc. (NYSE:TYL)

SG Americas Securities LLC cut its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 85.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,218 shares of the technology company’s stock after selling 6,899 shares during the quarter. SG Americas Securities LLC’s holdings in Tyler Technologies were worth $711,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Swedbank AB acquired a new position in Tyler Technologies during the second quarter valued at $251,390,000. Janus Henderson Group PLC boosted its stake in shares of 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 buying an additional 70,801 shares during the last quarter. Quantum Capital Management LLC NJ grew its holdings 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 worth $45,799,000 after acquiring an additional 69,189 shares during the period. Price T Rowe Associates Inc. MD raised its position in Tyler Technologies by 18.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 424,982 shares of the technology company’s stock valued at $180,622,000 after acquiring an additional 65,814 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Tyler Technologies by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 4,969,048 shares of the technology company’s stock valued at $2,077,658,000 after acquiring an additional 55,629 shares during the period. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Tyler Technologies Price Performance

Shares of NYSE TYL opened at $594.41 on Monday. The stock has a market capitalization of $25.36 billion, a price-to-earnings ratio of 122.81, a price-to-earnings-growth ratio of 5.42 and a beta of 0.78. Tyler Technologies, Inc. has a 52 week low of $361.16 and a 52 week high of $598.93. The firm has a 50-day simple moving average of $581.46 and a 200-day simple moving average of $515.81. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.19.

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

Insider Buying and Selling

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 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Daniel M. Pope sold 275 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 3,218 shares of the company’s stock, valued at approximately $1,860,840.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at $43,236,750. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,375 shares of company stock worth $17,049,739. Insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $600.00 target price on shares of Tyler Technologies in a report on Thursday, July 25th. Barclays raised shares of Tyler Technologies from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $577.00 to $700.00 in a report on Monday, October 7th. Oppenheimer increased their target price on shares of Tyler Technologies from $550.00 to $625.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. The Goldman Sachs Group restated a “buy” rating and issued a $627.00 price target on shares of Tyler Technologies in a research note on Friday, September 13th. Finally, Piper Sandler increased their price target on Tyler Technologies from $529.00 to $625.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Tyler Technologies presently has an average rating of “Moderate Buy” and an average price target of $591.77.

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.