Blueshift Asset Management LLC Cuts Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Blueshift Asset Management LLC trimmed its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 12.7% during the third quarter, Holdings Channel.com reports. The fund owned 2,104 shares of the technology company’s stock after selling 307 shares during the quarter. Blueshift Asset Management LLC’s holdings in Tyler Technologies were worth $1,228,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in Tyler Technologies during the third quarter worth $27,000. Independence Bank of Kentucky purchased a new stake in Tyler Technologies during the second quarter worth about $25,000. Blue Trust Inc. raised its position in Tyler Technologies by 329.4% in 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 purchased a new position in Tyler Technologies in the second quarter valued at about $38,000. Finally, International Assets Investment Management LLC bought a new position in shares of Tyler Technologies during the 2nd quarter valued at approximately $61,000. 93.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TYL has been the topic of several research analyst reports. Piper Sandler upped their price objective on Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. StockNews.com cut Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. JMP Securities lifted their price objective on Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a report on Friday, October 25th. Needham & Company LLC upped their price objective on shares of Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, DA Davidson lifted their target price on shares of Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Tyler Technologies has an average rating of “Moderate Buy” and an average price target of $642.62.

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 2,500 shares of the business’s stock in a transaction dated 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 owns 11,950 shares in the company, valued at approximately $7,014,291.50. The trade was a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John S. Marr, Jr. sold 12,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the sale, the insider now owns 6,983 shares of the company’s stock, valued at approximately $4,285,187.78. This represents a 63.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,600 shares of company stock worth $23,776,515. Company insiders own 1.50% of the company’s stock.

Tyler Technologies Price Performance

Shares of Tyler Technologies stock opened at $635.22 on Wednesday. The business’s 50-day moving average price is $595.99 and its 200-day moving average price is $553.15. The firm has a market capitalization of $27.19 billion, a PE ratio of 115.92, a price-to-earnings-growth ratio of 5.65 and a beta of 0.77. Tyler Technologies, Inc. has a 12 month low of $397.80 and a 12 month high of $635.40. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.43 by $0.09. The company had revenue of $543.34 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the firm earned $1.66 EPS. Sell-side analysts forecast that Tyler Technologies, Inc. will post 7.36 EPS for the current fiscal year.

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.