Tyler Technologies, Inc. (NYSE:TYL) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 1.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 169,649 shares of the technology company’s stock after selling 1,932 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.40% of Tyler Technologies worth $85,296,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. raised its holdings in Tyler Technologies by 3.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 29,606 shares of the technology company’s stock worth $14,885,000 after purchasing an additional 1,044 shares in the last quarter. Leelyn Smith LLC increased its holdings in shares of Tyler Technologies by 1.9% in the 2nd quarter. Leelyn Smith LLC now owns 2,144 shares of the technology company’s stock valued at $1,078,000 after acquiring an additional 40 shares during the period. Thoroughbred Financial Services LLC acquired a new position in shares of Tyler Technologies in the 2nd quarter valued at $1,030,000. Meeder Advisory Services Inc. increased its holdings in shares of Tyler Technologies by 48.4% in the 2nd quarter. Meeder Advisory Services Inc. now owns 849 shares of the technology company’s stock valued at $427,000 after acquiring an additional 277 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Tyler Technologies by 500.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 25,379 shares of the technology company’s stock valued at $12,466,000 after acquiring an additional 21,150 shares during the period. Institutional investors and hedge funds own 93.30% of the company’s stock.

Insider Buying and Selling

In related news, CEO H Lynn Moore, Jr. sold 6,250 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 75,000 shares in the company, valued at approximately $43,236,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO H Lynn Moore, Jr. sold 6,250 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 75,000 shares in the company, valued at approximately $43,236,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel M. Pope sold 275 shares of the business’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 owns 3,218 shares in the company, valued at $1,860,840.68. The disclosure for this sale can be found here. Insiders have sold 29,375 shares of company stock worth $17,049,739 in the last three months. Corporate insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

TYL has been the topic of a number of recent research reports. JMP Securities lifted their target price on shares of Tyler Technologies from $490.00 to $580.00 and gave the company a “market outperform” rating in a report on Monday, July 22nd. Truist Financial reaffirmed a “buy” rating and issued a $600.00 target price (up from $560.00) on shares of Tyler Technologies in a report on Friday, July 26th. Needham & Company LLC reiterated a “buy” rating and issued a $600.00 price objective on shares of Tyler Technologies in a research report on Thursday, July 25th. Barclays lifted their price objective on shares of Tyler Technologies from $515.00 to $577.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Finally, Evercore ISI upgraded shares of Tyler Technologies to a “hold” rating in a research report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $582.31.

Tyler Technologies Price Performance

Shares of NYSE TYL opened at $579.39 on Wednesday. The firm has a market capitalization of $24.72 billion, a P/E ratio of 131.08, a PEG ratio of 5.39 and a beta of 0.78. Tyler Technologies, Inc. has a one year low of $361.16 and a one year high of $598.93. The company’s fifty day moving average is $565.50 and its two-hundred day moving average is $494.37. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.06 and a current ratio of 1.06.

Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, July 24th. The technology company reported $2.40 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 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 in the previous year, the firm earned $1.53 EPS. Analysts forecast that Tyler Technologies, Inc. will post 7.21 EPS for the current fiscal year.

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.