Tyler Technologies, Inc. (NYSE:TYL) Position Lessened by Inspire Investing LLC

Inspire Investing LLC decreased its stake in Tyler Technologies, Inc. (NYSE:TYL) by 22.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,493 shares of the technology company’s stock after selling 1,305 shares during the period. Inspire Investing LLC’s holdings in Tyler Technologies were worth $2,259,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Gilbert & Cook Inc. raised its stake in Tyler Technologies by 7.6% during the 4th quarter. Gilbert & Cook Inc. now owns 1,437 shares of the technology company’s stock valued at $601,000 after acquiring an additional 102 shares in the last quarter. Private Advisor Group LLC raised its stake in Tyler Technologies by 16.6% during the 4th quarter. Private Advisor Group LLC now owns 814 shares of the technology company’s stock valued at $340,000 after acquiring an additional 116 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Tyler Technologies by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 141,464 shares of the technology company’s stock valued at $59,150,000 after acquiring an additional 3,961 shares in the last quarter. Avantax Advisory Services Inc. raised its stake in Tyler Technologies by 5.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 670 shares of the technology company’s stock valued at $280,000 after acquiring an additional 33 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in Tyler Technologies by 0.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 10,965 shares of the technology company’s stock valued at $4,585,000 after acquiring an additional 34 shares in the last quarter. Institutional investors own 93.30% of the company’s stock.

Insider Activity

In related news, Director Daniel M. Pope sold 275 shares of Tyler Technologies stock in a transaction on 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 of the company’s stock, valued at $1,860,840.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO H Lynn Moore, Jr. sold 6,250 shares of Tyler Technologies stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $576.49, for a total transaction 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. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Daniel M. Pope sold 275 shares of Tyler Technologies stock in a transaction on Monday, July 29th. The shares were sold at an average price of $578.26, for a total value of $159,021.50. Following the sale, the director now directly owns 3,218 shares of the company’s stock, valued at approximately $1,860,840.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,375 shares of company stock worth $17,049,739. 2.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Evercore ISI raised Tyler Technologies to a “hold” rating in a research note on Friday, July 26th. BTIG Research boosted their price objective on Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Needham & Company LLC reissued a “buy” rating and issued a $600.00 price objective on shares of Tyler Technologies in a research note on Thursday, July 25th. DA Davidson boosted their price objective on Tyler Technologies from $456.00 to $525.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Finally, Wells Fargo & Company boosted their price objective on Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Tyler Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $582.31.

Tyler Technologies Stock Performance

Shares of NYSE TYL opened at $579.49 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $24.73 billion, a price-to-earnings ratio of 131.11, a PEG ratio of 5.39 and a beta of 0.78. The stock’s fifty day simple moving average is $568.26 and its 200 day simple moving average is $495.94. Tyler Technologies, Inc. has a 52-week low of $361.16 and a 52-week high of $598.93.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.40 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $541.01 million. During the same quarter in the previous year, the company posted $1.53 earnings per share. Tyler Technologies’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Tyler Technologies, Inc. will post 7.21 earnings per share 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.