Hsbc Holdings PLC Sells 5,054 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Hsbc Holdings PLC lessened its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 6.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 68,142 shares of the technology company’s stock after selling 5,054 shares during the period. Hsbc Holdings PLC owned about 0.16% of Tyler Technologies worth $34,243,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in TYL. Swedbank AB acquired a new stake in Tyler Technologies during the second quarter worth approximately $251,390,000. APG Asset Management US Inc. bought a new position in shares of Tyler Technologies in the fourth quarter worth $57,493,000. Janus Henderson Group PLC raised its stake in Tyler Technologies by 15.3% in the first quarter. Janus Henderson Group PLC now owns 532,935 shares of the technology company’s stock valued at $226,501,000 after purchasing an additional 70,801 shares in the last quarter. Quantum Capital Management LLC NJ lifted its position 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 purchasing an additional 69,189 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake 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 worth $180,622,000 after buying an additional 65,814 shares in the last quarter. 93.30% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Tyler Technologies news, CFO Brian K. Miller sold 2,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $567.96, for a total value of $1,135,920.00. Following the sale, the chief financial officer now owns 11,950 shares in the company, valued at approximately $6,787,122. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Brian K. Miller sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $567.96, for a total transaction of $1,135,920.00. Following the completion of the transaction, the chief financial officer now directly owns 11,950 shares in the company, valued at $6,787,122. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel M. Pope sold 275 shares of the company’s stock in a transaction that occurred 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 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 sold a total of 29,375 shares of company stock valued at $17,049,739 in the last three months. Insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on TYL shares. Piper Sandler boosted their target price on shares of Tyler Technologies from $529.00 to $625.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. JMP Securities upped their target price on Tyler Technologies from $490.00 to $580.00 and gave the stock a “market outperform” rating in a research note on Monday, July 22nd. Barclays raised their target price on Tyler Technologies from $515.00 to $577.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Oppenheimer boosted their price target on Tyler Technologies from $550.00 to $625.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $600.00 price objective on shares of Tyler Technologies in a research note on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $582.31.

Tyler Technologies Stock Performance

NYSE:TYL opened at $577.80 on Friday. The stock’s 50-day moving average is $570.67 and its 200-day moving average is $497.49. Tyler Technologies, Inc. has a 1-year low of $361.16 and a 1-year high of $598.93. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.19. The stock has a market cap of $24.53 billion, a P/E ratio of 130.72, a price-to-earnings-growth ratio of 5.42 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.06. The firm had revenue of $540.98 million during the quarter, compared to analysts’ expectations of $541.01 million. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. The company’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.53 EPS. Equities research analysts anticipate that Tyler Technologies, Inc. will post 7.21 earnings per share for the current 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.