Creative Planning Lowers Stake in Tyler Technologies, Inc. (NYSE:TYL)

Creative Planning decreased its position in Tyler Technologies, Inc. (NYSE:TYL) by 26.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,365 shares of the technology company’s stock after selling 8,275 shares during the quarter. Creative Planning owned 0.06% of Tyler Technologies worth $11,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Independence Bank of Kentucky bought a new stake in shares of Tyler Technologies in the 2nd quarter worth approximately $25,000. Kapitalo Investimentos Ltda bought a new stake in Tyler Technologies in the fourth quarter worth $26,000. Covestor Ltd lifted its stake in Tyler Technologies by 153.6% in the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after purchasing an additional 43 shares during the last quarter. Blue Trust Inc. boosted its position in Tyler Technologies by 329.4% during the second quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock valued at $37,000 after buying an additional 56 shares during the period. Finally, Lynx Investment Advisory bought a new position in shares of Tyler Technologies during the second quarter valued at about $38,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Insider Buying and Selling

In related news, Director Daniel M. Pope sold 275 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $578.26, for a total transaction of $159,021.50. Following 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 Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Brian K. Miller sold 2,000 shares of the firm’s stock in a transaction that occurred on 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 owns 11,950 shares of the company’s stock, valued at approximately $6,787,122. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 transaction, the director now 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. Insiders sold a total of 29,375 shares of company stock worth $17,049,739 in the last three months. 2.20% of the stock is owned by corporate insiders.

Tyler Technologies Stock Down 0.9 %

TYL stock opened at $578.64 on Wednesday. Tyler Technologies, Inc. has a fifty-two week low of $361.16 and a fifty-two week high of $598.93. The company has a market capitalization of $24.69 billion, a price-to-earnings ratio of 130.91, a price-to-earnings-growth ratio of 5.34 and a beta of 0.78. The business’s 50 day moving average price is $577.32 and its two-hundred day moving average price is $505.30. 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 quarterly earnings results on Wednesday, July 24th. The technology company reported $2.40 earnings per share 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 analysts’ expectations of $541.01 million. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.53 earnings per share. As a group, analysts forecast that Tyler Technologies, Inc. will post 7.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group restated a “buy” rating and set a $627.00 target price on shares of Tyler Technologies in a report on Friday, September 13th. JMP Securities raised their target price on shares of Tyler Technologies from $490.00 to $580.00 and gave the stock a “market outperform” rating in a report on Monday, July 22nd. Oppenheimer upped their price target on shares of Tyler Technologies from $550.00 to $625.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Piper Sandler increased their price target 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. Finally, Evercore ISI upgraded shares of Tyler Technologies to a “hold” rating in a research report on Friday, July 26th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Tyler Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $582.31.

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.