Reliant Investment Management LLC Lowers Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Reliant Investment Management LLC lessened its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 1.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,204 shares of the technology company’s stock after selling 184 shares during the quarter. Tyler Technologies comprises approximately 3.6% of Reliant Investment Management LLC’s portfolio, making the stock its 7th biggest holding. Reliant Investment Management LLC’s holdings in Tyler Technologies were worth $7,707,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of TYL. Atomi Financial Group Inc. grew its position in shares of Tyler Technologies by 20.2% in the third quarter. Atomi Financial Group Inc. now owns 1,643 shares of the technology company’s stock valued at $959,000 after purchasing an additional 276 shares in the last quarter. GAMMA Investing LLC boosted its stake in Tyler Technologies by 22.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,111 shares of the technology company’s stock worth $649,000 after purchasing an additional 207 shares during the period. Czech National Bank grew its holdings in Tyler Technologies by 7.4% during the 3rd quarter. Czech National Bank now owns 8,692 shares of the technology company’s stock valued at $5,074,000 after buying an additional 602 shares in the last quarter. Quent Capital LLC increased its position in shares of Tyler Technologies by 335.0% during the third quarter. Quent Capital LLC now owns 174 shares of the technology company’s stock valued at $102,000 after buying an additional 134 shares during the period. Finally, Paragon Capital Management Inc. lifted its holdings in shares of Tyler Technologies by 6.3% in the second quarter. Paragon Capital Management Inc. now owns 3,602 shares of the technology company’s stock worth $1,811,000 after buying an additional 214 shares in the last quarter. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Stock Up 2.1 %

Shares of TYL opened at $593.75 on Wednesday. Tyler Technologies, Inc. has a 1 year low of $361.16 and a 1 year high of $598.93. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a 50 day simple moving average of $580.32 and a two-hundred day simple moving average of $512.20. The firm has a market cap of $25.21 billion, a P/E ratio of 134.33, a P/E/G ratio of 5.40 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.06. The company 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 firm’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.53 EPS. On average, analysts forecast that Tyler Technologies, Inc. will post 7.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on TYL shares. The Goldman Sachs Group reaffirmed a “buy” rating and set a $627.00 target price on shares of Tyler Technologies in a report on Friday, September 13th. JMP Securities increased their price objective on Tyler Technologies from $490.00 to $580.00 and gave the stock a “market outperform” rating in a research report on Monday, July 22nd. DA Davidson lifted their price objective on Tyler Technologies from $456.00 to $525.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Barclays upgraded Tyler Technologies from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $577.00 to $700.00 in a research note on Monday. Finally, Oppenheimer lifted their price target on Tyler Technologies from $550.00 to $625.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $591.77.

Insider Activity

In related news, CEO H Lynn Moore, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $576.62, for a total transaction of $2,883,100.00. Following the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at $43,246,500. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO H Lynn Moore, Jr. sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $576.62, for a total transaction of $2,883,100.00. Following the completion of the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $43,246,500. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at approximately $43,236,750. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,375 shares of company stock valued at $17,049,739. Insiders own 2.20% of the company’s stock.

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.