Thrivent Financial for Lutherans Decreases Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Thrivent Financial for Lutherans lowered its stake in Tyler Technologies, Inc. (NYSE:TYL) by 19.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 209,428 shares of the technology company’s stock after selling 51,490 shares during the period. Thrivent Financial for Lutherans owned 0.49% of Tyler Technologies worth $105,296,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Commonwealth Equity Services LLC raised its holdings in shares of Tyler Technologies by 119.2% in the first quarter. Commonwealth Equity Services LLC now owns 6,517 shares of the technology company’s stock worth $2,770,000 after buying an additional 3,544 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Tyler Technologies by 39.4% in the first quarter. Bessemer Group Inc. now owns 6,840 shares of the technology company’s stock worth $2,906,000 after buying an additional 1,935 shares during the last quarter. Rafferty Asset Management LLC raised its holdings in shares of Tyler Technologies by 26.8% in the fourth quarter. Rafferty Asset Management LLC now owns 13,972 shares of the technology company’s stock worth $5,842,000 after buying an additional 2,951 shares during the last quarter. APG Asset Management US Inc. purchased a new position in shares of Tyler Technologies during the fourth quarter worth $57,493,000. Finally, State Board of Administration of Florida Retirement System raised its holdings in shares of Tyler Technologies by 7.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 46,724 shares of the technology company’s stock worth $19,858,000 after purchasing an additional 3,198 shares during the last quarter. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Stock Down 0.4 %

Shares of NYSE TYL opened at $577.80 on Friday. The company’s 50-day simple moving average is $570.67 and its 200-day simple moving average is $498.05. Tyler Technologies, Inc. has a 52-week low of $361.16 and a 52-week high of $598.93. The firm has a market cap of $24.53 billion, a price-to-earnings ratio of 130.72, a price-to-earnings-growth ratio of 5.42 and a beta of 0.78. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.19.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.06. The firm 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%. Tyler Technologies’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.53 earnings per share. Equities analysts predict that Tyler Technologies, Inc. will post 7.21 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO H Lynn Moore, Jr. sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO H Lynn Moore, Jr. sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel M. Pope sold 275 shares of Tyler Technologies 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 transaction, the director now directly owns 3,218 shares in the company, valued at $1,860,840.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,375 shares of company stock worth $17,049,739. 2.20% of the stock is owned by insiders.

Analyst Ratings Changes

TYL has been the subject of several recent research reports. Wells Fargo & Company raised their target price on shares of Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Needham & Company LLC reissued a “buy” rating and set a $600.00 target price on shares of Tyler Technologies in a report on Thursday, July 25th. 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. Piper Sandler raised their target price on shares of Tyler Technologies from $529.00 to $625.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, Truist Financial reissued a “buy” rating and set a $600.00 target price (up previously from $560.00) on shares of Tyler Technologies in a report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $582.31.

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.