TimesSquare Capital Management LLC Trims Position in Tyler Technologies, Inc. (NYSE:TYL)

TimesSquare Capital Management LLC decreased its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 5.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 106,767 shares of the technology company’s stock after selling 5,781 shares during the period. TimesSquare Capital Management LLC’s holdings in Tyler Technologies were worth $61,566,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TYL. Creative Planning lifted its stake in shares of Tyler Technologies by 2.9% during the third quarter. Creative Planning now owns 24,051 shares of the technology company’s stock valued at $14,039,000 after buying an additional 686 shares during the period. Blue Trust Inc. lifted its stake in shares of Tyler Technologies by 432.9% during the third quarter. Blue Trust Inc. now owns 389 shares of the technology company’s stock valued at $227,000 after buying an additional 316 shares during the period. Signaturefd LLC lifted its stake in shares of Tyler Technologies by 19.7% during the third quarter. Signaturefd LLC now owns 627 shares of the technology company’s stock valued at $366,000 after buying an additional 103 shares during the period. Greenleaf Trust purchased a new position in shares of Tyler Technologies during the third quarter valued at approximately $249,000. Finally, Axecap Investments LLC purchased a new position in shares of Tyler Technologies during the third quarter valued at approximately $1,943,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Insider Activity

In other news, insider John S. Marr, Jr. sold 12,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $613.66, for a total value of $7,363,920.00. Following the completion of the transaction, the insider now directly owns 6,983 shares in the company, valued at approximately $4,285,187.78. This represents a 63.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brian K. Miller sold 2,500 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $632.01, for a total transaction of $1,580,025.00. Following the completion of the transaction, the chief financial officer now owns 12,198 shares of the company’s stock, valued at $7,709,257.98. This trade represents a 17.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,502 shares of company stock worth $18,941,368. 1.50% of the stock is currently owned by company insiders.

Tyler Technologies Price Performance

Tyler Technologies stock opened at $640.13 on Wednesday. Tyler Technologies, Inc. has a 52-week low of $397.80 and a 52-week high of $661.31. The firm has a fifty day moving average of $596.62 and a 200-day moving average of $594.99. The firm has a market capitalization of $27.40 billion, a P/E ratio of 105.63, a PEG ratio of 5.01 and a beta of 0.78. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. As a group, analysts predict that Tyler Technologies, Inc. will post 8.54 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $615.00 price target (down previously from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. JMP Securities upped their price target on shares of Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research report on Friday, October 25th. The Goldman Sachs Group upped their price target on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a research report on Tuesday. DA Davidson reaffirmed a “neutral” rating and set a $575.00 price target on shares of Tyler Technologies in a research report on Thursday, January 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $700.00 price target on shares of Tyler Technologies in a research report on Tuesday, January 21st. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Tyler Technologies currently has an average rating of “Moderate Buy” and an average target price of $676.25.

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.