Tyler Technologies, Inc. (NYSE:TYL) Shares Sold by Brown Capital Management LLC

Brown Capital Management LLC cut its stake in Tyler Technologies, Inc. (NYSE:TYL) by 19.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 373,384 shares of the technology company’s stock after selling 90,649 shares during the period. Tyler Technologies accounts for approximately 4.7% of Brown Capital Management LLC’s holdings, making the stock its 3rd largest holding. Brown Capital Management LLC’s holdings in Tyler Technologies were worth $217,952,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Covestor Ltd grew its holdings in Tyler Technologies by 153.6% during the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after acquiring an additional 43 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in shares of Tyler Technologies by 143.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,794 shares of the technology company’s stock worth $762,000 after purchasing an additional 1,058 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of Tyler Technologies by 39.4% in the 1st quarter. Bessemer Group Inc. now owns 6,840 shares of the technology company’s stock worth $2,906,000 after purchasing an additional 1,935 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Tyler Technologies by 2.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 17,040 shares of the technology company’s stock valued at $7,237,000 after purchasing an additional 449 shares during the last quarter. Finally, Natixis boosted its holdings in Tyler Technologies by 114.0% during the first quarter. Natixis now owns 2,253 shares of the technology company’s stock worth $958,000 after buying an additional 1,200 shares in the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

Insider Buying and Selling at Tyler Technologies

In other news, CFO Brian K. Miller sold 2,500 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $624.41, for a total transaction of $1,561,025.00. Following the transaction, the chief financial officer now owns 11,950 shares in the company, valued at $7,461,699.50. This represents a 17.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of Tyler Technologies stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at approximately $43,246,500. The trade was a 6.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,600 shares of company stock worth $16,412,595 over the last 90 days. 2.20% of the stock is currently owned by corporate insiders.

Tyler Technologies Stock Performance

TYL stock opened at $601.14 on Thursday. The firm has a 50 day simple moving average of $594.40 and a 200 day simple moving average of $549.91. Tyler Technologies, Inc. has a 52 week low of $397.80 and a 52 week high of $631.43. The stock has a market cap of $25.73 billion, a P/E ratio of 109.70, a P/E/G ratio of 5.41 and a beta of 0.77. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21.

Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The company had revenue of $543.34 million during the quarter, compared to analyst estimates of $547.34 million. During the same quarter last year, the business posted $1.66 EPS. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. Research analysts anticipate that Tyler Technologies, Inc. will post 7.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TYL has been the subject of a number of recent research reports. Evercore ISI upgraded Tyler Technologies to a “hold” rating in a research report on Friday, July 26th. Piper Sandler increased their price target on Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Wells Fargo & Company lifted their price target on Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Needham & Company LLC upped their price objective on shares of Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com downgraded shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $642.62.

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.