Praesidium Investment Management Company LLC trimmed its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 5.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 258,698 shares of the technology company’s stock after selling 14,091 shares during the period. Tyler Technologies accounts for approximately 5.7% of Praesidium Investment Management Company LLC’s holdings, making the stock its 8th largest position. Praesidium Investment Management Company LLC’s holdings in Tyler Technologies were worth $109,825,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Asset Advisory Services LLC bought a new stake in shares of Tyler Technologies during the 4th quarter worth $28,000. Atwood & Palmer Inc. bought a new stake in Tyler Technologies in the 1st quarter valued at $42,000. Sandy Spring Bank bought a new stake in Tyler Technologies in the 1st quarter valued at $47,000. CSat Investment Advisory L.P. boosted its holdings in Tyler Technologies by 65.3% in the 1st quarter. CSat Investment Advisory L.P. now owns 119 shares of the technology company’s stock valued at $51,000 after purchasing an additional 47 shares during the period. Finally, CWM LLC boosted its holdings in Tyler Technologies by 77.6% in the 1st quarter. CWM LLC now owns 135 shares of the technology company’s stock valued at $57,000 after purchasing an additional 59 shares during the period. 90.98% of the stock is owned by institutional investors and hedge funds.
Shares of Tyler Technologies stock traded up $6.22 during mid-day trading on Thursday, reaching $491.90. 1,196 shares of the stock were exchanged, compared to its average volume of 165,937. The company has a market capitalization of $20.04 billion, a P/E ratio of 110.13 and a beta of 0.58. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 0.29. The company has a 50-day simple moving average of $435.84. Tyler Technologies, Inc. has a fifty-two week low of $319.58 and a fifty-two week high of $489.79.
A number of analysts have weighed in on the stock. Piper Sandler increased their price target on shares of Tyler Technologies from $505.00 to $525.00 and gave the company an “overweight” rating in a report on Tuesday, June 8th. BTIG Research reissued a “hold” rating on shares of Tyler Technologies in a report on Tuesday, June 8th. Robert W. Baird increased their price objective on shares of Tyler Technologies from $500.00 to $575.00 and gave the company an “outperform” rating in a research note on Wednesday, July 14th. They noted that the move was a valuation call. Needham & Company LLC restated a “buy” rating and issued a $480.00 price objective on shares of Tyler Technologies in a research note on Tuesday, June 8th. Finally, Zacks Investment Research upgraded shares of Tyler Technologies from a “sell” rating to a “strong-buy” rating and set a $479.00 price objective for the company in a research note on Thursday, June 10th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Tyler Technologies presently has a consensus rating of “Buy” and a consensus price target of $471.00.
In related news, CFO Brian K. Miller sold 3,500 shares of Tyler Technologies stock in a transaction that occurred on Tuesday, June 15th. The shares were sold at an average price of $430.62, for a total transaction of $1,507,170.00. Following the transaction, the chief financial officer now owns 29,893 shares of the company’s stock, valued at approximately $12,872,523.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman John S. Marr, Jr. sold 16,092 shares of Tyler Technologies stock in a transaction that occurred on Monday, June 14th. The stock was sold at an average price of $430.45, for a total transaction of $6,926,801.40. Following the transaction, the chairman now directly owns 58,361 shares in the company, valued at approximately $25,121,492.45. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,527 shares of company stock worth $19,564,271. Insiders own 2.70% of the company’s stock.
Tyler Technologies Profile
Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. The company operates in two segments, Enterprise Software, and Appraisal and Tax. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools.
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