Tyler Technologies, Inc. $TYL Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. decreased its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 2.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 232,226 shares of the technology company’s stock after selling 4,908 shares during the period. Federated Hermes Inc. owned about 0.54% of Tyler Technologies worth $121,491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Root Financial Partners LLC purchased a new position in Tyler Technologies during the third quarter valued at $28,000. Generali Asset Management SPA SGR purchased a new position in Tyler Technologies in the 2nd quarter valued at about $30,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Tyler Technologies in the 2nd quarter worth about $32,000. Advisors Asset Management Inc. purchased a new stake in Tyler Technologies during the 1st quarter worth approximately $38,000. Finally, Geneos Wealth Management Inc. increased its stake in Tyler Technologies by 137.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 69 shares of the technology company’s stock worth $40,000 after buying an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Trading Down 3.1%

Shares of TYL stock opened at $426.07 on Wednesday. The company’s 50-day moving average price is $453.45 and its 200-day moving average price is $504.76. The stock has a market cap of $18.33 billion, a price-to-earnings ratio of 59.26, a PEG ratio of 2.96 and a beta of 0.91. Tyler Technologies, Inc. has a twelve month low of $421.42 and a twelve month high of $661.31.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, October 29th. The technology company reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.88 by $0.09. Tyler Technologies had a net margin of 13.72% and a return on equity of 10.57%. The firm had revenue of $595.88 million during the quarter, compared to analysts’ expectations of $594.34 million. During the same period last year, the business earned $2.52 earnings per share. Tyler Technologies’s revenue was up 10.2% compared to the same quarter last year. As a group, equities research analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TYL. Wells Fargo & Company lowered their price target on Tyler Technologies from $525.00 to $470.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 8th. Robert W. Baird set a $660.00 price objective on Tyler Technologies in a report on Friday, October 31st. The Goldman Sachs Group started coverage on shares of Tyler Technologies in a report on Tuesday, January 13th. They set a “buy” rating and a $560.00 target price for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Tyler Technologies in a research note on Friday, January 9th. Finally, DA Davidson lowered their price target on shares of Tyler Technologies from $540.00 to $510.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 9th. Twelve investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $611.14.

Insider Buying and Selling

In other Tyler Technologies news, CFO Brian K. Miller sold 1,000 shares of Tyler Technologies stock in a transaction on Monday, December 15th. The stock was sold at an average price of $448.51, for a total value of $448,510.00. Following the sale, the chief financial officer owned 17,148 shares in the company, valued at $7,691,049.48. The trade was a 5.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Glenn A. Carter sold 500 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $458.73, for a total value of $229,365.00. Following the transaction, the director owned 3,172 shares of the company’s stock, valued at approximately $1,455,091.56. This represents a 13.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,500 shares of company stock valued at $1,605,605 in the last 90 days. Insiders own 1.10% of the company’s stock.

About Tyler Technologies

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler’s product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.