Geneva Capital Management LLC Sells 2,601 Shares of Tyler Technologies, Inc. $TYL

Geneva Capital Management LLC trimmed its position in Tyler Technologies, Inc. (NYSE:TYL) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 235,647 shares of the technology company’s stock after selling 2,601 shares during the quarter. Tyler Technologies accounts for 2.1% of Geneva Capital Management LLC’s holdings, making the stock its 13th largest holding. Geneva Capital Management LLC’s holdings in Tyler Technologies were worth $123,281,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TYL. Root Financial Partners LLC bought a new stake in shares of Tyler Technologies in the third quarter valued at about $28,000. Twin Peaks Wealth Advisors LLC purchased a new position in Tyler Technologies during the 2nd quarter valued at about $32,000. Advisors Asset Management Inc. bought a new stake in shares of Tyler Technologies in the 1st quarter valued at about $38,000. Geneos Wealth Management Inc. raised its holdings in shares of Tyler Technologies by 137.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 69 shares of the technology company’s stock valued at $40,000 after purchasing an additional 40 shares in the last quarter. Finally, Quent Capital LLC purchased a new stake in shares of Tyler Technologies in the 3rd quarter worth approximately $49,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TYL shares. TD Cowen cut their price objective on shares of Tyler Technologies from $600.00 to $500.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Piper Sandler reaffirmed an “overweight” rating and set a $543.00 target price (down from $671.00) on shares of Tyler Technologies in a research report on Friday, February 13th. Barclays cut their price target on Tyler Technologies from $715.00 to $410.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Tyler Technologies in a research report on Friday, January 9th. Finally, BTIG Research decreased their price objective on Tyler Technologies from $560.00 to $470.00 and set a “buy” rating for the company in a research note on Monday, February 9th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $467.54.

Insider Activity at Tyler Technologies

In related news, CFO Brian K. Miller sold 1,000 shares of the company’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $458.65, for a total transaction of $458,650.00. Following the transaction, the chief financial officer directly owned 16,148 shares of the company’s stock, valued at $7,406,280.20. This represents a 5.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Jeffrey David Puckett sold 5,174 shares of the firm’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $369.93, for a total value of $1,914,017.82. Following the completion of the sale, the chief operating officer directly owned 7,754 shares of the company’s stock, valued at approximately $2,868,437.22. This represents a 40.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 8,174 shares of company stock worth $3,228,243 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Tyler Technologies Stock Down 3.4%

NYSE TYL opened at $354.79 on Wednesday. Tyler Technologies, Inc. has a 52 week low of $283.71 and a 52 week high of $621.34. The company has a 50 day moving average price of $384.01 and a 200 day moving average price of $456.84. The firm has a market cap of $15.25 billion, a PE ratio of 49.28, a price-to-earnings-growth ratio of 2.47 and a beta of 0.90.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, February 11th. The technology company reported $2.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.07). The firm had revenue of $575.18 million during the quarter, compared to analysts’ expectations of $591.09 million. Tyler Technologies had a return on equity of 10.42% and a net margin of 13.53%.Tyler Technologies’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.43 earnings per share. On average, equities research analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

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.