Tyler Technologies, Inc. $TYL Position Reduced by ProShare Advisors LLC

ProShare Advisors LLC lowered its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 14.0% in the third quarter, HoldingsChannel reports. The fund owned 7,922 shares of the technology company’s stock after selling 1,288 shares during the period. ProShare Advisors LLC’s holdings in Tyler Technologies were worth $2,524,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in TYL. Vise Technologies Inc. acquired a new stake in shares of Tyler Technologies in the third quarter valued at approximately $464,000. CHICAGO TRUST Co NA lifted its position in shares of Tyler Technologies by 22.6% in the third quarter. CHICAGO TRUST Co NA now owns 3,166 shares of the technology company’s stock worth $1,009,000 after purchasing an additional 583 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Tyler Technologies during the third quarter worth $1,147,000. V Square Quantitative Management LLC boosted its holdings in Tyler Technologies by 16.6% during the third quarter. V Square Quantitative Management LLC now owns 1,192 shares of the technology company’s stock worth $380,000 after purchasing an additional 170 shares during the last quarter. Finally, CX Institutional boosted its holdings in Tyler Technologies by 13.3% during the third quarter. CX Institutional now owns 952 shares of the technology company’s stock worth $303,000 after purchasing an additional 112 shares during the last quarter. 93.30% of the stock is owned by institutional investors.

Tyler Technologies Stock Performance

NYSE TYL traded down $10.04 on Friday, hitting $420.33. 738,585 shares of the stock were exchanged, compared to its average volume of 793,027. The company has a market capitalization of $16.71 billion, a PE ratio of 52.94, a P/E/G ratio of 2.66 and a beta of 0.74. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.33 and a quick ratio of 1.33. The business’s fifty day moving average is $357.96 and its 200 day moving average is $336.87. Tyler Technologies, Inc. has a 52 week low of $270.71 and a 52 week high of $481.57.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, October 28th. The technology company reported $3.52 EPS for the quarter, beating analysts’ consensus estimates of $3.48 by $0.04. The company had revenue of $647.57 million during the quarter, compared to the consensus estimate of $651.38 million. Tyler Technologies had a net margin of 13.51% and a return on equity of 12.21%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.91 EPS. Research analysts anticipate that Tyler Technologies, Inc. will post 10.11 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on TYL. Wells Fargo & Company raised their target price on shares of Tyler Technologies from $400.00 to $430.00 and gave the company an “overweight” rating in a research report on Friday, October 30th. Needham & Company LLC increased their price objective on shares of Tyler Technologies from $400.00 to $500.00 and gave the stock a “buy” rating in a research note on Tuesday, October 27th. Guggenheim assumed coverage on Tyler Technologies in a report on Wednesday, July 22nd. They issued a “buy” rating and a $440.00 price objective for the company. TD Cowen lifted their target price on Tyler Technologies from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Monday, October 26th. Finally, DA Davidson reiterated a “buy” rating and set a $460.00 target price on shares of Tyler Technologies in a report on Tuesday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Tyler Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $440.88.

Insider Activity at Tyler Technologies

In related news, COO Jeffrey Puckett sold 10,000 shares of Tyler Technologies stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $419.69, for a total transaction of $4,196,900.00. Following the completion of the transaction, the chief operating officer owned 7,800 shares in the company, valued at approximately $3,273,582. This trade represents a 56.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO H. Moore, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $393.17, for a total value of $3,931,700.00. Following the transaction, the chief executive officer directly owned 100,392 shares in the company, valued at approximately $39,471,122.64. This trade represents a 9.06% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 38,430 shares of company stock worth $14,883,788. Insiders own 1.10% of the company’s stock.

Tyler Technologies Company Profile

Tyler Technologies, Inc provides integrated software and technology services to public-sector organizations. Its customers include municipalities, counties, states, courts, school districts, public safety agencies, and other government entities. The company’s solutions are designed to help public organizations manage operations, improve service delivery, and engage with residents and constituents.

Tyler’s product portfolio includes enterprise resource planning and financial management software, property tax and appraisal systems, court and justice solutions, public safety and emergency communications platforms, permitting and licensing tools, and software for schools and elections.