46,773 Tyler Technologies, Inc. $TYL Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its stake in Tyler Technologies, Inc. (NYSE:TYL) by 85.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,900 shares of the technology company’s stock after selling 46,773 shares during the period. Pictet Asset Management Holding SA’s holdings in Tyler Technologies were worth $2,517,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Tyler Technologies during the 2nd quarter worth $1,129,890,000. Bank of America Corp DE raised its stake in shares of Tyler Technologies by 10.5% in the 1st quarter. Bank of America Corp DE now owns 405,095 shares of the technology company’s stock valued at $138,696,000 after purchasing an additional 38,508 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Tyler Technologies by 13.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 400,775 shares of the technology company’s stock valued at $117,211,000 after purchasing an additional 48,832 shares in the last quarter. Deutsche Bank AG bought a new position in shares of Tyler Technologies during the second quarter worth about $88,645,000. Finally, Wellington Management Group LLP lifted its position in shares of Tyler Technologies by 88.1% during the second quarter. Wellington Management Group LLP now owns 254,391 shares of the technology company’s stock worth $74,399,000 after purchasing an additional 119,127 shares during the last quarter. 93.30% of the stock is owned by institutional investors and hedge funds.

Tyler Technologies Stock Performance

Shares of NYSE TYL traded up $0.27 during midday trading on Friday, hitting $423.86. The company’s stock had a trading volume of 394,917 shares, compared to its average volume of 899,609. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.33 and a current ratio of 1.33. Tyler Technologies, Inc. has a 1-year low of $270.71 and a 1-year high of $481.57. The firm’s fifty day moving average price is $362.53 and its 200-day moving average price is $336.56. The firm has a market cap of $16.85 billion, a P/E ratio of 53.38, a P/E/G ratio of 2.79 and a beta of 0.74.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, October 28th. The technology company reported $3.52 earnings per share for the quarter, topping the consensus estimate of $3.48 by $0.04. Tyler Technologies had a net margin of 13.51% and a return on equity of 12.21%. The firm had revenue of $647.57 million for the quarter, compared to analyst estimates of $651.38 million. During the same quarter in the prior year, the business earned $2.91 earnings per share. Tyler Technologies’s quarterly revenue was up 8.7% on a year-over-year basis. On average, sell-side analysts forecast that Tyler Technologies, Inc. will post 10.11 EPS for the current fiscal year.

Analyst Ratings Changes

TYL has been the subject of a number of research reports. BTIG Research lifted their price target on Tyler Technologies from $400.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, October 30th. Weiss Ratings upgraded Tyler Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 22nd. UBS Group set a $395.00 target price on Tyler Technologies in a report on Saturday, August 1st. Needham & Company LLC increased their target price on Tyler Technologies from $400.00 to $500.00 and gave the stock a “buy” rating in a report on Tuesday, October 27th. Finally, DA Davidson reiterated a “buy” rating and issued a $460.00 target price on shares of Tyler Technologies in a research report on Tuesday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $440.88.

Insider Activity

In related news, COO Jeffrey Puckett sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $419.69, for a total value of $4,196,900.00. Following the sale, the chief operating officer owned 7,800 shares of the company’s stock, valued at approximately $3,273,582. This trade represents a 56.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Daniel M. Pope sold 680 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $407.56, for a total value of $277,140.80. Following the transaction, the director owned 2,643 shares of the company’s stock, valued at $1,077,181.08. This represents a 20.46% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 38,430 shares of company stock valued at $14,883,788. 1.10% of the stock is currently owned by insiders.

Tyler Technologies Profile

Tyler Technologies provides software and technology services primarily to public-sector organizations. Its customers include state and local governments, courts, public safety agencies, schools, and other public entities. The company’s offerings include software for financial management, tax and property appraisal, courts and justice, public safety, education, utility billing, and permitting. Tyler also provides digital services such as online payments and tools for public access to government information.