Aigen Investment Management LP Trims Stake in Tyler Technologies, Inc. (NYSE:TYL)

Aigen Investment Management LP reduced its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 6.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,105 shares of the technology company’s stock after selling 137 shares during the period. Aigen Investment Management LP’s holdings in Tyler Technologies were worth $1,214,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund grew its position in Tyler Technologies by 0.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,668 shares of the technology company’s stock worth $2,115,000 after acquiring an additional 20 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in Tyler Technologies by 18.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the technology company’s stock worth $78,000 after acquiring an additional 21 shares in the last quarter. Baron Wealth Management LLC grew its position in Tyler Technologies by 1.5% in the fourth quarter. Baron Wealth Management LLC now owns 1,487 shares of the technology company’s stock worth $857,000 after acquiring an additional 22 shares in the last quarter. Choreo LLC grew its position in Tyler Technologies by 3.9% in the fourth quarter. Choreo LLC now owns 647 shares of the technology company’s stock worth $374,000 after acquiring an additional 24 shares in the last quarter. Finally, Argonautica Private Wealth Management Inc. grew its position in Tyler Technologies by 2.2% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 1,123 shares of the technology company’s stock worth $648,000 after acquiring an additional 24 shares in the last quarter. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO H Lynn Moore, Jr. sold 6,514 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total value of $4,022,981.26. Following the completion of the transaction, the chief executive officer now directly owns 75,734 shares of the company’s stock, valued at $46,772,561.06. This represents a 7.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Brian K. Miller sold 6,752 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $613.75, for a total transaction of $4,144,040.00. Following the completion of the transaction, the chief financial officer now directly owns 11,918 shares of the company’s stock, valued at approximately $7,314,672.50. The trade was a 36.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on TYL shares. Piper Sandler upped their target price on shares of Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. StockNews.com lowered shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Monday, February 24th. Wells Fargo & Company restated an “equal weight” rating and set a $615.00 price target (down from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. DA Davidson restated a “neutral” rating and set a $575.00 price target on shares of Tyler Technologies in a research report on Thursday, January 30th. Finally, Barclays upped their price target on shares of Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Tyler Technologies has an average rating of “Moderate Buy” and an average price target of $676.25.

Tyler Technologies Stock Performance

Shares of NYSE:TYL opened at $626.10 on Thursday. The company has a market cap of $26.93 billion, a price-to-earnings ratio of 103.32, a price-to-earnings-growth ratio of 4.93 and a beta of 0.78. The company has a 50-day moving average price of $599.07 and a 200-day moving average price of $598.26. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies, Inc. has a 12 month low of $397.80 and a 12 month high of $661.31.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. As a group, equities analysts anticipate that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

About Tyler Technologies

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. It operates in two segments, Enterprise Software and Platform Technologies. The company offers platform and transformative technology solutions, including cybersecurity for government agencies; data and insights solutions; digital solutions that helps workers and policymakers to share, communicate, and leverage data; payments solutions, such as billing, presentment, merchant onboarding, collections, reconciliation, and disbursements; platform technologies, an application development platform that enables government workers to build solutions and applications; and outdoor recreation solutions, including campsite reservations, activity registrations, licensing sales and renewals, and real-time data for conservation and park management.