Victory Capital Management Inc. Sells 3,633 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Victory Capital Management Inc. cut its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 10.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,868 shares of the technology company’s stock after selling 3,633 shares during the period. Victory Capital Management Inc. owned about 0.08% of Tyler Technologies worth $16,023,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in TYL. Commonwealth Equity Services LLC increased its holdings in Tyler Technologies by 119.2% during the first quarter. Commonwealth Equity Services LLC now owns 6,517 shares of the technology company’s stock valued at $2,770,000 after buying an additional 3,544 shares during the period. Bessemer Group Inc. increased its holdings in shares of Tyler Technologies by 39.4% in the 1st quarter. Bessemer Group Inc. now owns 6,840 shares of the technology company’s stock valued at $2,906,000 after acquiring an additional 1,935 shares during the period. Rafferty Asset Management LLC increased its holdings in shares of Tyler Technologies by 26.8% in the 4th quarter. Rafferty Asset Management LLC now owns 13,972 shares of the technology company’s stock valued at $5,842,000 after acquiring an additional 2,951 shares during the period. APG Asset Management US Inc. bought a new position in shares of Tyler Technologies in the 4th quarter worth $57,493,000. Finally, State Board of Administration of Florida Retirement System lifted its stake in shares of Tyler Technologies by 7.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 46,724 shares of the technology company’s stock worth $19,858,000 after purchasing an additional 3,198 shares during the last quarter. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on TYL. Truist Financial reiterated a “buy” rating and issued a $600.00 target price (up from $560.00) on shares of Tyler Technologies in a report on Friday, July 26th. Evercore ISI raised shares of Tyler Technologies to a “hold” rating in a research report on Friday, July 26th. Loop Capital lifted their price target on shares of Tyler Technologies from $485.00 to $530.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Piper Sandler upped their price target on Tyler Technologies from $529.00 to $625.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, Wells Fargo & Company raised their price objective on Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $582.31.

Tyler Technologies Trading Down 0.2 %

Tyler Technologies stock opened at $581.96 on Friday. The stock has a 50-day moving average price of $562.64 and a 200 day moving average price of $491.58. The company has a market capitalization of $24.83 billion, a price-to-earnings ratio of 131.67, a price-to-earnings-growth ratio of 5.42 and a beta of 0.78. Tyler Technologies, Inc. has a 52 week low of $361.16 and a 52 week high of $598.93. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.19.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.40 EPS for the quarter, beating the consensus estimate of $2.34 by $0.06. The business had revenue of $540.98 million during the quarter, compared to analysts’ expectations of $541.01 million. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.53 EPS. Sell-side analysts anticipate that Tyler Technologies, Inc. will post 7.21 EPS for the current year.

Insider Buying and Selling at Tyler Technologies

In other news, insider John S. Marr, Jr. sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $578.94, for a total value of $2,894,700.00. Following the completion of the transaction, the insider now owns 6,983 shares of the company’s stock, valued at approximately $4,042,738.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider John S. Marr, Jr. sold 5,000 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $578.94, for a total transaction of $2,894,700.00. Following the completion of the transaction, the insider now directly owns 6,983 shares of the company’s stock, valued at approximately $4,042,738.02. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Brian K. Miller sold 2,000 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $567.96, for a total transaction of $1,135,920.00. Following the sale, the chief financial officer now directly owns 11,950 shares in the company, valued at $6,787,122. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,375 shares of company stock valued at $14,166,639. 2.20% of the stock is owned by insiders.

Tyler Technologies Company Profile

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.