Artisan Partners Limited Partnership Reduces Position in Tyler Technologies, Inc. (NYSE:TYL)

Artisan Partners Limited Partnership lowered its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 8.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 926,754 shares of the technology company’s stock after selling 85,812 shares during the period. Artisan Partners Limited Partnership owned about 2.17% of Tyler Technologies worth $534,403,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Larson Financial Group LLC boosted its stake in shares of Tyler Technologies by 221.4% during the 4th quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock valued at $26,000 after buying an additional 31 shares during the last quarter. Sierra Ocean LLC bought a new position in Tyler Technologies during the 4th quarter valued at $32,000. OFI Invest Asset Management acquired a new position in Tyler Technologies during the 4th quarter worth $41,000. Smithfield Trust Co increased its position in shares of Tyler Technologies by 55.6% in the 4th quarter. Smithfield Trust Co now owns 84 shares of the technology company’s stock worth $48,000 after purchasing an additional 30 shares during the last quarter. Finally, Private Trust Co. NA raised its stake in shares of Tyler Technologies by 51.8% in the 4th quarter. Private Trust Co. NA now owns 85 shares of the technology company’s stock valued at $49,000 after purchasing an additional 29 shares in the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

Tyler Technologies Trading Down 0.5 %

NYSE:TYL opened at $577.53 on Thursday. The stock has a market cap of $24.89 billion, a price-to-earnings ratio of 95.30, a PEG ratio of 4.93 and a beta of 0.80. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. Tyler Technologies, Inc. has a 1 year low of $397.80 and a 1 year high of $661.31. The business has a fifty day moving average of $599.49 and a 200-day moving average of $597.82.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 earnings per share (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%. Equities analysts predict that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,000 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $619.00, for a total value of $3,714,000.00. Following the transaction, the insider now owns 6,983 shares of the company’s stock, valued at approximately $4,322,477. This represents a 46.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian K. Miller sold 1,550 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $613.58, for a total value of $951,049.00. Following the sale, the chief financial officer now owns 14,026 shares of the company’s stock, valued at $8,606,073.08. This trade represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 14,064 shares of company stock valued at $8,688,030. 2.20% of the stock is owned by insiders.

Analysts Set New Price Targets

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

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.