Bristlecone Advisors LLC Lowers Stake in Tyler Technologies, Inc. (NYSE:TYL)

Bristlecone Advisors LLC reduced its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 6.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,242 shares of the technology company’s stock after selling 162 shares during the period. Bristlecone Advisors LLC’s holdings in Tyler Technologies were worth $1,309,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TYL. Commonwealth Equity Services LLC boosted its holdings in shares of Tyler Technologies by 119.2% in the 1st quarter. Commonwealth Equity Services LLC now owns 6,517 shares of the technology company’s stock worth $2,770,000 after purchasing an additional 3,544 shares in the last quarter. Bessemer Group Inc. grew its position in Tyler Technologies by 39.4% during the first 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 last quarter. State Board of Administration of Florida Retirement System grew its position in Tyler Technologies by 7.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 46,724 shares of the technology company’s stock valued at $19,858,000 after acquiring an additional 3,198 shares during the last quarter. Natixis raised its stake in shares of Tyler Technologies by 114.0% during the first quarter. Natixis now owns 2,253 shares of the technology company’s stock worth $958,000 after acquiring an additional 1,200 shares in the last quarter. Finally, BNP Paribas purchased a new stake in shares of Tyler Technologies in the 1st quarter valued at $1,048,000. Institutional investors own 93.30% of the company’s stock.

Insider Activity

In related news, CEO H Lynn Moore, Jr. sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $590.98, for a total value of $2,954,900.00. Following the sale, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at $44,323,500. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Glenn A. Carter sold 3,350 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $582.57, for a total value of $1,951,609.50. Following the sale, the director now directly owns 2,654 shares of the company’s stock, valued at $1,546,140.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $590.98, for a total value of $2,954,900.00. Following the transaction, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at approximately $44,323,500. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,375 shares of company stock worth $17,049,739 in the last quarter. 2.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

TYL has been the topic of a number of analyst reports. BTIG Research lifted their target price on shares of Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Wells Fargo & Company lifted their price objective on Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. StockNews.com upgraded Tyler Technologies from a “hold” rating to a “buy” rating in a report on Friday. Robert W. Baird lifted their price target on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Needham & Company LLC increased their price objective on Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Tyler Technologies has an average rating of “Moderate Buy” and a consensus price target of $642.62.

Tyler Technologies Stock Performance

NYSE:TYL opened at $605.86 on Friday. The firm’s fifty day simple moving average is $584.88 and its 200 day simple moving average is $527.40. Tyler Technologies, Inc. has a twelve month low of $361.16 and a twelve month high of $631.43. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.19. The stock has a market cap of $25.72 billion, a P/E ratio of 137.07, a price-to-earnings-growth ratio of 5.42 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.09. The company had revenue of $543.34 million for the quarter, compared to analysts’ expectations of $547.34 million. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. Tyler Technologies’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.66 earnings per share. As a group, research analysts predict that Tyler Technologies, Inc. will post 7.21 EPS for the current year.

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.