Allspring Global Investments Holdings LLC Cuts Stake in Tyler Technologies, Inc. (NYSE:TYL)

Allspring Global Investments Holdings LLC cut its stake in Tyler Technologies, Inc. (NYSE:TYL) by 5.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 153,120 shares of the technology company’s stock after selling 8,402 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Tyler Technologies were worth $76,986,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its position in shares of Tyler Technologies by 41,712.0% in the fourth quarter. International Assets Investment Management LLC now owns 52,265 shares of the technology company’s stock valued at $21,853,000 after acquiring an additional 52,140 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of Tyler Technologies by 119.2% in 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 last quarter. Bessemer Group Inc. grew its stake in Tyler Technologies by 39.4% during 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 in the last quarter. Rafferty Asset Management LLC raised its holdings in 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 last quarter. Finally, APG Asset Management US Inc. purchased a new position in Tyler Technologies in the 4th quarter worth approximately $57,493,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on TYL. Barclays increased their price target on Tyler Technologies from $515.00 to $577.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. BTIG Research lifted their price target on Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a report on Friday, July 26th. DA Davidson upped their price objective on shares of Tyler Technologies from $456.00 to $525.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Piper Sandler lifted their target price on shares of Tyler Technologies from $529.00 to $625.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $600.00 price objective on shares of Tyler Technologies in a report on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $582.31.

Tyler Technologies Trading Up 0.3 %

Tyler Technologies stock traded up $1.50 during midday trading on Tuesday, reaching $573.18. 3,143 shares of the stock traded hands, compared to its average volume of 222,250. The company has a 50-day simple moving average of $538.61 and a two-hundred day simple moving average of $478.83. Tyler Technologies, Inc. has a 12-month low of $361.16 and a 12-month high of $593.50. The firm has a market cap of $24.33 billion, a PE ratio of 129.34, a price-to-earnings-growth ratio of 5.40 and a beta of 0.76. The company has a current ratio of 1.06, a quick 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 earnings per share (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 return on equity of 9.66% and a net margin of 10.24%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.53 EPS. Research analysts expect that Tyler Technologies, Inc. will post 7.21 earnings per share for the current fiscal year.

Insider Transactions at Tyler Technologies

In other news, insider John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $481.99, for a total transaction of $2,891,940.00. Following the sale, the insider now owns 6,983 shares of the company’s stock, valued at approximately $3,365,736.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Tyler Technologies news, Director Daniel M. Pope sold 275 shares of Tyler Technologies stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $578.26, for a total transaction of $159,021.50. Following the transaction, the director now owns 3,218 shares of the company’s stock, valued at $1,860,840.68. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $481.99, for a total value of $2,891,940.00. Following the transaction, the insider now directly owns 6,983 shares in the company, valued at approximately $3,365,736.17. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,325 shares of company stock valued at $11,068,068. Corporate insiders own 2.20% of the company’s stock.

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.