Geneva Capital Management LLC Cuts Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Geneva Capital Management LLC decreased its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 3.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 217,903 shares of the technology company’s stock after selling 8,555 shares during the period. Tyler Technologies accounts for approximately 2.2% of Geneva Capital Management LLC’s portfolio, making the stock its 13th biggest position. Geneva Capital Management LLC’s holdings in Tyler Technologies were worth $125,652,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in shares of Tyler Technologies during the 3rd quarter worth about $27,000. Sierra Ocean LLC acquired a new position in shares of Tyler Technologies during the 4th quarter worth about $32,000. Smithfield Trust Co boosted its position in shares of Tyler Technologies by 55.6% during the 4th quarter. Smithfield Trust Co now owns 84 shares of the technology company’s stock worth $48,000 after acquiring an additional 30 shares in the last quarter. Private Trust Co. NA boosted its position in shares of Tyler Technologies by 51.8% during the 4th quarter. Private Trust Co. NA now owns 85 shares of the technology company’s stock worth $49,000 after acquiring an additional 29 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Tyler Technologies during the 4th quarter worth about $61,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Insider Activity at Tyler Technologies

In related news, CFO Brian K. Miller sold 6,752 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $613.75, for a total value 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 $7,314,672.50. This trade represents a 36.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the firm’s stock in a transaction that occurred on 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. The trade was a 7.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on TYL. StockNews.com cut Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Monday, February 24th. Truist Financial reissued a “buy” rating and issued a $775.00 target price (up from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Piper Sandler upped their target price on Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Barclays upped their target price on Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $700.00 target price on shares of Tyler Technologies in a research report on Tuesday, January 21st. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Tyler Technologies presently has an average rating of “Moderate Buy” and an average target price of $676.25.

Tyler Technologies Stock Performance

Shares of TYL stock 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 stock has a 50 day simple moving average of $599.07 and a 200-day simple moving average of $598.26. Tyler Technologies, Inc. has a 12-month low of $397.80 and a 12-month high of $661.31. 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 (NYSE:TYL) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 earnings per share 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%. On average, equities analysts forecast that Tyler Technologies, Inc. will post 8.52 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.