Sei Investments Co. Cuts Stock Position in Tyler Technologies, Inc. (NYSE:TYL)

Sei Investments Co. cut its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 25.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,772 shares of the technology company’s stock after selling 11,064 shares during the quarter. Sei Investments Co.’s holdings in Tyler Technologies were worth $11,311,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Cigna Investments Inc. New grew its holdings in shares of Tyler Technologies by 18.3% in the second quarter. Cigna Investments Inc. New now owns 1,291 shares of the technology company’s stock valued at $449,000 after purchasing an additional 200 shares in the last quarter. Private Advisor Group LLC purchased a new position in shares of Tyler Technologies in the second quarter valued at $80,000. Wealthfront Advisers LLC purchased a new position in shares of Tyler Technologies in the second quarter valued at $200,000. Captrust Financial Advisors boosted its stake in Tyler Technologies by 5.8% during the second quarter. Captrust Financial Advisors now owns 3,441 shares of the technology company’s stock worth $1,205,000 after buying an additional 189 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in Tyler Technologies by 18.6% during the second quarter. Canada Pension Plan Investment Board now owns 2,100 shares of the technology company’s stock worth $728,000 after buying an additional 330 shares during the period. 91.08% of the stock is owned by hedge funds and other institutional investors.

NYSE:TYL opened at $336.17 on Wednesday. The stock has a fifty day simple moving average of $341.87 and a 200-day simple moving average of $332.62. The company has a market cap of $13.53 billion, a price-to-earnings ratio of 72.91, a price-to-earnings-growth ratio of 5.37 and a beta of 0.72. Tyler Technologies, Inc. has a twelve month low of $245.00 and a twelve month high of $382.92.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, July 29th. The technology company reported $1.38 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.18. Tyler Technologies had a net margin of 16.96% and a return on equity of 10.05%. The business had revenue of $271.09 million during the quarter, compared to the consensus estimate of $279.40 million. During the same period in the previous year, the company posted $1.30 earnings per share. The firm’s revenue was down 1.5% on a year-over-year basis. On average, analysts forecast that Tyler Technologies, Inc. will post 4.04 EPS for the current fiscal year.

In other Tyler Technologies news, Director Dustin R. Womble sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $338.18, for a total value of $3,381,800.00. Following the sale, the director now owns 146,105 shares in the company, valued at approximately $49,409,788.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman John S. Marr, Jr. sold 16,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $347.28, for a total value of $5,556,480.00. Following the completion of the sale, the chairman now owns 152,838 shares in the company, valued at approximately $53,077,580.64. The disclosure for this sale can be found here. 3.60% of the stock is owned by corporate insiders.

Several research analysts have commented on the stock. Oppenheimer lowered shares of Tyler Technologies from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 28th. Royal Bank of Canada assumed coverage on shares of Tyler Technologies in a research note on Thursday, June 18th. They set an “outperform” rating and a $375.00 price objective for the company. Northland Securities lifted their price objective on shares of Tyler Technologies from $350.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Piper Sandler reaffirmed an “overweight” rating and set a $423.00 price objective on shares of Tyler Technologies in a research note on Monday, July 20th. Finally, Zacks Investment Research lowered shares of Tyler Technologies from a “hold” rating to a “sell” rating and set a $342.00 price objective for the company. in a research note on Monday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $336.58.

About Tyler Technologies

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. The company operates in two segments, Enterprise Software, and Appraisal and Tax. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools.

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Institutional Ownership by Quarter for Tyler Technologies (NYSE:TYL)

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