Eagle Asset Management Inc. Sells 58,002 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Eagle Asset Management Inc. trimmed its stake in Tyler Technologies, Inc. (NYSE:TYL) by 19.5% during the 3rd quarter, Holdings Channel reports. The firm owned 238,721 shares of the technology company’s stock after selling 58,002 shares during the quarter. Tyler Technologies comprises approximately 0.8% of Eagle Asset Management Inc.’s portfolio, making the stock its 25th biggest holding. Eagle Asset Management Inc.’s holdings in Tyler Technologies were worth $148,776,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Ashton Thomas Securities LLC purchased a new position in Tyler Technologies in the 3rd quarter worth approximately $27,000. Independence Bank of Kentucky purchased a new position in shares of Tyler Technologies in the 2nd quarter worth about $25,000. Covestor Ltd increased its position in shares of Tyler Technologies by 153.6% during the 1st quarter. Covestor Ltd now owns 71 shares of the technology company’s stock valued at $30,000 after purchasing an additional 43 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Tyler Technologies by 329.4% during the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock valued at $37,000 after buying an additional 56 shares in the last quarter. Finally, Lynx Investment Advisory bought a new stake in Tyler Technologies in the 2nd quarter worth approximately $38,000. 93.30% of the stock is owned by hedge funds and other institutional investors.

Tyler Technologies Trading Down 0.7 %

NYSE TYL opened at $597.21 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $631.43. The stock has a market cap of $25.56 billion, a P/E ratio of 108.98, a price-to-earnings-growth ratio of 5.41 and a beta of 0.77. The stock has a 50 day simple moving average of $594.40 and a two-hundred day simple moving average of $549.91.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.43 by $0.09. The business had revenue of $543.34 million during the quarter, compared to analyst estimates of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.66 EPS. On average, analysts forecast that Tyler Technologies, Inc. will post 7.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

TYL has been the topic of a number of recent research reports. BTIG Research increased their price target on shares of Tyler Technologies from $550.00 to $630.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Wells Fargo & Company lifted their target price on shares of Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Needham & Company LLC boosted their price target on shares of Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Oppenheimer raised their price objective on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, Evercore ISI raised Tyler Technologies to a “hold” rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $642.62.

Insiders Place Their Bets

In other news, CFO Brian K. Miller sold 2,500 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $586.97, for a total value of $1,467,425.00. Following the completion of the transaction, the chief financial officer now owns 11,950 shares of the company’s stock, valued at approximately $7,014,291.50. This represents a 17.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 Thursday, September 12th. The shares were sold at an average price of $576.62, for a total value of $2,883,100.00. Following the completion of the transaction, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $43,246,500. The trade was a 6.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,600 shares of company stock worth $16,412,595 over the last three months. Company 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.