Eagle Asset Management Inc. Has $148.78 Million Position in Tyler Technologies, Inc. (NYSE:TYL)

Eagle Asset Management Inc. cut its position in Tyler Technologies, Inc. (NYSE:TYL) by 19.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 238,721 shares of the technology company’s stock after selling 58,002 shares during the quarter. Tyler Technologies comprises about 0.8% of Eagle Asset Management Inc.’s portfolio, making the stock its 25th biggest holding. Eagle Asset Management Inc. owned approximately 0.56% of Tyler Technologies worth $148,776,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Independence Bank of Kentucky acquired a new stake in shares of Tyler Technologies in the second quarter valued at approximately $25,000. Ashton Thomas Securities LLC bought a new stake in shares of Tyler Technologies during the 3rd quarter valued at $27,000. Covestor Ltd grew its holdings in shares of Tyler Technologies by 153.6% during the 1st quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after purchasing an additional 43 shares in the last quarter. Blue Trust Inc. increased its position in shares of Tyler Technologies by 329.4% in the second quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after purchasing an additional 56 shares during the period. Finally, Lynx Investment Advisory bought a new stake in Tyler Technologies during the second quarter worth about $38,000. Institutional investors own 93.30% of the company’s stock.

Tyler Technologies Stock Performance

NYSE TYL opened at $597.21 on Friday. The company has a fifty day moving average price of $594.40 and a 200-day moving average price of $549.91. The firm has a market cap of $25.56 billion, a price-to-earnings ratio of 108.98, a PEG ratio of 5.41 and a beta of 0.77. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. Tyler Technologies, Inc. has a 1 year low of $397.80 and a 1 year high of $631.43.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.09. The firm had revenue of $543.34 million for the quarter, compared to the consensus estimate of $547.34 million. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.66 EPS. As a group, equities research analysts predict that Tyler Technologies, Inc. will post 7.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TYL has been the subject of several analyst reports. BTIG Research boosted their target price 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 upped their target price on Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Piper Sandler boosted their price target on Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Oppenheimer lifted their target price on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, DA Davidson boosted their target price on Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $642.62.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was 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 in the company, valued at $43,246,500. This trade represents a 6.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Glenn A. Carter sold 3,350 shares of Tyler Technologies stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $582.57, for a total value of $1,951,609.50. Following the transaction, the director now directly owns 2,654 shares of the company’s stock, valued at $1,546,140.78. The trade was a 55.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,600 shares of company stock worth $16,412,595. Insiders own 2.20% of the company’s stock.

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.