Chicago Capital LLC Decreases Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Chicago Capital LLC cut its stake in Tyler Technologies, Inc. (NYSE:TYL) by 2.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,481 shares of the technology company’s stock after selling 841 shares during the quarter. Chicago Capital LLC owned about 0.08% of Tyler Technologies worth $20,628,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Retirement Wealth Solutions LLC purchased a new stake in shares of Tyler Technologies during the 1st quarter valued at about $26,000. Larson Financial Group LLC grew its position in Tyler Technologies by 221.4% in the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock valued at $26,000 after acquiring an additional 31 shares in the last quarter. Sierra Ocean LLC purchased a new stake in shares of Tyler Technologies during the fourth quarter valued at approximately $32,000. Brown Brothers Harriman & Co. raised its stake in shares of Tyler Technologies by 300.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock valued at $32,000 after purchasing an additional 42 shares during the period. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Tyler Technologies during the fourth quarter worth $40,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Insider Activity

In other Tyler Technologies news, Director Daniel M. Pope sold 365 shares of the business’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $550.00, for a total transaction of $200,750.00. Following the completion of the transaction, the director now directly owns 2,853 shares of the company’s stock, valued at $1,569,150. The trade was a 11.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brian K. Miller sold 1,044 shares of the firm’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $587.20, for a total transaction of $613,036.80. Following the completion of the sale, the chief financial officer now owns 14,972 shares in the company, valued at $8,791,558.40. The trade was a 6.52% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,300 shares of company stock valued at $14,480,366. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $750.00 price target on shares of Tyler Technologies in a research note on Tuesday, May 13th. Piper Sandler lowered their target price on Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. Cantor Fitzgerald began coverage on Tyler Technologies in a research note on Tuesday, June 3rd. They issued a “neutral” rating and a $600.00 price target on the stock. Wall Street Zen downgraded Tyler Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. Finally, The Goldman Sachs Group lifted their price objective on Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tyler Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $680.50.

Tyler Technologies Stock Performance

TYL stock opened at $589.27 on Tuesday. The stock’s 50 day simple moving average is $565.56 and its 200 day simple moving average is $583.99. Tyler Technologies, Inc. has a 12-month low of $458.50 and a 12-month high of $661.31. The firm has a market cap of $25.41 billion, a P/E ratio of 97.24, a P/E/G ratio of 4.93 and a beta of 0.84. 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 issued its earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.22. Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. The company had revenue of $562.43 million for the quarter, compared to analysts’ expectations of $556.45 million. During the same period in the prior year, the company earned $2.20 earnings per share. The firm’s revenue was up 10.3% compared to the same quarter last year. As a group, equities research analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Tyler Technologies 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.