Bessemer Group Inc. Decreases Stake in Tyler Technologies, Inc. $TYL

Bessemer Group Inc. lessened its stake in Tyler Technologies, Inc. (NYSE:TYL) by 32.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,404 shares of the technology company’s stock after selling 1,668 shares during the quarter. Bessemer Group Inc.’s holdings in Tyler Technologies were worth $2,018,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in TYL. Mowery & Schoenfeld Wealth Management LLC increased its holdings in Tyler Technologies by 820.0% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company’s stock valued at $27,000 after buying an additional 41 shares in the last quarter. Generali Asset Management SPA SGR acquired a new stake in shares of Tyler Technologies in the 2nd quarter worth approximately $30,000. Cornerstone Planning Group LLC increased its stake in Tyler Technologies by 221.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 61 shares of the technology company’s stock valued at $35,000 after purchasing an additional 42 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in Tyler Technologies during the first quarter worth $38,000. Finally, Advisors Asset Management Inc. purchased a new stake in Tyler Technologies during the first quarter worth $38,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, Director Glenn A. Carter sold 750 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $538.30, for a total transaction of $403,725.00. Following the transaction, the director owned 3,172 shares of the company’s stock, valued at $1,707,487.60. This represents a 19.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider John S. Marr, Jr. sold 4,250 shares of the firm’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $555.53, for a total value of $2,361,002.50. Following the sale, the insider owned 6,983 shares in the company, valued at $3,879,265.99. This trade represents a 37.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 14,250 shares of company stock worth $8,099,000. Insiders own 1.10% of the company’s stock.

Tyler Technologies Price Performance

Tyler Technologies stock opened at $477.90 on Friday. The stock has a market capitalization of $20.67 billion, a P/E ratio of 66.47, a P/E/G ratio of 3.67 and a beta of 0.89. Tyler Technologies, Inc. has a 12-month low of $450.00 and a 12-month high of $661.31. The firm’s 50-day moving average is $526.78 and its two-hundred day moving average is $555.37.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.13. Tyler Technologies had a net margin of 13.72% and a return on equity of 10.64%. The business had revenue of $584.01 million for the quarter, compared to the consensus estimate of $587.59 million. During the same quarter in the prior year, the firm posted $2.40 earnings per share. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TYL. DA Davidson dropped their price target on Tyler Technologies from $585.00 to $560.00 and set a “neutral” rating for the company in a research report on Friday, October 10th. Oppenheimer restated an “outperform” rating and set a $600.00 target price on shares of Tyler Technologies in a report on Thursday. Weiss Ratings restated a “hold (c)” rating on shares of Tyler Technologies in a research report on Tuesday, October 14th. UBS Group reiterated an “overweight” rating on shares of Tyler Technologies in a research report on Wednesday, October 8th. Finally, Barclays raised their price objective on shares of Tyler Technologies from $695.00 to $715.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $674.60.

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.