Montanaro Asset Management Ltd Lowers Stake in Tyler Technologies, Inc. $TYL

Montanaro Asset Management Ltd lowered its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 8.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,075 shares of the technology company’s stock after selling 3,386 shares during the quarter. Tyler Technologies accounts for about 5.8% of Montanaro Asset Management Ltd’s investment portfolio, making the stock its 2nd biggest position. Montanaro Asset Management Ltd owned about 0.09% of Tyler Technologies worth $22,572,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TYL. Leelyn Smith LLC grew its stake in Tyler Technologies by 0.9% during the first quarter. Leelyn Smith LLC now owns 2,122 shares of the technology company’s stock worth $1,234,000 after buying an additional 19 shares during the last quarter. Mather Group LLC. grew its stake in Tyler Technologies by 5.3% during the second quarter. Mather Group LLC. now owns 379 shares of the technology company’s stock worth $225,000 after buying an additional 19 shares during the last quarter. Nordea Investment Management AB grew its stake in Tyler Technologies by 0.6% during the second quarter. Nordea Investment Management AB now owns 3,537 shares of the technology company’s stock worth $2,068,000 after buying an additional 20 shares during the last quarter. Allworth Financial LP grew its stake in Tyler Technologies by 9.1% during the first quarter. Allworth Financial LP now owns 288 shares of the technology company’s stock worth $153,000 after buying an additional 24 shares during the last quarter. Finally, Meridian Wealth Management LLC grew its stake in Tyler Technologies by 2.9% during the first quarter. Meridian Wealth Management LLC now owns 923 shares of the technology company’s stock worth $537,000 after buying an additional 26 shares during the last quarter. Institutional investors own 93.30% of the company’s stock.

Insider Activity at Tyler Technologies

In related news, CEO H Lynn Moore, Jr. sold 5,250 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $588.89, for a total value of $3,091,672.50. Following the transaction, the chief executive officer directly owned 81,775 shares in the company, valued at $48,156,479.75. This represents a 6.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Glenn A. Carter sold 750 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $538.30, for a total transaction of $403,725.00. Following the completion of the transaction, the director owned 3,172 shares in the company, valued at $1,707,487.60. This represents a 19.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 14,250 shares of company stock worth $8,099,000 over the last ninety days. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on TYL shares. UBS Group reaffirmed an “overweight” rating on shares of Tyler Technologies in a research note on Wednesday, October 8th. Oppenheimer reaffirmed an “outperform” rating and set a $600.00 price objective on shares of Tyler Technologies in a research note on Thursday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tyler Technologies in a research note on Tuesday, October 14th. DA Davidson decreased their price objective on shares of Tyler Technologies from $560.00 to $540.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Barclays upped their target price on shares of Tyler Technologies from $695.00 to $715.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Nine investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $660.09.

Tyler Technologies Trading Down 0.2%

Shares of TYL stock opened at $476.98 on Monday. The firm’s 50 day moving average is $525.11 and its 200-day moving average is $554.44. Tyler Technologies, Inc. has a 1 year low of $450.00 and a 1 year high of $661.31. The firm has a market capitalization of $20.52 billion, a price-to-earnings ratio of 66.34, a PEG ratio of 3.67 and a beta of 0.89.

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.