Geneva Capital Management LLC Cuts Stock Holdings in Tyler Technologies, Inc. $TYL

Geneva Capital Management LLC lowered its stake in Tyler Technologies, Inc. (NYSE:TYL) by 1.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 235,647 shares of the technology company’s stock after selling 2,601 shares during the quarter. Tyler Technologies comprises approximately 2.1% of Geneva Capital Management LLC’s holdings, making the stock its 13th largest holding. Geneva Capital Management LLC owned 0.55% of Tyler Technologies worth $123,281,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. General American Investors Co. Inc. raised its stake in Tyler Technologies by 7.2% during the third quarter. General American Investors Co. Inc. now owns 44,381 shares of the technology company’s stock valued at $23,218,000 after purchasing an additional 3,000 shares in the last quarter. Lazard Freres Gestion S.A.S. increased its holdings in shares of Tyler Technologies by 150.0% in the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 5,000 shares of the technology company’s stock worth $2,615,000 after buying an additional 3,000 shares during the last quarter. ICICI Prudential Asset Management Co Ltd bought a new stake in shares of Tyler Technologies in the 3rd quarter worth about $2,111,000. Principal Financial Group Inc. raised its position in shares of Tyler Technologies by 11.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,410,640 shares of the technology company’s stock valued at $738,010,000 after buying an additional 144,612 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Tyler Technologies by 4.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 172,932 shares of the technology company’s stock valued at $90,471,000 after acquiring an additional 8,126 shares during the last quarter. Institutional investors own 93.30% of the company’s stock.

Tyler Technologies Stock Performance

Shares of TYL stock opened at $354.79 on Wednesday. The stock has a 50 day moving average price of $384.01 and a 200 day moving average price of $456.84. Tyler Technologies, Inc. has a 52-week low of $283.71 and a 52-week high of $621.34. The firm has a market capitalization of $15.25 billion, a P/E ratio of 49.28, a P/E/G ratio of 2.47 and a beta of 0.90.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, February 11th. The technology company reported $2.64 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.07). Tyler Technologies had a net margin of 13.53% and a return on equity of 10.42%. The business had revenue of $575.18 million during the quarter, compared to the consensus estimate of $591.09 million. During the same period last year, the company earned $2.43 EPS. The business’s revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Barclays reduced their price objective on Tyler Technologies from $715.00 to $410.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. BTIG Research lowered their price objective on Tyler Technologies from $560.00 to $470.00 and set a “buy” rating for the company in a research note on Monday, February 9th. The Goldman Sachs Group set a $420.00 target price on Tyler Technologies in a research report on Friday, February 13th. Robert W. Baird set a $440.00 price target on Tyler Technologies in a report on Friday, February 13th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $543.00 price objective (down from $671.00) on shares of Tyler Technologies in a research note on Friday, February 13th. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Tyler Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $467.54.

Insider Buying and Selling

In related news, COO Jeffrey David Puckett sold 5,174 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $369.93, for a total value of $1,914,017.82. Following the transaction, the chief operating officer owned 7,754 shares of the company’s stock, valued at $2,868,437.22. This trade represents a 40.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Brian K. Miller sold 1,000 shares of Tyler Technologies stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $458.65, for a total transaction of $458,650.00. Following the sale, the chief financial officer owned 16,148 shares of the company’s stock, valued at $7,406,280.20. The trade was a 5.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 8,174 shares of company stock worth $3,228,243 over the last ninety days. 1.10% of the stock is owned by insiders.

About Tyler Technologies

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler’s product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.