Franklin Resources Inc. Sells 133,978 Shares of Tyler Technologies, Inc. $TYL

Franklin Resources Inc. trimmed its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 13.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 840,505 shares of the technology company’s stock after selling 133,978 shares during the period. Franklin Resources Inc. owned 1.95% of Tyler Technologies worth $439,719,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Root Financial Partners LLC acquired a new position in Tyler Technologies in the third quarter worth $28,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Tyler Technologies during the second quarter worth $32,000. Advisors Asset Management Inc. acquired a new stake in shares of Tyler Technologies in the first quarter valued at $38,000. Geneos Wealth Management Inc. increased its stake in shares of Tyler Technologies by 137.9% in the first quarter. Geneos Wealth Management Inc. now owns 69 shares of the technology company’s stock valued at $40,000 after buying an additional 40 shares in the last quarter. Finally, Quent Capital LLC bought a new position in shares of Tyler Technologies in the third quarter valued at about $49,000. Institutional investors own 93.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on TYL shares. Piper Sandler reiterated an “overweight” rating and set a $543.00 price target (down from $671.00) on shares of Tyler Technologies in a research report on Friday, February 13th. BTIG Research lowered their price objective on shares of Tyler Technologies from $560.00 to $470.00 and set a “buy” rating for the company in a research report on Monday, February 9th. Barclays dropped their target price on shares of Tyler Technologies from $715.00 to $410.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. Stifel Nicolaus reduced their target price on shares of Tyler Technologies from $550.00 to $400.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Finally, TD Cowen decreased their price target on shares of Tyler Technologies from $600.00 to $500.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $467.54.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, Director Andrew D. Teed acquired 1,600 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The shares were acquired at an average cost of $309.91 per share, for a total transaction of $495,856.00. Following the completion of the acquisition, the director directly owned 5,118 shares of the company’s stock, valued at approximately $1,586,119.38. This represents a 45.48% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey David Puckett sold 5,174 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $369.93, for a total transaction of $1,914,017.82. Following the completion of the transaction, the chief operating officer directly owned 7,754 shares in the company, valued at approximately $2,868,437.22. The trade was a 40.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 8,174 shares of company stock worth $3,228,243 over the last 90 days. Insiders own 1.10% of the company’s stock.

Tyler Technologies Stock Down 1.7%

Shares of TYL opened at $348.26 on Thursday. The stock’s fifty day simple moving average is $381.91 and its 200-day simple moving average is $456.08. The firm has a market capitalization of $14.97 billion, a PE ratio of 48.37, a price-to-earnings-growth ratio of 2.38 and a beta of 0.90. Tyler Technologies, Inc. has a 12-month low of $283.71 and a 12-month high of $621.34.

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 analysts’ consensus estimates of $2.71 by ($0.07). The firm had revenue of $575.18 million during the quarter, compared to analyst estimates of $591.09 million. Tyler Technologies had a return on equity of 10.42% and a net margin of 13.53%.Tyler Technologies’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.43 earnings per share. Analysts anticipate that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Tyler Technologies Company Profile

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.