California Public Employees Retirement System Sells 26,128 Shares of Tyler Technologies, Inc. $TYL

California Public Employees Retirement System lowered its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 16.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 131,915 shares of the technology company’s stock after selling 26,128 shares during the quarter. California Public Employees Retirement System’s holdings in Tyler Technologies were worth $69,013,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Meridian Wealth Management LLC increased its stake in Tyler Technologies by 2.1% in the second quarter. Meridian Wealth Management LLC now owns 942 shares of the technology company’s stock worth $558,000 after purchasing an additional 19 shares during the period. Cerity Partners LLC lifted its position in shares of Tyler Technologies by 0.6% during the second quarter. Cerity Partners LLC now owns 2,959 shares of the technology company’s stock worth $1,754,000 after purchasing an additional 19 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Tyler Technologies by 3.9% during the third quarter. Signaturefd LLC now owns 613 shares of the technology company’s stock valued at $321,000 after purchasing an additional 23 shares during the period. Citizens Financial Group Inc. RI grew its holdings in shares of Tyler Technologies by 5.8% in the third quarter. Citizens Financial Group Inc. RI now owns 435 shares of the technology company’s stock worth $228,000 after purchasing an additional 24 shares during the last quarter. Finally, CWM LLC grew its holdings in shares of Tyler Technologies by 4.0% in the third quarter. CWM LLC now owns 647 shares of the technology company’s stock worth $339,000 after purchasing an additional 25 shares during the last quarter. Institutional investors own 93.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TYL shares. Barclays decreased their price objective on shares of Tyler Technologies from $715.00 to $410.00 and set an “overweight” rating for the company in a report on Friday, February 13th. The Goldman Sachs Group set a $420.00 target price on shares of Tyler Technologies in a research note on Friday, February 13th. TD Cowen reduced their target price on shares of Tyler Technologies from $600.00 to $500.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Robert W. Baird set a $440.00 price target on shares of Tyler Technologies in a research note on Friday, February 13th. Finally, DA Davidson reiterated a “buy” rating and issued a $460.00 price target on shares of Tyler Technologies in a report on Tuesday, February 17th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Tyler Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $467.54.

Tyler Technologies Price Performance

Shares of Tyler Technologies stock opened at $348.50 on Tuesday. Tyler Technologies, Inc. has a 1 year low of $283.71 and a 1 year high of $621.34. The firm’s 50-day moving average is $376.18 and its two-hundred day moving average is $451.01. The stock has a market cap of $14.98 billion, a price-to-earnings ratio of 48.40, a PEG ratio of 2.35 and a beta of 0.90.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, February 11th. The technology company reported $2.64 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $591.09 million. During the same period last year, the business posted $2.43 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Insider Activity at Tyler Technologies

In related news, insider Abigail Marshall Diaz-Pedrosa bought 610 shares of the stock in a transaction on Friday, February 20th. The stock was bought at an average price of $325.08 per share, for a total transaction of $198,298.80. Following the completion of the acquisition, the insider directly owned 1,123 shares in the company, valued at approximately $365,064.84. This represents a 118.91% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel M. Pope sold 500 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $355.40, for a total value of $177,700.00. Following the sale, the director directly owned 2,871 shares in the company, valued at $1,020,353.40. This trade represents a 14.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 7,298 shares of company stock valued at $2,658,721 over the last quarter. 1.10% of the stock is owned by insiders.

Tyler Technologies 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.