Is This the Time to Add Tyler Technologies (TYL) to Your Portfolio? – Yahoo Finance
TimesSquare Capital Management, an equity investment management company, released its “U.S. Concentrated Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -0.72% (net), compared to a -3.37% return for the Russell 3000 Growth Index. The energy sector remained relatively strong in the quarter while Real Estate and Consumer Staples especially detracted from performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.
TimesSquare Capital highlighted stocks like Tyler Technologies, Inc. (NYSE:TYL) in the Q3 2022 investor letter. Headquartered in Plano, Texas, Tyler Technologies, Inc. (NYSE:TYL) provides software solutions to the public sector. On December 26, 2022, Tyler Technologies, Inc. (NYSE:TYL) stock closed at $320.12 per share. One-month return of Tyler Technologies, Inc. (NYSE:TYL) was -3.25% and its shares lost 38.80% of their value over the last 52 weeks. Tyler Technologies, Inc. (NYSE:TYL) has a market capitalization of $13.33 billion.
TimesSquare Capital made the following comment about Tyler Technologies, Inc. (NYSE:TYL) in its Q3 2022 investor letter:
“New to the portfolio this quarter is Tyler Technologies, Inc. (NYSE:TYL), a provider of integrated information management solutions and services for the public sector. Management has indicated that demand is back to pre-pandemic levels and a transition to the cloud is accelerating. Tyler provides mission-critical applications that replace outdated technology at many state and local governments. Despite providing resiliency in an uncertain market, the shares pulled back by -12% and we added to the position.”
Photo by Adam Nowakowski on Unsplash
Tyler Technologies, Inc. (NYSE:TYL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 41 hedge fund portfolios held Tyler Technologies, Inc. (NYSE:TYL) at the end of the third quarter, which was 35 in the previous quarter.
We discussed Tyler Technologies, Inc. (NYSE:TYL) in another article and shared Carillon Tower Advisers’ views on the company. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
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