Tyler Technologies, Inc. (NYSE:TYL) Position Decreased by People s United Financial Inc. – Defense World
Posted by admin on Aug 20th, 2022 
People s United Financial Inc. decreased its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL – Get Rating) by 16.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 588 shares of the technology company’s stock after selling 112 shares during the period. People s United Financial Inc.’s holdings in Tyler Technologies were worth $262,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealth Alliance boosted its holdings in shares of Tyler Technologies by 4.8% in the first quarter. Wealth Alliance now owns 697 shares of the technology company’s stock worth $310,000 after buying an additional 32 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Tyler Technologies during the first quarter worth approximately $210,000. Oak Thistle LLC acquired a new stake in shares of Tyler Technologies during the first quarter worth approximately $250,000. WMS Partners LLC acquired a new stake in shares of Tyler Technologies during the first quarter worth approximately $273,000. Finally, Treasurer of the State of North Carolina boosted its holdings in shares of Tyler Technologies by 1.6% during the first quarter. Treasurer of the State of North Carolina now owns 15,391 shares of the technology company’s stock worth $6,847,000 after purchasing an additional 238 shares during the period. 90.14% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently commented on the stock. TheStreet cut shares of Tyler Technologies from a “b-” rating to a “c+” rating in a report on Wednesday, April 27th. Barclays decreased their price target on shares of Tyler Technologies from $445.00 to $370.00 and set an “equal weight” rating for the company in a report on Tuesday, July 12th. Piper Sandler raised their price target on shares of Tyler Technologies from $405.00 to $468.00 and gave the stock an “overweight” rating in a report on Friday, July 29th. Wolfe Research raised their price target on shares of Tyler Technologies from $400.00 to $460.00 and gave the stock an “outperform” rating in a report on Monday, August 1st. Finally, Robert W. Baird decreased their price target on shares of Tyler Technologies from $600.00 to $500.00 in a report on Friday, July 29th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $480.08.
NYSE:TYL opened at $397.30 on Friday. Tyler Technologies, Inc. has a 12 month low of $300.85 and a 12 month high of $557.55. The firm has a market cap of $16.52 billion, a price-to-earnings ratio of 94.37 and a beta of 0.90. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. The company’s 50 day moving average is $360.71 and its 200-day moving average is $389.15.
Tyler Technologies (NYSE:TYL – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The technology company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.05. Tyler Technologies had a net margin of 9.84% and a return on equity of 10.26%. The company had revenue of $468.70 million for the quarter, compared to analyst estimates of $458.50 million. During the same quarter last year, the firm posted $1.42 earnings per share. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. Equities analysts anticipate that Tyler Technologies, Inc. will post 5.53 EPS for the current year.
In other news, Chairman John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $363.75, for a total value of $2,182,500.00. Following the transaction, the chairman now owns 57,638 shares of the company’s stock, valued at $20,965,822.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.00% of the company’s stock.
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Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. The company operates in three segments: Enterprise Software; Appraisal and Tax; and NIC. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools.
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