Bessemer Group Inc. Has $2.95 Million Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Bessemer Group Inc. decreased its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 58.3% during the 1st quarter, HoldingsChannel reports. The fund owned 5,072 shares of the technology company’s stock after selling 7,078 shares during the period. Bessemer Group Inc.’s holdings in Tyler Technologies were worth $2,949,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in Tyler Technologies during the 4th quarter worth $528,465,000. GAMMA Investing LLC increased its position in Tyler Technologies by 57,694.7% in the 1st quarter. GAMMA Investing LLC now owns 878,480 shares of the technology company’s stock valued at $510,739,000 after buying an additional 876,960 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Tyler Technologies in the 4th quarter valued at about $159,947,000. Wealthfront Advisers LLC boosted its stake in Tyler Technologies by 8,973.6% during the 4th quarter. Wealthfront Advisers LLC now owns 154,433 shares of the technology company’s stock valued at $89,052,000 after purchasing an additional 152,731 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in Tyler Technologies by 897.6% during the 4th quarter. Marshall Wace LLP now owns 112,210 shares of the technology company’s stock valued at $64,705,000 after purchasing an additional 100,962 shares during the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 5,250 shares of Tyler Technologies stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $585.18, for a total value of $3,072,195.00. Following the sale, the chief executive officer now directly owns 81,775 shares in the company, valued at approximately $47,853,094.50. The trade was a 6.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brian K. Miller sold 1,044 shares of the business’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $587.20, for a total transaction of $613,036.80. Following the completion of the sale, the chief financial officer now owns 14,972 shares in the company, valued at approximately $8,791,558.40. This trade represents a 6.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,500 shares of company stock worth $15,177,230. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wall Street Zen downgraded Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. Cantor Fitzgerald began coverage on Tyler Technologies in a research note on Tuesday, June 3rd. They issued a “neutral” rating and a $600.00 price objective on the stock. Barclays lowered their target price on shares of Tyler Technologies from $700.00 to $695.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $750.00 price target on shares of Tyler Technologies in a report on Tuesday, May 13th. Finally, Robert W. Baird reduced their price objective on Tyler Technologies from $785.00 to $700.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $680.50.

Tyler Technologies Price Performance

Shares of Tyler Technologies stock opened at $581.50 on Friday. The company’s fifty day simple moving average is $567.18 and its 200-day simple moving average is $581.62. The stock has a market capitalization of $25.07 billion, a PE ratio of 87.58, a P/E/G ratio of 4.51 and a beta of 0.84. Tyler Technologies, Inc. has a 1-year low of $495.21 and a 1-year high of $661.31.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $0.22. Tyler Technologies had a net margin of 13.23% and a return on equity of 10.29%. The company had revenue of $562.43 million for the quarter, compared to analysts’ expectations of $556.45 million. During the same quarter in the previous year, the company earned $2.20 EPS. Tyler Technologies’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, research analysts anticipate that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Tyler Technologies Profile

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. It operates in two segments, Enterprise Software and Platform Technologies. The company offers platform and transformative technology solutions, including cybersecurity for government agencies; data and insights solutions; digital solutions that helps workers and policymakers to share, communicate, and leverage data; payments solutions, such as billing, presentment, merchant onboarding, collections, reconciliation, and disbursements; platform technologies, an application development platform that enables government workers to build solutions and applications; and outdoor recreation solutions, including campsite reservations, activity registrations, licensing sales and renewals, and real-time data for conservation and park management.