Tyler Technologies, Inc. (NYSE:TYL) Shares Sold by Perigon Wealth Management LLC

Perigon Wealth Management LLC lessened its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 14.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 758 shares of the technology company’s stock after selling 130 shares during the period. Perigon Wealth Management LLC’s holdings in Tyler Technologies were worth $441,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Wealthquest Corp acquired a new position in shares of Tyler Technologies during the 1st quarter worth approximately $1,066,000. Strategic Investment Advisors MI purchased a new position in Tyler Technologies during the first quarter worth $1,288,000. YHB Investment Advisors Inc. acquired a new position in shares of Tyler Technologies in the first quarter worth $267,000. Duncker Streett & Co. Inc. lifted its position in shares of Tyler Technologies by 5.1% in the first quarter. Duncker Streett & Co. Inc. now owns 3,285 shares of the technology company’s stock valued at $1,910,000 after acquiring an additional 158 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of Tyler Technologies by 0.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,133 shares of the technology company’s stock valued at $2,984,000 after acquiring an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Stock Up 2.2%

NYSE:TYL opened at $593.71 on Tuesday. The business’s 50-day moving average price is $567.93 and its 200 day moving average price is $580.87. Tyler Technologies, Inc. has a 52-week low of $495.21 and a 52-week high of $661.31. The firm has a market cap of $25.60 billion, a P/E ratio of 89.41, a PEG ratio of 4.54 and a beta of 0.85.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.56 by $0.22. The company had revenue of $562.43 million during the quarter, compared to the consensus estimate of $556.45 million. Tyler Technologies had a return on equity of 10.29% and a net margin of 13.23%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.20 EPS. Sell-side analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. DA Davidson reduced their price target on Tyler Technologies from $595.00 to $570.00 and set a “neutral” rating on the stock in a research note on Friday, April 25th. Cantor Fitzgerald began coverage on Tyler Technologies in a research report on Tuesday, June 3rd. They set a “neutral” rating and a $600.00 target price on the stock. Piper Sandler lowered their price target on Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating for the company in a report on Friday, April 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $750.00 price objective on shares of Tyler Technologies in a research note on Tuesday, May 13th. Finally, Wall Street Zen cut shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $680.50.

Insider Activity

In other news, CEO H Lynn Moore, Jr. sold 5,250 shares of the company’s stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $585.18, for a total value of $3,072,195.00. Following the transaction, the chief executive officer owned 81,775 shares in the company, valued at $47,853,094.50. This represents a 6.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Brenda A. Cline sold 2,500 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $577.41, for a total transaction of $1,443,525.00. Following the completion of the sale, the director owned 2,519 shares of the company’s stock, valued at approximately $1,454,495.79. The trade was a 49.81% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,500 shares of company stock valued at $15,177,230. 1.10% of the stock is currently owned by company insiders.

Tyler Technologies Company 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.