Bessemer Group Inc. Decreases Stock Holdings in Tyler Technologies, Inc. $TYL

Bessemer Group Inc. lessened its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 56.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,478 shares of the technology company’s stock after selling 1,926 shares during the period. Bessemer Group Inc.’s holdings in Tyler Technologies were worth $773,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. DLD Asset Management LP purchased a new stake in Tyler Technologies during the 2nd quarter worth $5,780,190,000. Norges Bank acquired a new position in shares of Tyler Technologies during the second quarter worth about $712,276,000. Principal Financial Group Inc. boosted its position in shares of Tyler Technologies by 11.4% in the third quarter. Principal Financial Group Inc. now owns 1,410,640 shares of the technology company’s stock worth $738,010,000 after buying an additional 144,612 shares during the period. Vanguard Group Inc. grew its stake in shares of Tyler Technologies by 2.0% in the second quarter. Vanguard Group Inc. now owns 5,570,120 shares of the technology company’s stock valued at $3,302,190,000 after buying an additional 110,957 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Tyler Technologies by 4.5% during the 2nd quarter. State Street Corp now owns 1,913,672 shares of the technology company’s stock valued at $1,134,501,000 after buying an additional 81,679 shares during the period. Institutional investors and hedge funds own 93.30% of the company’s stock.

Insiders Place Their Bets

In other news, Director Glenn A. Carter sold 500 shares of the stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $458.73, for a total transaction of $229,365.00. Following the transaction, the director owned 3,172 shares of the company’s stock, valued at approximately $1,455,091.56. This trade represents a 13.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brian K. Miller sold 1,000 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $469.08, for a total value of $469,080.00. Following the completion of the sale, the chief financial officer directly owned 12,781 shares of the company’s stock, valued at approximately $5,995,311.48. This represents a 7.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,500 shares of company stock worth $1,605,605 over the last quarter. 1.10% of the stock is currently owned by insiders.

Tyler Technologies Trading Up 1.5%

Tyler Technologies stock opened at $360.62 on Wednesday. Tyler Technologies, Inc. has a 52 week low of $320.23 and a 52 week high of $661.31. The stock has a market cap of $15.52 billion, a P/E ratio of 50.16, a price-to-earnings-growth ratio of 2.39 and a beta of 0.91. The stock has a 50 day moving average of $432.55 and a 200-day moving average of $490.73.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TYL. Piper Sandler decreased their price target on Tyler Technologies from $708.00 to $671.00 and set an “overweight” rating for the company in a report on Tuesday, January 13th. Needham & Company LLC restated a “buy” rating and issued a $750.00 target price on shares of Tyler Technologies in a research note on Tuesday, February 3rd. DA Davidson reaffirmed a “neutral” rating and set a $510.00 price target on shares of Tyler Technologies in a report on Tuesday, February 3rd. Oppenheimer cut their price objective on shares of Tyler Technologies from $600.00 to $510.00 and set an “outperform” rating on the stock in a report on Friday, January 23rd. Finally, Robert W. Baird set a $660.00 price objective on shares of Tyler Technologies in a research report on Friday, October 31st. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $601.14.

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.