Envestnet Asset Management Inc. Grows Stock Holdings in Tyler Technologies, Inc. $TYL

Envestnet Asset Management Inc. raised its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 4.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 172,932 shares of the technology company’s stock after acquiring an additional 8,126 shares during the period. Envestnet Asset Management Inc.’s holdings in Tyler Technologies were worth $90,471,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Root Financial Partners LLC purchased a new stake in shares of Tyler Technologies during the third quarter worth approximately $28,000. Generali Asset Management SPA SGR acquired a new position in Tyler Technologies in the 2nd quarter valued at $30,000. Twin Peaks Wealth Advisors LLC purchased a new position in Tyler Technologies during the 2nd quarter worth $32,000. Advisors Asset Management Inc. purchased a new position in Tyler Technologies during the 1st quarter worth $38,000. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Tyler Technologies by 137.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 69 shares of the technology company’s stock worth $40,000 after acquiring an additional 40 shares during the period. 93.30% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Brian K. Miller sold 1,000 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $469.08, for a total transaction of $469,080.00. Following the transaction, the chief financial officer directly owned 12,781 shares in the company, valued at approximately $5,995,311.48. This represents a 7.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Glenn A. Carter sold 500 shares of the company’s 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 directly owned 3,172 shares of the company’s stock, valued at approximately $1,455,091.56. This represents a 13.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 3,500 shares of company stock worth $1,605,605. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. TD Cowen reissued a “buy” rating on shares of Tyler Technologies in a report on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $750.00 target price on shares of Tyler Technologies in a research note on Tuesday, February 3rd. Piper Sandler decreased their price target on Tyler Technologies from $708.00 to $671.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. Evercore reaffirmed a “positive” rating on shares of Tyler Technologies in a report on Friday, October 31st. Finally, The Goldman Sachs Group started coverage on Tyler Technologies in a research report on Tuesday, January 13th. They issued a “buy” rating and a $560.00 price objective for the company. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $607.57.

Tyler Technologies Stock Up 2.2%

NYSE TYL opened at $348.49 on Friday. Tyler Technologies, Inc. has a fifty-two week low of $320.23 and a fifty-two week high of $661.31. The business has a fifty day moving average of $436.77 and a 200-day moving average of $494.01. The stock has a market cap of $15.00 billion, a price-to-earnings ratio of 48.47, a price-to-earnings-growth ratio of 2.35 and a beta of 0.91.

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.