Carillon Tower Advisers is Optimistic About Tyler Technologies (TYL)’s Growth

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. The second quarter witnessed a poor overall performance of mid-cap stocks. The Russell Midcap Growth Index was down 21.07% and fell more compared to its counterpart Russell Midcap Value Index (down 14.68%). In the quarter, all sector returns were negative for the Russell Midcap Growth Index due to market volatility. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Carillon Tower Advisers discussed stocks like Tyler Technologies, Inc. (NYSE:TYL) in its second quarter 2022 investor letter. Headquartered in Plano, Texas, Tyler Technologies, Inc. (NYSE:TYL) provides software solutions to the public sector. On September 2, 2022, Tyler Technologies, Inc. (NYSE:TYL) stock closed at $363.67 per share. One-month return of Tyler Technologies, Inc. (NYSE:TYL) was -12.17% and its shares lost 25.49% of their value over the last 52 weeks. Tyler Technologies, Inc. (NYSE:TYL) has a market capitalization of $15.122 billion.

Here is what Carillon Tower Advisers specifically said about Tyler Technologies, Inc. (NYSE:TYL):

“Tyler Technologies, Inc. (NYSE:TYL) provides software for state and local governments with a focus on ERP (enterprise resource planning), courts and justice, public safety, and payments. The company delivered solid results, although a mix shift toward cloud computing, where deals carry lower upfront revenue recognition, as well as cloud hosting fees and investments in products, are pressuring the outlook for near-term profitability. We remain optimistic that the company will benefit from healthy state and local budgets, especially as infrastructure funds begin to flow more freely next year.”

Tyler Technologies, Inc. (NYSE:TYL) is not on the list of 30 Most Popular Stocks Among Hedge Funds. Tyler Technologies, Inc. (NYSE:TYL) was held by 35 hedge fund portfolios at the end of the second quarter compared to 28 in the previous quarter.

We discussed Tyler Technologies, Inc. (NYSE:TYL) in another article and shared Carillon Tower Advisers’ views on the company. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.

Disclosure: None. This article is originally published at Insider Monkey.