Procyon Advisors LLC trimmed its position in Tyler Technologies, Inc. (NYSE:TYL – Free Report) by 81.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 417 shares of the technology company’s stock after selling 1,801 shares during the quarter. Procyon Advisors LLC’s holdings in Tyler Technologies were worth $247,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Retirement Wealth Solutions LLC acquired a new stake in shares of Tyler Technologies in the 1st quarter valued at $26,000. Mowery & Schoenfeld Wealth Management LLC raised its holdings in shares of Tyler Technologies by 820.0% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company’s stock valued at $27,000 after purchasing an additional 41 shares in the last quarter. Cornerstone Planning Group LLC raised its holdings in shares of Tyler Technologies by 221.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 61 shares of the technology company’s stock valued at $35,000 after purchasing an additional 42 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Tyler Technologies in the 1st quarter valued at $38,000. Finally, Advisors Asset Management Inc. acquired a new stake in shares of Tyler Technologies in the 1st quarter valued at $38,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.
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Tyler Technologies Stock Performance
TYL stock opened at $535.02 on Friday. Tyler Technologies, Inc. has a one year low of $513.52 and a one year high of $661.31. The stock has a market capitalization of $23.14 billion, a PE ratio of 76.43, a price-to-earnings-growth ratio of 4.07 and a beta of 0.89. The company has a fifty day moving average of $563.32 and a 200-day moving average of $567.54.
Tyler Technologies (NYSE:TYL – Get Free Report) last released its earnings results on Wednesday, July 30th. The technology company reported $2.91 EPS for the quarter, topping the consensus estimate of $2.78 by $0.13. Tyler Technologies had a net margin of 13.66% and a return on equity of 10.34%. The company had revenue of $584.01 million during the quarter, compared to analysts’ expectations of $587.59 million. During the same quarter last year, the business earned $2.40 EPS. The business’s revenue was up 10.2% on a year-over-year basis. Tyler Technologies has set its FY 2025 guidance at 11.200-11.500 EPS. Equities analysts forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.
Insider Activity at Tyler Technologies
In related news, Director Glenn A. Carter sold 750 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $538.30, for a total value of $403,725.00. Following the completion of the sale, the director owned 3,172 shares in the company, valued at $1,707,487.60. This trade represents a 19.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John S. Marr, Jr. sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $560.65, for a total transaction of $2,242,600.00. Following the completion of the sale, the insider owned 6,983 shares of the company’s stock, valued at $3,915,018.95. This trade represents a 36.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,500 shares of company stock worth $11,148,043 over the last 90 days. Company insiders own 1.10% of the company’s stock.
Analysts Set New Price Targets
TYL has been the topic of a number of recent analyst reports. DA Davidson set a $585.00 target price on shares of Tyler Technologies and gave the company a “neutral” rating in a research report on Tuesday, August 5th. Barclays increased their target price on shares of Tyler Technologies from $695.00 to $715.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Finally, Cantor Fitzgerald initiated coverage on shares of Tyler Technologies in a research report on Tuesday, June 3rd. They issued a “neutral” rating and a $600.00 target price on the stock. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $688.27.
Read Our Latest Stock Analysis on TYL
Tyler Technologies Company Profile
(Free Report)
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.
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