Fox Run Management L.L.C. Purchases Shares of 2,211 Tyler Technologies, Inc. $TYL

Key Points

• Fox Run Management L.L.C. acquired 2,211 shares of Tyler Technologies, valued at approximately $1,285,000, indicating growing institutional interest in the stock.
• Tyler Technologies reported a quarterly EPS of $2.91, surpassing analyst expectations, despite a 10.2% year-over-year revenue growth with revenues totaling $584.01 million.
• Institutional investors own a significant portion of Tyler Technologies, with a total of 93.30% of shares being held by such entities, reflecting strong confidence in the company's performance.

Fox Run Management L.L.C. bought a new stake in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,211 shares of the technology company's stock, valued at approximately $1,285,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TYL. Advisory Services Network LLC purchased a new stake in Tyler Technologies in the fourth quarter worth $338,000. Sterling Capital Management LLC increased its stake in Tyler Technologies by 7.0% in the fourth quarter. Sterling Capital Management LLC now owns 962 shares of the technology company's stock worth $555,000 after purchasing an additional 63 shares during the period. XTX Topco Ltd increased its stake in Tyler Technologies by 50.9% in the fourth quarter. XTX Topco Ltd now owns 1,059 shares of the technology company's stock worth $611,000 after purchasing an additional 357 shares during the period. Wasatch Advisors LP increased its stake in shares of Tyler Technologies by 3.0% during the fourth quarter. Wasatch Advisors LP now owns 2,154 shares of the technology company's stock valued at $1,242,000 after buying an additional 62 shares during the period. Finally, Marshall Wace LLP increased its stake in shares of Tyler Technologies by 897.6% during the fourth quarter. Marshall Wace LLP now owns 112,210 shares of the technology company's stock valued at $64,705,000 after buying an additional 100,962 shares during the period. 93.30% of the stock is currently owned by institutional investors.

Insider Activity

In other Tyler Technologies news, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $573.60, for a total transaction of $215,100.00. Following the sale, the insider owned 247 shares of the company's stock, valued at approximately $141,679.20. The trade was a 60.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Brian K. Miller sold 3,333 shares of the stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $568.46, for a total value of $1,894,677.18. Following the completion of the sale, the chief financial officer owned 11,231 shares of the company's stock, valued at $6,384,374.26. The trade was a 22.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,102 shares of company stock valued at $16,303,524. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on TYL shares. Robert W. Baird dropped their price objective on Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Barclays upped their target price on Tyler Technologies from $695.00 to $715.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Cantor Fitzgerald began coverage on Tyler Technologies in a research note on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 target price for the company. DA Davidson set a $585.00 price objective on Tyler Technologies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Finally, Wells Fargo & Company decreased their price objective on Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, Tyler Technologies has a consensus rating of "Moderate Buy" and an average price target of $688.27.

Tyler Technologies Trading Down 0.1%

TYL traded down $0.51 on Friday, hitting $572.73. 279,040 shares of the stock traded hands, compared to its average volume of 389,719. Tyler Technologies, Inc. has a 52 week low of $513.52 and a 52 week high of $661.31. The firm has a market capitalization of $24.78 billion, a PE ratio of 81.82, a P/E/G ratio of 4.39 and a beta of 0.85. The business has a fifty day moving average price of $577.04 and a two-hundred day moving average price of $578.20.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its quarterly earnings data 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 return on equity of 10.34% and a net margin of 13.66%. The business had revenue of $584.01 million for the quarter, compared to the consensus estimate of $587.59 million. During the same quarter last year, the business posted $2.40 EPS. The firm's revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Tyler Technologies 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.