FORA Capital LLC Takes $355,000 Position in Tyler Technologies, Inc. $TYL

Key Points

• FORA Capital LLC acquired 610 shares of Tyler Technologies, Inc., valued at approximately $355,000, during the first quarter.
• Tyler Technologies' CFO and CEO recently sold shares worth over $3.7 million, leading to a decrease in their ownership positions.
• Equities analysts have shown optimism, with Barclays raising their price target for the stock from $695.00 to $715.00, while the consensus average price target is now $688.27.

FORA Capital LLC acquired a new position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 610 shares of the technology company's stock, valued at approximately $355,000.

Several other large investors also recently added to or reduced their stakes in TYL. HighPoint Advisor Group LLC lifted its stake in Tyler Technologies by 10.9% in the first quarter. HighPoint Advisor Group LLC now owns 711 shares of the technology company's stock worth $380,000 after purchasing an additional 70 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in Tyler Technologies by 12.6% in the first quarter. Exchange Traded Concepts LLC now owns 501 shares of the technology company's stock worth $291,000 after purchasing an additional 56 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Tyler Technologies by 0.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,133 shares of the technology company's stock worth $2,984,000 after purchasing an additional 31 shares during the last quarter. CX Institutional bought a new stake in Tyler Technologies in the first quarter worth about $176,000. Finally, Kestra Private Wealth Services LLC bought a new stake in Tyler Technologies in the first quarter worth about $358,000. 93.30% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Brian K. Miller sold 1,200 shares of the business's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $580.72, for a total transaction of $696,864.00. Following the sale, the chief financial officer directly owned 13,772 shares of the company's stock, valued at $7,997,675.84. The trade was a 8.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 5,250 shares of the business's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $588.89, for a total transaction of $3,091,672.50. Following the sale, the chief executive officer directly owned 81,775 shares in the company, valued at $48,156,479.75. This trade represents a 6.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,769 shares of company stock valued at $12,134,207 over the last ninety days. 1.10% of the stock is currently owned by insiders.

Tyler Technologies Stock Performance

NYSE:TYL traded up $6.05 during trading hours on Friday, reaching $562.33. The company's stock had a trading volume of 278,126 shares, compared to its average volume of 313,456. The company has a market capitalization of $24.33 billion, a P/E ratio of 80.33, a price-to-earnings-growth ratio of 4.32 and a beta of 0.89. Tyler Technologies, Inc. has a 12 month low of $513.52 and a 12 month high of $661.31. The stock has a 50 day moving average price of $573.37 and a two-hundred day moving average price of $574.57.

Tyler Technologies (NYSE:TYL - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.91 earnings per share (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 business had revenue of $584.01 million for the quarter, compared to analyst estimates of $587.59 million. During the same period in the previous year, the company earned $2.40 earnings per share. The business's revenue for the quarter was up 10.2% on a year-over-year basis. Tyler Technologies has set its FY 2025 guidance at 11.200-11.500 EPS. As a group, analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Analysts Set New Price Targets

TYL has been the subject of several analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $750.00 price objective on shares of Tyler Technologies in a research note on Tuesday, May 13th. Barclays raised their price objective on shares of Tyler Technologies from $695.00 to $715.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Wall Street Zen downgraded shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Cantor Fitzgerald initiated coverage on shares of Tyler Technologies in a research note on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 price target for the company. Finally, DA Davidson set a $585.00 price target on shares of Tyler Technologies and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Tyler Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $688.27.

About Tyler Technologies

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.