Adage Capital Partners GP L.L.C. Lowers Holdings in Tyler Technologies, Inc. $TYL

Key Points

• Adage Capital Partners GP L.L.C. reduced its stake in Tyler Technologies by 8.0%, holding 39,100 shares valued at approximately $22.7 million after selling 3,400 shares in the first quarter.
• Tyler Technologies reported $2.91 earnings per share for the last quarter, surpassing analysts' expectations of $2.78, with a revenue of $584.01 million.
• Several analysts have updated their price targets for Tyler Technologies, with Barclays increasing theirs from $695.00 to $715.00 and Needham setting a target of $750.00, indicating a generally positive outlook.

Adage Capital Partners GP L.L.C. cut its stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 8.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,100 shares of the technology company's stock after selling 3,400 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.09% of Tyler Technologies worth $22,732,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. AdvisorNet Financial Inc grew its holdings in shares of Tyler Technologies by 7.0% in the first quarter. AdvisorNet Financial Inc now owns 291 shares of the technology company's stock valued at $169,000 after acquiring an additional 19 shares in the last quarter. Leelyn Smith LLC raised its holdings in Tyler Technologies by 0.9% in the 1st quarter. Leelyn Smith LLC now owns 2,122 shares of the technology company's stock worth $1,234,000 after acquiring an additional 19 shares during the last quarter. Benjamin Edwards Inc. grew its position in shares of Tyler Technologies by 1.5% during the 4th quarter. Benjamin Edwards Inc. now owns 1,526 shares of the technology company's stock valued at $880,000 after acquiring an additional 22 shares during the period. MV Capital Management Inc. boosted its holdings in Tyler Technologies by 42.9% in the 1st quarter. MV Capital Management Inc. now owns 80 shares of the technology company's stock worth $47,000 after buying an additional 24 shares during the period. Finally, Curbstone Financial Management Corp raised its position in shares of Tyler Technologies by 2.2% during the 1st quarter. Curbstone Financial Management Corp now owns 1,104 shares of the technology company's stock valued at $642,000 after buying an additional 24 shares in the last quarter. Institutional investors own 93.30% of the company's stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, insider John S. Marr, Jr. sold 4,250 shares of the company's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $555.53, for a total value of $2,361,002.50. Following the completion of the transaction, the insider directly owned 6,983 shares in the company, valued at approximately $3,879,265.99. This represents a 37.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brian K. Miller sold 1,200 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $580.72, for a total value of $696,864.00. Following the sale, the chief financial officer owned 13,772 shares of the company's stock, valued at $7,997,675.84. This represents a 8.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,994 shares of company stock worth $9,811,618 in the last ninety days. 1.10% of the stock is currently owned by insiders.

Tyler Technologies Stock Down 2.2%

Shares of TYL traded down $12.13 during trading hours on Wednesday, hitting $546.28. 53,753 shares of the company were exchanged, compared to its average volume of 291,137. The firm's fifty day moving average is $569.57 and its 200 day moving average is $571.23. The company has a market cap of $23.63 billion, a price-to-earnings ratio of 78.04, a P/E/G ratio of 4.34 and a beta of 0.89. Tyler Technologies, Inc. has a fifty-two week low of $513.52 and a fifty-two week high of $661.31.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.78 by $0.13. The company had revenue of $584.01 million during the quarter, compared to the consensus estimate of $587.59 million. Tyler Technologies had a return on equity of 10.34% and a net margin of 13.66%.The firm's revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company earned $2.40 earnings per share. Tyler Technologies has set its FY 2025 guidance at 11.200-11.500 EPS. Analysts anticipate that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Tyler Technologies Company 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.