Alliancebernstein L.P. Reduces Holdings in Tyler Technologies, Inc. $TYL

Key Points

• Alliancebernstein L.P. reduced its stake in Tyler Technologies, Inc. by 1.1% in Q1, owning approximately 45,960 shares valued at $26.72 million.
• Institutional investors hold about 93.30% of Tyler Technologies, with GAMMA Investing LLC increasing its position by over 57,694% to own approximately $510.74 million worth of shares.
• After recent transactions, insiders sold a total of 16,994 shares worth around $9.81 million, reflecting a decrease in their holdings.

Alliancebernstein L.P. cut its position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 1.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 45,960 shares of the technology company's stock after selling 525 shares during the quarter. Alliancebernstein L.P. owned approximately 0.11% of Tyler Technologies worth $26,721,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Retirement Wealth Solutions LLC purchased a new position in Tyler Technologies in the first quarter valued at about $26,000. Mowery & Schoenfeld Wealth Management LLC boosted its stake in Tyler Technologies by 820.0% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company's stock valued at $27,000 after acquiring an additional 41 shares during the last quarter. Cornerstone Planning Group LLC boosted its stake in Tyler Technologies by 221.1% in the first quarter. Cornerstone Planning Group LLC now owns 61 shares of the technology company's stock valued at $35,000 after acquiring an additional 42 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in Tyler Technologies in the first quarter valued at about $38,000. Finally, Advisors Asset Management Inc. purchased a new position in Tyler Technologies in the first quarter valued at about $38,000. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Tyler Technologies Stock Down 1.6%

Shares of Tyler Technologies stock traded down $8.75 during trading on Friday, reaching $545.24. The company's stock had a trading volume of 277,778 shares, compared to its average volume of 265,030. Tyler Technologies, Inc. has a 52-week low of $513.52 and a 52-week high of $661.31. The company has a market cap of $23.59 billion, a price-to-earnings ratio of 77.89, a PEG ratio of 4.25 and a beta of 0.89. The firm's 50-day moving average is $567.17 and its two-hundred day moving average is $570.16.

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

Analyst Ratings Changes

A number of research analysts have weighed in on TYL shares. Barclays boosted their target price 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. Wall Street Zen lowered shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Cantor Fitzgerald started coverage on shares of Tyler Technologies in a research report on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 price target on the stock. Finally, DA Davidson set a $585.00 price target on shares of Tyler Technologies and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $688.27.

Insider Buying and Selling at Tyler Technologies

In related news, CEO H Lynn Moore, Jr. sold 5,250 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $588.89, for a total value of $3,091,672.50. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John S. Marr, Jr. sold 4,250 shares of the stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $555.53, for a total transaction of $2,361,002.50. Following the completion of the transaction, the insider owned 6,983 shares of the company's stock, valued at approximately $3,879,265.99. The trade was a 37.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,750 shares of company stock valued at $10,744,318 over the last 90 days. Company insiders own 1.10% of the company's stock.

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.