Ascent Group LLC Purchases New Stake in Tyler Technologies, Inc. $TYL

Key Points

• Ascent Group LLC has acquired a new stake in Tyler Technologies, purchasing 3,477 shares valued at approximately $2,021,000 during the first quarter.
• Tyler Technologies reported strong earnings, with $2.91 earnings per share for the last quarter, exceeding estimates and showing a 10.2% year-over-year revenue increase.
• Institutional investors hold 93.30% of Tyler Technologies' stock, indicating significant backing from major financial entities.

Ascent Group LLC acquired a new stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 3,477 shares of the technology company's stock, valued at approximately $2,021,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Tyler Technologies by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 5,459,163 shares of the technology company's stock valued at $3,173,903,000 after buying an additional 148,762 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Tyler Technologies by 6.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 998,927 shares of the technology company's stock worth $580,766,000 after acquiring an additional 59,554 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Tyler Technologies by 57,694.7% during the 1st quarter. GAMMA Investing LLC now owns 878,480 shares of the technology company's stock worth $510,739,000 after acquiring an additional 876,960 shares in the last quarter. Northern Trust Corp raised its position in shares of Tyler Technologies by 13.9% during the 4th quarter. Northern Trust Corp now owns 497,367 shares of the technology company's stock worth $286,802,000 after acquiring an additional 60,654 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Tyler Technologies by 3.1% during the 1st quarter. JPMorgan Chase & Co. now owns 480,085 shares of the technology company's stock worth $279,117,000 after acquiring an additional 14,219 shares in the last quarter. Hedge funds and other institutional investors own 93.30% of the company's stock.

Tyler Technologies Stock Down 0.9%

TYL traded down $4.86 during trading on Thursday, hitting $555.95. 293,012 shares of the stock were exchanged, compared to its average volume of 294,180. The firm has a market capitalization of $24.05 billion, a P/E ratio of 79.42, a PEG ratio of 4.20 and a beta of 0.85. Tyler Technologies, Inc. has a 1-year low of $513.52 and a 1-year high of $661.31. The stock has a fifty day moving average price of $573.78 and a two-hundred day moving average price of $576.04.

Tyler Technologies (NYSE:TYL - Get Free Report) last released its quarterly 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. The company had revenue of $584.01 million for the quarter, compared to analyst estimates 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 quarter in the previous year, the company posted $2.40 earnings per share. Tyler Technologies has set its FY 2025 guidance at 11.200-11.500 EPS. Analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Insider Activity

In other news, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $573.60, for a total value of $215,100.00. Following the transaction, 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 document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brian K. Miller sold 1,200 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $585.92, for a total value of $703,104.00. Following the completion of the transaction, the chief financial officer directly owned 16,016 shares in the company, valued at approximately $9,384,094.72. The trade was a 6.97% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,769 shares of company stock valued at $12,134,207. Company insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TYL. Barclays raised their target price on Tyler Technologies from $695.00 to $715.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. DA Davidson set a $585.00 target price on Tyler Technologies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Wall Street Zen lowered 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 target price on shares of Tyler Technologies in a research report on Tuesday, May 13th. Finally, Cantor Fitzgerald assumed coverage on Tyler Technologies in a research report on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 target price on the stock. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Tyler Technologies has a consensus rating of "Moderate Buy" and an average price target of $688.27.

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.