Assenagon Asset Management S.A. Cuts Position in Tyler Technologies, Inc. $TYL

Key Points

• Assenagon Asset Management S.A. has significantly reduced its stakes in Tyler Technologies, cutting its holdings by 64.5% during the second quarter, resulting in ownership of approximately 29,487 shares valued at $17.48 million.
• Tyler Technologies reported earnings per share (EPS) of $2.91 for the last quarter, surpassing estimates, while revenue grew 10.2% year-over-year despite falling short of expectations.
• Insider trading has seen notable activity, with CEO H. Lynn Moore, Jr. selling 5,250 shares, and the company maintains a strong institutional ownership at 93.30%.

Assenagon Asset Management S.A. decreased its holdings in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 64.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,487 shares of the technology company's stock after selling 53,672 shares during the quarter. Assenagon Asset Management S.A. owned about 0.07% of Tyler Technologies worth $17,481,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Two Sigma Investments LP purchased a new stake in Tyler Technologies during the 4th quarter valued at about $1,939,000. Two Sigma Advisers LP purchased a new stake in shares of Tyler Technologies during the 4th quarter worth about $231,000. GTS Securities LLC boosted its stake in shares of Tyler Technologies by 32.2% during the 4th quarter. GTS Securities LLC now owns 521 shares of the technology company's stock worth $300,000 after acquiring an additional 127 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Tyler Technologies during the 4th quarter worth about $299,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Tyler Technologies during the 4th quarter worth about $15,449,000. Institutional investors and hedge funds own 93.30% of the company's stock.

Insider Activity at Tyler Technologies

In related news, Director Glenn A. Carter sold 750 shares of the company's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $538.30, for a total value of $403,725.00. Following the completion of the transaction, the director directly owned 3,172 shares in the company, valued at approximately $1,707,487.60. This represents a 19.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO H Lynn Moore, Jr. sold 5,250 shares of the company's stock in a transaction on 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 owned 81,775 shares of the company's stock, valued at $48,156,479.75. The trade was a 6.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,500 shares of company stock worth $11,148,043. 1.10% of the stock is currently owned by insiders.

Tyler Technologies Stock Performance

Tyler Technologies stock opened at $536.83 on Tuesday. Tyler Technologies, Inc. has a fifty-two week low of $513.52 and a fifty-two week high of $661.31. The stock's fifty day moving average is $562.79 and its two-hundred day moving average is $566.49. The firm has a market capitalization of $23.22 billion, a price-to-earnings ratio of 76.69, a price-to-earnings-growth ratio of 4.10 and a beta of 0.89.

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, beating 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 period in the prior year, the business earned $2.40 earnings per share. The business's revenue 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, sell-side analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on TYL shares. DA Davidson set a $585.00 price target on shares of Tyler Technologies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Cantor Fitzgerald started coverage on shares of Tyler Technologies in a research note on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 price objective for the company. Finally, Barclays upped 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. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock 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.

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