Bank of America Corp DE Takes $116.83 Million Position in Tyler Technologies, Inc. $TYL

Key Points

• Bank of America acquired 399,478 Tyler Technologies shares worth approximately $116.83 million, representing about 0.98% of the company. Institutional investors collectively own 93.30% of Tyler Technologies.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $456.72, although several firms recently lowered their targets.
• Tyler Technologies exceeded quarterly earnings expectations, reporting $3.08 in adjusted EPS versus a $3.05 consensus estimate, while revenue rose 8.2% year over year to $645.1 million.

Bank of America Corp DE bought a new stake in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 399,478 shares of the technology company's stock, valued at approximately $116,831,000. Bank of America Corp DE owned 0.98% of Tyler Technologies as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Elyxium Wealth LLC acquired a new position in shares of Tyler Technologies in the fourth quarter worth $29,000. Bayban acquired a new position in Tyler Technologies in the 4th quarter worth about $30,000. MV Capital Management Inc. acquired a new position in Tyler Technologies in the 4th quarter worth about $37,000. Fideuram Asset Management Ireland dac purchased a new stake in shares of Tyler Technologies during the 4th quarter worth about $55,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Tyler Technologies during the 2nd quarter worth about $35,000. Hedge funds and other institutional investors own 93.30% of the company's stock.

Insider Buying and Selling

In other Tyler Technologies news, COO Jeffrey Puckett sold 8,500 shares of the company's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $356.44, for a total value of $3,029,740.00. Following the completion of the sale, the chief operating officer owned 7,784 shares of the company's stock, valued at approximately $2,774,528.96. This represents a 52.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO H Lynn Moore, Jr. sold 9,250 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $372.79, for a total transaction of $3,448,307.50. Following the completion of the sale, the chief executive officer owned 100,392 shares in the company, valued at approximately $37,425,133.68. This trade represents a 8.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TYL. JPMorgan Chase & Co. lowered their price target on Tyler Technologies from $650.00 to $525.00 and set an "overweight" rating for the company in a research note on Tuesday, June 23rd. BTIG Research cut their price objective on shares of Tyler Technologies from $420.00 to $400.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. UBS Group set a $395.00 target price on shares of Tyler Technologies in a research note on Saturday, August 1st. Barclays boosted their target price on shares of Tyler Technologies from $420.00 to $425.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 10th. Finally, TD Cowen dropped their price target on shares of Tyler Technologies from $450.00 to $400.00 and set a "buy" rating on the stock in a research note on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $456.72.

Tyler Technologies Stock Performance

NYSE TYL opened at $337.21 on Friday. Tyler Technologies, Inc. has a twelve month low of $270.71 and a twelve month high of $538.90. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.46. The stock has a market cap of $13.81 billion, a P/E ratio of 44.72, a PEG ratio of 2.25 and a beta of 0.84. The company's 50-day simple moving average is $333.22 and its 200 day simple moving average is $327.05.

Tyler Technologies (NYSE:TYL - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The technology company reported $3.08 earnings per share for the quarter, beating analysts' consensus estimates of $3.05 by $0.03. Tyler Technologies had a return on equity of 11.15% and a net margin of 13.36%.The company had revenue of $645.10 million for the quarter, compared to the consensus estimate of $647.95 million. During the same period in the previous year, the business earned $2.91 earnings per share. The company's quarterly revenue was up 8.2% on a year-over-year basis. Tyler Technologies has set its FY 2026 guidance at 12.950-13.200 EPS. As a group, research analysts forecast that Tyler Technologies, Inc. will post 10.13 earnings per share for the current fiscal year.

About Tyler Technologies

Tyler Technologies, Inc provides integrated software and technology services to the public sector. Its customers include local governments, state agencies, courts, schools and other public-sector organizations that use Tyler's solutions to manage administrative, operational and citizen-facing functions.

The company's product portfolio includes enterprise resource planning and financial management software, property tax and assessment systems, court and justice applications, public safety and emergency communications solutions, planning and regulatory systems, school administration software, and platforms for digital government services and electronic payments.

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