Bank of New York Mellon Corp Sells 255,274 Shares of Tyler Technologies, Inc. $TYL

Bank of New York Mellon Corp lessened its stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 48.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 268,754 shares of the technology company's stock after selling 255,274 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.64% of Tyler Technologies worth $92,016,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. increased its position in Tyler Technologies by 3.1% during the fourth quarter. Principal Financial Group Inc. now owns 1,454,061 shares of the technology company's stock worth $660,089,000 after buying an additional 43,421 shares during the last quarter. TimesSquare Capital Management LLC raised its stake in Tyler Technologies by 7.6% in the fourth quarter. TimesSquare Capital Management LLC now owns 111,702 shares of the technology company's stock valued at $50,707,000 after buying an additional 7,913 shares during the period. Norges Bank acquired a new stake in shares of Tyler Technologies in the fourth quarter valued at approximately $921,035,000. Comerica Bank lifted its position in shares of Tyler Technologies by 67.2% in the fourth quarter. Comerica Bank now owns 29,571 shares of the technology company's stock valued at $13,424,000 after buying an additional 11,889 shares during the last quarter. Finally, UBS Group AG boosted its stake in shares of Tyler Technologies by 6.0% during the 4th quarter. UBS Group AG now owns 224,644 shares of the technology company's stock worth $101,977,000 after acquiring an additional 12,673 shares during the period. 93.30% of the stock is owned by institutional investors.

Tyler Technologies Trading Down 5.7%

NYSE:TYL opened at $299.88 on Wednesday. The stock has a 50 day simple moving average of $304.71 and a 200 day simple moving average of $341.36. The stock has a market cap of $12.65 billion, a P/E ratio of 41.42, a PEG ratio of 2.11 and a beta of 0.82. Tyler Technologies, Inc. has a 1-year low of $270.71 and a 1-year high of $621.34.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The technology company reported $3.09 EPS for the quarter, beating analysts' consensus estimates of $3.01 by $0.08. The firm had revenue of $613.50 million for the quarter, compared to analyst estimates of $608.66 million. Tyler Technologies had a return on equity of 10.74% and a net margin of 13.26%.The company's revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.78 EPS. Tyler Technologies has set its FY 2026 guidance at 12.500-12.750 EPS. As a group, sell-side analysts forecast that Tyler Technologies, Inc. will post 10.04 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Robert W. Baird set a $455.00 target price on Tyler Technologies in a report on Friday, May 1st. Cantor Fitzgerald lifted their price objective on shares of Tyler Technologies from $325.00 to $360.00 and gave the stock a "neutral" rating in a research report on Friday, May 1st. Weiss Ratings downgraded shares of Tyler Technologies from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, April 24th. Citizens Jmp reissued a "market outperform" rating and issued a $500.00 price objective on shares of Tyler Technologies in a research report on Tuesday, April 28th. Finally, Truist Financial set a $440.00 target price on shares of Tyler Technologies in a research note on Friday, May 1st. Thirteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Tyler Technologies has an average rating of "Moderate Buy" and an average target price of $472.38.

About Tyler Technologies

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler's product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.

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