Tyler Technologies, Inc. $TYL Shares Acquired by Comerica Bank

Key Points

• Comerica Bank has increased its stake in Tyler Technologies by 18.2%, acquiring an additional 3,094 shares, bringing its total to 20,085 shares valued at approximately $11.68 million.
• Recent analyst reports have offered varied ratings on Tyler Technologies, with a price target range between $585.00 and $750.00; currently, the stock has an average rating of "Moderate Buy" from eight analysts.
• Tyler Technologies reported a 10.2% year-over-year revenue increase in its latest earnings, posting $2.91 EPS which exceeded analysts’ estimates of $2.78.

Comerica Bank boosted its stake in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 18.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,085 shares of the technology company's stock after buying an additional 3,094 shares during the quarter. Comerica Bank's holdings in Tyler Technologies were worth $11,677,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TYL. Retirement Wealth Solutions LLC acquired a new stake in shares of Tyler Technologies in the first quarter valued at approximately $26,000. Mowery & Schoenfeld Wealth Management LLC grew its position in shares of 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 purchasing an additional 41 shares during the last quarter. Cornerstone Planning Group LLC grew its position in shares of 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 purchasing an additional 42 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Tyler Technologies in the first quarter valued at approximately $38,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Tyler Technologies in the fourth quarter valued at approximately $40,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on TYL shares. Wall Street Zen lowered shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Needham & Company LLC reiterated a "buy" rating and issued a $750.00 price target on shares of Tyler Technologies in a report on Tuesday, May 13th. Barclays raised their price objective on Tyler Technologies from $695.00 to $715.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. DA Davidson set a $585.00 price objective on Tyler Technologies and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Finally, Cantor Fitzgerald started coverage on Tyler Technologies in a report on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 price objective on the stock. Eight equities 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 company currently has a consensus rating of "Moderate Buy" and a consensus price target of $688.27.

Insider Activity

In other news, CEO H Lynn Moore, Jr. sold 5,250 shares of the firm'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 transaction, the chief executive officer owned 81,775 shares of the company's stock, valued at approximately $48,156,479.75. This trade represents a 6.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $573.60, for a total transaction of $215,100.00. Following the sale, the insider directly 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 disclosure for this sale can be found here. In 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.

Tyler Technologies Price Performance

NYSE:TYL traded up $6.05 during trading hours on Friday, reaching $562.33. 278,126 shares of the company were exchanged, compared to its average volume of 329,290. The firm has a market cap of $24.33 billion, a price-to-earnings ratio of 80.33, a PEG ratio of 4.32 and a beta of 0.85. Tyler Technologies, Inc. has a 52-week low of $513.52 and a 52-week high of $661.31. The stock has a 50 day simple moving average of $573.37 and a 200 day simple moving average of $575.08.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.91 earnings per share for the quarter, topping analysts' consensus estimates of $2.78 by $0.13. Tyler Technologies had a net margin of 13.66% and a return on equity of 10.34%. The company had revenue of $584.01 million for the quarter, compared to the consensus estimate of $587.59 million. During the same quarter last year, the firm posted $2.40 earnings per share. Tyler Technologies'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. On average, analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Tyler Technologies 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.