Fifth Third Bancorp Grows Stock Position in Tyler Technologies, Inc. $TYL

Key Points

• Fifth Third Bancorp dramatically increased its stake in Tyler Technologies during the first quarter, boosting holdings by 2,513.6% to 34,343 shares worth about $11.8 million.
• Tyler Technologies reported better-than-expected quarterly results, posting EPS of $3.09 versus the $3.01 estimate and revenue of $613.5 million, up 8.5% year over year.
• Despite the positive earnings and heavy institutional ownership, the stock was down 4.1% in Wednesday trading and carries a consensus analyst rating of Moderate Buy with a $472.38 target price.

Fifth Third Bancorp boosted its holdings in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 2,513.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 34,343 shares of the technology company's stock after acquiring an additional 33,029 shares during the period. Fifth Third Bancorp owned 0.08% of Tyler Technologies worth $11,758,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in TYL. Principal Financial Group Inc. lifted its stake in Tyler Technologies by 3.1% in the 4th quarter. Principal Financial Group Inc. now owns 1,454,061 shares of the technology company's stock valued at $660,089,000 after buying an additional 43,421 shares in the last quarter. TimesSquare Capital Management LLC increased its position in Tyler Technologies by 7.6% during the fourth quarter. TimesSquare Capital Management LLC now owns 111,702 shares of the technology company's stock worth $50,707,000 after buying an additional 7,913 shares in the last quarter. Comerica Bank increased its position in Tyler Technologies by 67.2% during the fourth quarter. Comerica Bank now owns 29,571 shares of the technology company's stock worth $13,424,000 after buying an additional 11,889 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Tyler Technologies by 127.9% in the fourth quarter. SG Americas Securities LLC now owns 33,775 shares of the technology company's stock worth $15,332,000 after acquiring an additional 18,952 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Tyler Technologies in the fourth quarter worth $921,035,000. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Tyler Technologies Trading Down 4.1%

Shares of NYSE:TYL opened at $301.49 on Wednesday. The firm has a market cap of $12.71 billion, a price-to-earnings ratio of 41.64, a PEG ratio of 2.09 and a beta of 0.82. The stock's 50-day moving average price is $305.48 and its two-hundred day moving average price is $346.54. Tyler Technologies, Inc. has a 12-month low of $270.71 and a 12-month high of $621.34.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted 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 company had revenue of $613.50 million during the quarter, compared to the consensus estimate of $608.66 million. Tyler Technologies had a net margin of 13.26% and a return on equity of 10.74%. The company's quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.78 EPS. Tyler Technologies has set its FY 2026 guidance at 12.500-12.750 EPS. As a group, research analysts forecast that Tyler Technologies, Inc. will post 10.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TYL. BTIG Research reaffirmed a "buy" rating and set a $420.00 price objective on shares of Tyler Technologies in a research note on Wednesday, June 10th. Robert W. Baird set a $455.00 target price on shares of Tyler Technologies in a research note on Friday, May 1st. JPMorgan Chase & Co. reduced their target price on shares of Tyler Technologies from $650.00 to $525.00 and set an "overweight" rating on the stock in a report on Tuesday, June 23rd. Truist Financial set a $440.00 price target on shares of Tyler Technologies in a research note on Friday, May 1st. Finally, Citizens Jmp reiterated a "market outperform" rating and set a $500.00 price target on shares of Tyler Technologies in a report on Tuesday, April 28th. Thirteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $472.38.

Tyler Technologies Profile

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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