Gabelli Funds LLC Has $17.59 Million Stock Position in Tyler Technologies, Inc. $TYL

Key Points

• Gabelli Funds LLC reduced its stake in Tyler Technologies, Inc. by 1.8%, owning approximately $17.59 million worth of shares after selling 550 shares in the first quarter.
• Tyler Technologies’ CEO, H Lynn Moore, Jr., sold 5,250 shares of company stock for over $3 million, reflecting a 6.03% decrease in his holdings.
• Analysts have set a target price range for Tyler Technologies, with Barclays increasing its price objective to $715.00, while Cantor Fitzgerald initiated coverage with a target of $600.00.

Gabelli Funds LLC trimmed its position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 1.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,250 shares of the technology company's stock after selling 550 shares during the quarter. Gabelli Funds LLC owned about 0.07% of Tyler Technologies worth $17,587,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Retirement Wealth Solutions LLC acquired a new stake in shares of Tyler Technologies in the first quarter worth $26,000. Mowery & Schoenfeld Wealth Management LLC lifted its stake 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 worth $27,000 after buying an additional 41 shares during the last quarter. Cornerstone Planning Group LLC lifted its stake 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 worth $35,000 after buying 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 worth $38,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Tyler Technologies in the fourth quarter worth $40,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO H Lynn Moore, Jr. sold 5,250 shares of the 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 in the company, valued at approximately $48,156,479.75. This represents a 6.03% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Brian K. Miller sold 1,200 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $585.92, for a total transaction of $703,104.00. Following the completion of the transaction, the chief financial officer owned 16,016 shares of the company's stock, valued at approximately $9,384,094.72. This represents a 6.97% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,769 shares of company stock worth $12,134,207. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on TYL shares. Barclays boosted their price objective on shares of Tyler Technologies from $695.00 to $715.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. DA Davidson set a $585.00 price target on shares of Tyler Technologies and gave the company a "neutral" rating in a report on Tuesday, August 5th. Needham & Company LLC reissued a "buy" rating and issued a $750.00 price target on shares of Tyler Technologies in a report on Tuesday, May 13th. Cantor Fitzgerald initiated coverage on shares of Tyler Technologies in a report on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 price target for the company. Finally, Wall Street Zen downgraded shares of Tyler Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $688.27.

Tyler Technologies Stock Performance

Shares of TYL stock opened at $548.10 on Wednesday. Tyler Technologies, Inc. has a 52-week low of $513.52 and a 52-week high of $661.31. The stock has a market cap of $23.71 billion, a price-to-earnings ratio of 78.30, a P/E/G ratio of 4.26 and a beta of 0.85. The firm has a fifty day moving average of $573.94 and a 200-day moving average of $576.14.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.91 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $587.59 million. During the same quarter in the prior year, the company posted $2.40 EPS. 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. On average, sell-side analysts predict that Tyler Technologies, Inc. will post 8.52 earnings per share for the current 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.

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