Geode Capital Management LLC Boosts Stock Holdings in Tyler Technologies, Inc. $TYL

Key Points

• Geode Capital Management increased its stake in Tyler Technologies by 1.1% in the fourth quarter, ending with 1,228,686 shares worth about $556.7 million.
• Tyler Technologies reported better-than-expected quarterly results, with EPS of $3.09 versus $3.01 expected and revenue of $613.5 million, up 8.5% from a year earlier.
• Analysts remain broadly positive on the stock, with a consensus rating of Moderate Buy and an average price target of $468.53, even as some insiders sold shares in recent months.

Geode Capital Management LLC grew its position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 1.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,228,686 shares of the technology company's stock after purchasing an additional 13,608 shares during the quarter. Geode Capital Management LLC owned approximately 2.86% of Tyler Technologies worth $556,725,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TYL. Salomon & Ludwin LLC increased its holdings in Tyler Technologies by 6,100.0% in the 4th quarter. Salomon & Ludwin LLC now owns 62 shares of the technology company's stock worth $27,000 after acquiring an additional 61 shares in the last quarter. Elyxium Wealth LLC purchased a new stake in Tyler Technologies in the 4th quarter worth $29,000. Cornerstone Planning Group LLC increased its holdings in Tyler Technologies by 3,900.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 80 shares of the technology company's stock worth $34,000 after acquiring an additional 78 shares in the last quarter. Advisors Asset Management Inc. purchased a new stake in Tyler Technologies in the 1st quarter worth $38,000. Finally, Geneos Wealth Management Inc. increased its holdings in Tyler Technologies by 137.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 69 shares of the technology company's stock worth $40,000 after acquiring an additional 40 shares in the last quarter. 93.30% of the stock is owned by hedge funds and other institutional investors.

Tyler Technologies Stock Up 2.2%

Tyler Technologies stock opened at $312.84 on Friday. Tyler Technologies, Inc. has a 52-week low of $283.71 and a 52-week high of $621.34. The firm has a market capitalization of $13.19 billion, a price-to-earnings ratio of 43.21, a PEG ratio of 2.11 and a beta of 0.86. The company has a fifty day simple moving average of $328.82 and a 200-day simple moving average of $383.32.

Tyler Technologies (NYSE:TYL - Get Free Report) last released its earnings results on Wednesday, April 29th. The technology company reported $3.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.01 by $0.08. Tyler Technologies had a net margin of 13.26% and a return on equity of 10.74%. The business had revenue of $613.50 million during the quarter, compared to analyst estimates of $608.66 million. During the same quarter in the prior year, the firm earned $2.78 earnings per share. The company's revenue for the quarter was up 8.5% compared to the same quarter last year. Tyler Technologies has set its FY 2026 guidance at 12.500-12.750 EPS. On average, research analysts anticipate that Tyler Technologies, Inc. will post 9.89 EPS for the current fiscal year.

Insider Transactions at Tyler Technologies

In related news, Director Glenn A. Carter sold 1,624 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $349.14, for a total value of $567,003.36. Following the completion of the sale, the director owned 5,298 shares of the company's stock, valued at approximately $1,849,743.72. This trade represents a 23.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel M. Pope sold 500 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $355.40, for a total value of $177,700.00. Following the completion of the sale, the director directly owned 2,871 shares of the company's stock, valued at approximately $1,020,353.40. This represents a 14.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 7,298 shares of company stock valued at $2,658,721 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

TYL has been the subject of several recent analyst reports. Truist Financial set a $440.00 price target on shares of Tyler Technologies in a report on Friday, May 1st. Stifel Nicolaus cut their price target on shares of Tyler Technologies from $550.00 to $400.00 and set a "buy" rating for the company in a report on Friday, February 13th. Barclays boosted their price target on shares of Tyler Technologies from $410.00 to $420.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. BTIG Research cut their price target on shares of Tyler Technologies from $470.00 to $420.00 and set a "buy" rating for the company in a report on Friday, April 10th. Finally, DA Davidson reissued a "buy" rating and issued a $460.00 price target on shares of Tyler Technologies in a report on Wednesday, May 13th. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Tyler Technologies currently has an average rating of "Moderate Buy" and an average target price of $468.53.

Tyler Technologies Company 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.

Want to see what other hedge funds are holding TYL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tyler Technologies, Inc. (NYSE:TYL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.