Gotham Asset Management LLC Increases Position in Tyler Technologies, Inc. $TYL

Key Points

• Gotham Asset Management LLC increased its stake in Tyler Technologies by 141.4%, holding 24,424 shares valued at approximately $14.2 million as of the latest SEC filing.
• Several institutional investors like Vanguard Group Inc. and Massachusetts Financial Services Co. also raised their stakes, resulting in 93.30% of the stock being owned by institutional investors.
• Analysts have differing ratings for Tyler Technologies, with the consensus being a "Moderate Buy" and a price target of $688.27, indicating a potential for growth despite some recent stock sales by insiders.

Gotham Asset Management LLC boosted its stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 141.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,424 shares of the technology company's stock after acquiring an additional 14,308 shares during the period. Gotham Asset Management LLC owned about 0.06% of Tyler Technologies worth $14,200,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TYL. Eventide Asset Management LLC raised its holdings in shares of Tyler Technologies by 27.1% in the first quarter. Eventide Asset Management LLC now owns 32,422 shares of the technology company's stock valued at $18,847,000 after buying an additional 6,914 shares during the last quarter. Advisors Asset Management Inc. purchased a new stake in shares of Tyler Technologies in the first quarter valued at about $38,000. Aprio Wealth Management LLC purchased a new stake in shares of Tyler Technologies in the first quarter valued at about $621,000. 11 Capital Partners LP purchased a new stake in shares of Tyler Technologies in the first quarter valued at about $14,547,000. Finally, First Manhattan CO. LLC. raised its holdings in shares of Tyler Technologies by 1.8% in the first quarter. First Manhattan CO. LLC. now owns 2,069 shares of the technology company's stock valued at $1,203,000 after buying an additional 36 shares during the last quarter. 93.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Activity

In other news, CFO Brian K. Miller sold 1,200 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $580.72, for a total value of $696,864.00. Following the sale, the chief financial officer directly owned 13,772 shares in the company, valued at $7,997,675.84. This represents a 8.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John S. Marr, Jr. sold 4,250 shares of the stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $555.53, for a total transaction of $2,361,002.50. Following the completion of the sale, the insider owned 6,983 shares in the company, valued at $3,879,265.99. This represents a 37.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,994 shares of company stock worth $9,811,618 over the last ninety days. 1.10% of the stock is currently owned by insiders.

Tyler Technologies Stock Performance

TYL traded down $12.33 on Wednesday, hitting $546.08. 279,569 shares of the company were exchanged, compared to its average volume of 292,530. The business's fifty day moving average is $569.57 and its 200 day moving average is $571.23. Tyler Technologies, Inc. has a fifty-two week low of $513.52 and a fifty-two week high of $661.31. The firm has a market capitalization of $23.62 billion, a P/E ratio of 78.01, a price-to-earnings-growth ratio of 4.34 and a beta of 0.89.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its earnings results on Wednesday, July 30th. The technology company reported $2.91 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $587.59 million. During the same period in the prior year, the business posted $2.40 earnings per share. The firm's revenue for the quarter was up 10.2% compared to the same quarter last year. Tyler Technologies has set its FY 2025 guidance at 11.200-11.500 EPS. Analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

About Tyler Technologies

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.