Graham Capital Management L.P. Sells 2,573 Shares of Tyler Technologies, Inc. $TYL

Key Points

• Graham Capital Management L.P. has decreased its stake in Tyler Technologies, Inc. by 35.7%, owning 4,640 shares worth approximately $2.7 million following the sale of 2,573 shares in the first quarter.
• Several hedge funds, including GAMMA Investing LLC and Vanguard Group Inc., have significantly increased their holdings in Tyler Technologies, with GAMMA's position growing by 57,694.7%, leading to ownership of 878,480 shares.
• Tyler Technologies reported $2.91 EPS, surpassing analysts' expectations, and has a consensus rating of "Moderate Buy" with a target price of $688.27.

Graham Capital Management L.P. lessened its holdings in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 35.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,640 shares of the technology company's stock after selling 2,573 shares during the period. Graham Capital Management L.P.'s holdings in Tyler Technologies were worth $2,698,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TYL. Retirement Wealth Solutions LLC purchased a new position in Tyler Technologies in the first quarter valued at approximately $26,000. Mowery & Schoenfeld Wealth Management LLC grew its holdings in Tyler Technologies by 820.0% during 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 period. Cornerstone Planning Group LLC grew its holdings in Tyler Technologies by 221.1% during 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 period. Zions Bancorporation National Association UT bought a new position in Tyler Technologies during the first quarter valued at $38,000. Finally, Whipplewood Advisors LLC grew its holdings in Tyler Technologies by 255.0% during the first quarter. Whipplewood Advisors LLC now owns 71 shares of the technology company's stock valued at $41,000 after purchasing an additional 51 shares during the period. Hedge funds and other institutional investors own 93.30% of the company's stock.

Tyler Technologies Price Performance

Shares of NYSE:TYL traded up $0.08 during trading on Thursday, hitting $553.91. 403,887 shares of the company were exchanged, compared to its average volume of 293,909. The company has a market cap of $23.96 billion, a PE ratio of 79.13, a P/E/G ratio of 4.32 and a beta of 0.89. The stock has a 50 day moving average of $571.72 and a 200 day moving average of $573.72. Tyler Technologies, Inc. has a 52-week low of $513.52 and a 52-week high of $661.31.

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

Insider Buying and Selling

In related news, insider John S. Marr, Jr. sold 4,250 shares of the stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $555.53, for a total value of $2,361,002.50. Following the sale, the insider owned 6,983 shares in the company, valued at approximately $3,879,265.99. This trade represents a 37.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO H Lynn Moore, Jr. sold 5,250 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $588.89, for a total value of $3,091,672.50. Following the completion of the sale, the chief executive officer owned 81,775 shares in the company, valued at $48,156,479.75. This trade represents a 6.03% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,644 shares of company stock worth $14,280,109. Corporate insiders own 1.10% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on TYL. Needham & Company LLC reissued a "buy" rating and set a $750.00 price objective on shares of Tyler Technologies in a report on Tuesday, May 13th. Barclays increased their price objective on Tyler Technologies from $695.00 to $715.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. DA Davidson set a $585.00 price objective on Tyler Technologies and gave the company a "neutral" rating in a report on Tuesday, August 5th. Cantor Fitzgerald began coverage on Tyler Technologies in a report on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 price objective for the company. Finally, Wall Street Zen lowered 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 issued a Hold rating to the stock. Based on data from MarketBeat, Tyler Technologies has an average rating of "Moderate Buy" and an average target price of $688.27.

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.