Impax Asset Management Group plc Invests $106.74 Million in Tyler Technologies, Inc. $TYL

Key Points

• Impax Asset Management established a new position in Tyler Technologies by purchasing 235,136 shares worth approximately $106.74 million, representing about 0.55% of the company.
• Insider activity shows the COO sold 5,174 shares for roughly $1.91 million and insiders net sold 7,298 shares (~$2.66 million) in the last 90 days, while corporate insiders own 1.10% and institutional investors control about 93.3% of the stock.
• Tyler recently missed quarterly estimates with EPS of $2.64 (vs. $2.71 expected) and revenue of $575.2 million (vs. $591.1 million), yet analysts maintain a consensus "Moderate Buy" with an average price target of about $463.69.

Impax Asset Management Group plc purchased a new position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 235,136 shares of the technology company's stock, valued at approximately $106,740,000. Impax Asset Management Group plc owned about 0.55% of Tyler Technologies as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TYL. Advisors Asset Management Inc. acquired a new position in shares of Tyler Technologies during the first quarter worth approximately $38,000. NewEdge Advisors LLC lifted its holdings in shares of Tyler Technologies by 17.8% during the first quarter. NewEdge Advisors LLC now owns 251 shares of the technology company's stock worth $146,000 after buying an additional 38 shares during the last quarter. Woodline Partners LP acquired a new position in shares of Tyler Technologies during the first quarter worth approximately $2,102,000. Geneos Wealth Management Inc. raised its stake in shares of Tyler Technologies by 137.9% in the first quarter. Geneos Wealth Management Inc. now owns 69 shares of the technology company's stock valued at $40,000 after purchasing an additional 40 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Tyler Technologies by 12.5% in the second quarter. American Century Companies Inc. now owns 621 shares of the technology company's stock valued at $368,000 after purchasing an additional 69 shares in the last quarter. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, COO Jeffrey David Puckett sold 5,174 shares of the stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $369.93, for a total value of $1,914,017.82. Following the transaction, the chief operating officer owned 7,754 shares of the company's stock, valued at approximately $2,868,437.22. This represents a 40.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Abigail Marshall Diaz-Pedrosa bought 610 shares of the business's stock in a transaction on Friday, February 20th. The stock was bought at an average cost of $325.08 per share, for a total transaction of $198,298.80. Following the purchase, the insider directly owned 1,123 shares of the company's stock, valued at approximately $365,064.84. This trade represents a 118.91% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have sold 7,298 shares of company stock valued at $2,658,721. Corporate insiders own 1.10% of the company's stock.

Tyler Technologies Trading Up 1.8%

TYL opened at $341.70 on Friday. The firm has a 50-day moving average price of $340.02 and a two-hundred day moving average price of $412.22. The stock has a market capitalization of $14.51 billion, a PE ratio of 47.46, a PEG ratio of 2.25 and a beta of 0.92. Tyler Technologies, Inc. has a 1-year low of $283.71 and a 1-year high of $621.34.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The technology company reported $2.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.07). Tyler Technologies had a net margin of 13.53% and a return on equity of 10.42%. The firm had revenue of $575.18 million during the quarter, compared to the consensus estimate of $591.09 million. During the same quarter in the prior year, the business earned $2.43 EPS. Tyler Technologies's revenue was up 6.3% on a year-over-year basis. On average, research analysts predict that Tyler Technologies, Inc. will post 9.93 EPS for the current year.

Analyst Ratings Changes

TYL has been the subject of a number of recent research reports. DA Davidson restated a "buy" rating and issued a $460.00 target price on shares of Tyler Technologies in a research note on Tuesday, April 14th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $325.00 price target on shares of Tyler Technologies in a research report on Friday, February 13th. Robert W. Baird set a $440.00 price target on Tyler Technologies in a research report on Friday, February 13th. Barclays lowered their price target on Tyler Technologies from $715.00 to $410.00 and set an "overweight" rating on the stock in a research report on Friday, February 13th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Tyler Technologies in a report on Friday, January 9th. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $463.69.

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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