Janney Montgomery Scott LLC Decreases Stake in Tyler Technologies, Inc. $TYL

Key Points

• Janney Montgomery Scott LLC has reduced its stake in Tyler Technologies, Inc. by 5.0%, now holding 9,969 shares valued at approximately $5.91 million at the end of the last reporting period.
• Several institutional investors, including Vanguard Group and Goldman Sachs, have increased their positions in Tyler Technologies, with a large percentage of the stock (93.30%) owned by hedge funds and institutional investors.
• The company's stock has a consensus rating of "Moderate Buy" with a price target of $688.27, while it reported an EPS of $2.91 for the last quarter, surpassing analysts' expectations.

Janney Montgomery Scott LLC reduced its stake in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 5.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,969 shares of the technology company's stock after selling 521 shares during the period. Janney Montgomery Scott LLC's holdings in Tyler Technologies were worth $5,910,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Tyler Technologies by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 5,459,163 shares of the technology company's stock worth $3,173,903,000 after buying an additional 148,762 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Tyler Technologies by 6.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 998,927 shares of the technology company's stock worth $580,766,000 after buying an additional 59,554 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Tyler Technologies by 3.1% in the 1st quarter. JPMorgan Chase & Co. now owns 480,085 shares of the technology company's stock worth $279,117,000 after buying an additional 14,219 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Tyler Technologies by 17.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 428,304 shares of the technology company's stock worth $249,012,000 after buying an additional 62,889 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Tyler Technologies by 3.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 303,076 shares of the technology company's stock worth $176,205,000 after buying an additional 11,288 shares in the last quarter. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. DA Davidson set a $585.00 price objective on shares of Tyler Technologies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Tyler Technologies in a research report on Saturday, September 27th. Finally, 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. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $688.27.

Insider Buying and Selling

In related news, CEO H Lynn Moore, Jr. sold 5,250 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $588.89, for a total transaction of $3,091,672.50. Following the completion of the sale, the chief executive officer owned 81,775 shares of the company's stock, valued at approximately $48,156,479.75. This represents a 6.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Glenn A. Carter sold 750 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $538.30, for a total transaction of $403,725.00. Following the sale, the director directly owned 3,172 shares of the company's stock, valued at approximately $1,707,487.60. This trade represents a 19.12% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,500 shares of company stock valued at $11,148,043. 1.10% of the stock is currently owned by corporate insiders.

Tyler Technologies Price Performance

NYSE TYL opened at $497.03 on Tuesday. Tyler Technologies, Inc. has a 12 month low of $494.32 and a 12 month high of $661.31. The company has a 50-day moving average of $553.99 and a 200-day moving average of $562.80. The company has a market cap of $21.50 billion, a P/E ratio of 71.00, a P/E/G ratio of 3.86 and a beta of 0.89.

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 analysts' consensus estimates of $2.78 by $0.13. The firm had revenue of $584.01 million during the quarter, compared to the consensus estimate of $587.59 million. Tyler Technologies had a net margin of 13.66% and a return on equity of 10.34%. The company's revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.40 EPS. Tyler Technologies has set its FY 2025 guidance at 11.200-11.500 EPS. As a group, equities research analysts anticipate that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Tyler Technologies Company 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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