Magnetar Financial LLC Invests $1.41 Million in Tyler Technologies, Inc. $TYL

Key Points

• Magnetar Financial LLC invested approximately $1.41 million in Tyler Technologies, acquiring 2,416 shares during the first quarter.
• Tyler Technologies has been experiencing interest from various hedge funds, with 93.30% of its stock currently owned by institutional investors.
• The company's earnings report showed a quarterly EPS of $2.91, surpassing estimates, and a revenue increase of 10.2% year-over-year.

Magnetar Financial LLC acquired a new position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,416 shares of the technology company's stock, valued at approximately $1,405,000.

Several other hedge funds have also recently made changes to their positions in the business. Canada Pension Plan Investment Board raised its position in shares of Tyler Technologies by 29.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 15,870 shares of the technology company's stock worth $9,227,000 after acquiring an additional 3,600 shares in the last quarter. WPG Advisers LLC bought a new position in shares of Tyler Technologies in the 1st quarter worth about $102,000. Next Century Growth Investors LLC raised its position in shares of Tyler Technologies by 5.7% in the 1st quarter. Next Century Growth Investors LLC now owns 3,630 shares of the technology company's stock worth $2,110,000 after acquiring an additional 197 shares in the last quarter. Oarsman Capital Inc. raised its position in shares of Tyler Technologies by 2.5% in the 1st quarter. Oarsman Capital Inc. now owns 4,107 shares of the technology company's stock worth $2,388,000 after acquiring an additional 99 shares in the last quarter. Finally, Truvestments Capital LLC raised its position in shares of Tyler Technologies by 2,835.3% in the 1st quarter. Truvestments Capital LLC now owns 499 shares of the technology company's stock worth $290,000 after acquiring an additional 482 shares in the last quarter. 93.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Insider Transactions at Tyler Technologies

In related news, CEO H Lynn Moore, Jr. sold 5,250 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer owned 81,775 shares in the company, valued at approximately $48,156,479.75. This represents a 6.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $573.60, for a total value of $215,100.00. Following the sale, the insider owned 247 shares in the company, valued at approximately $141,679.20. This represents a 60.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,019 shares of company stock worth $14,495,209 in the last ninety days. Company insiders own 1.10% of the company's stock.

Tyler Technologies Stock Up 0.1%

Tyler Technologies stock traded up $0.74 during trading on Wednesday, hitting $553.23. The stock had a trading volume of 168,790 shares, compared to its average volume of 293,292. Tyler Technologies, Inc. has a 1 year low of $513.52 and a 1 year high of $661.31. The stock's 50 day moving average is $572.30 and its two-hundred day moving average is $573.86. The stock has a market cap of $23.93 billion, a price-to-earnings ratio of 79.03, a price-to-earnings-growth ratio of 4.32 and a beta of 0.89.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.91 EPS for the quarter, beating 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 business 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 earned $2.40 earnings per share. Tyler Technologies's revenue for the quarter was up 10.2% on a year-over-year basis. 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 fiscal 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.