Martingale Asset Management L P Decreases Stock Holdings in Tyler Technologies, Inc. $TYL

Key Points

• Martingale Asset Management L P significantly reduced its stake in Tyler Technologies, Inc. by 74.9%, now holding only 919 shares after selling 2,740 shares in the first quarter.
• CEO H Lynn Moore, Jr. sold 5,250 shares of the company at an average price of $588.89, which decreased his ownership by 6.03%.
• Wall Street analysts maintain a generally positive outlook on Tyler Technologies, with a consensus price target of $688.27 and multiple brokerages issuing "buy" ratings.

Martingale Asset Management L P cut its stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 74.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 919 shares of the technology company's stock after selling 2,740 shares during the period. Martingale Asset Management L P's holdings in Tyler Technologies were worth $534,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Retirement Wealth Solutions LLC purchased a new stake in Tyler Technologies in the first quarter valued at $26,000. Mowery & Schoenfeld Wealth Management LLC lifted its position in Tyler Technologies by 820.0% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company's stock valued at $27,000 after acquiring an additional 41 shares during the last quarter. Cornerstone Planning Group LLC lifted its position in Tyler Technologies by 221.1% in the first quarter. Cornerstone Planning Group LLC now owns 61 shares of the technology company's stock valued at $35,000 after acquiring an additional 42 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in Tyler Technologies in the first quarter valued at $38,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in Tyler Technologies in the fourth quarter valued at $40,000. 93.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TYL. Needham & Company LLC reissued a "buy" rating and issued a $750.00 price target on shares of Tyler Technologies in a research report on Tuesday, May 13th. DA Davidson set a $585.00 target price on shares of Tyler Technologies and gave the company a "neutral" rating in a report on Tuesday, August 5th. Wall Street Zen cut shares of Tyler Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. 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. 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 three have assigned a Hold rating to the stock. According to data from 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 dated 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 transaction, the chief executive officer directly owned 81,775 shares of the company's stock, valued at $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 SEC, which is available at this link. Also, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $573.60, for a total transaction of $215,100.00. Following the transaction, the insider directly owned 247 shares of the company's stock, valued at $141,679.20. This represents a 60.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,769 shares of company stock valued at $12,134,207 over the last ninety days. Corporate insiders own 1.10% of the company's stock.

Tyler Technologies Stock Performance

Shares of NYSE:TYL opened at $554.7390 on Tuesday. The company has a 50-day simple moving average of $574.60 and a 200-day simple moving average of $576.34. Tyler Technologies, Inc. has a one year low of $513.52 and a one year high of $661.31. The stock has a market capitalization of $24.00 billion, a price-to-earnings ratio of 79.25, a PEG ratio of 4.30 and a beta of 0.85.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its quarterly 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. The firm had revenue of $584.01 million during the quarter, compared to analysts' expectations of $587.59 million. Tyler Technologies had a net margin of 13.66% and a return on equity of 10.34%. The firm's revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.40 earnings per share. Tyler Technologies has set its FY 2025 guidance at 11.200-11.500 EPS. As a group, research 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.

Want to see what other hedge funds are holding TYL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tyler Technologies, Inc. (NYSE:TYL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.