McElhenny Sheffield Capital Management LLC Takes Position in Tyler Technologies, Inc. $TYL

Key Points

• McElhenny Sheffield Capital Management LLC purchased 930 shares of Tyler Technologies, Inc., valued at approximately $575,000, indicating strong interest in the technology firm's stock.
• Vanguard Group Inc. significantly increased its stake in Tyler Technologies by 2.8%, bringing its total ownership to over $3.1 billion, reflecting positive institutional sentiment in the company.
• Tyler Technologies reported earnings of $2.91 per share, exceeding estimates, and has set a target guidance of 11.200-11.500 EPS for FY 2025, showcasing expectations for continued growth.

McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 930 shares of the technology company's stock, valued at approximately $575,000.

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

Wall Street Analysts Forecast Growth

TYL has been the subject of several research reports. Weiss Ratings reiterated a "hold (c+)" rating on shares of Tyler Technologies in a research report on Saturday, September 27th. UBS Group reiterated an "overweight" rating on shares of Tyler Technologies in a research report on Wednesday. Barclays upped their target price on shares of Tyler Technologies from $695.00 to $715.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, DA Davidson set a $585.00 target price on shares of Tyler Technologies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Nine 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 company currently has a consensus rating of "Moderate Buy" and an average price target of $688.27.

Tyler Technologies Stock Up 6.6%

NYSE TYL opened at $518.01 on Thursday. The company has a 50-day simple moving average of $551.94 and a two-hundred day simple moving average of $561.96. Tyler Technologies, Inc. has a 12-month low of $483.56 and a 12-month high of $661.31. The firm has a market cap of $22.41 billion, a price-to-earnings ratio of 74.00, a PEG ratio of 3.73 and a beta of 0.89.

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, beating the consensus estimate of $2.78 by $0.13. Tyler Technologies had a net margin of 13.66% and a return on equity of 10.34%. The business had revenue of $584.01 million during the quarter, compared to analyst estimates of $587.59 million. During the same period in the prior year, the business posted $2.40 earnings per share. The company's 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. Equities analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Glenn A. Carter sold 750 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $538.30, for a total transaction of $403,725.00. Following the completion of the transaction, the director directly owned 3,172 shares of the company's stock, valued at approximately $1,707,487.60. This represents a 19.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John S. Marr, Jr. sold 4,250 shares of the company's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $555.53, for a total transaction of $2,361,002.50. Following the transaction, the insider directly owned 6,983 shares of the company's stock, valued at approximately $3,879,265.99. This trade represents a 37.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,500 shares of company stock valued at $11,148,043. Insiders own 1.10% of the company's stock.

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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