Millennium Management LLC Purchases 40,897 Shares of Tyler Technologies, Inc. $TYL

Key Points

• Millennium Management LLC has increased its stake in Tyler Technologies, Inc. by 82.6%, now holding 90,436 shares valued at approximately $52.58 million.
• Insider selling has occurred, with CEO H Lynn Moore, Jr. and CFO Brian K. Miller both reducing their shares, indicating a 6.03% and 8.01% decrease in their positions, respectively.
• Analysts have mixed ratings for Tyler Technologies, with a consensus rating of "Moderate Buy" and a target price ranging from $585.00 to $750.00.

Millennium Management LLC boosted its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 82.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,436 shares of the technology company's stock after purchasing an additional 40,897 shares during the period. Millennium Management LLC owned 0.21% of Tyler Technologies worth $52,579,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Retirement Wealth Solutions LLC acquired a new stake in shares of Tyler Technologies in the first quarter valued at $26,000. Mowery & Schoenfeld Wealth Management LLC lifted its position in Tyler Technologies by 820.0% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company's stock valued at $27,000 after purchasing an additional 41 shares during the period. Cornerstone Planning Group LLC lifted its position in Tyler Technologies by 221.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 61 shares of the technology company's stock valued at $35,000 after purchasing an additional 42 shares during the period. Zions Bancorporation National Association UT bought a new position in shares of Tyler Technologies in the 1st quarter valued at about $38,000. Finally, Advisors Asset Management Inc. acquired a new stake in shares of Tyler Technologies during the 1st quarter worth approximately $38,000. Institutional investors own 93.30% of the company's stock.

Insider Activity

In other Tyler Technologies news, insider John S. Marr, Jr. sold 4,250 shares of the firm's stock in a transaction that occurred on 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 sale, the insider directly owned 6,983 shares in the company, valued at approximately $3,879,265.99. This trade represents a 37.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO H Lynn Moore, Jr. sold 5,250 shares of the company's 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 transaction, the chief executive officer owned 81,775 shares of the company's stock, valued at $48,156,479.75. This trade represents a 6.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,750 shares of company stock worth $10,744,318 in the last quarter. 1.10% of the stock is currently owned by company insiders.

Tyler Technologies Trading Down 1.6%

Shares of TYL stock traded down $8.75 on Friday, hitting $545.24. The stock had a trading volume of 277,778 shares, compared to its average volume of 265,030. Tyler Technologies, Inc. has a twelve month low of $513.52 and a twelve month high of $661.31. The company has a fifty day moving average price of $567.17 and a two-hundred day moving average price of $570.16. The firm has a market cap of $23.59 billion, a P/E ratio of 77.89, a PEG ratio of 4.25 and a beta of 0.89.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.91 EPS for the quarter, topping 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 last year, the business posted $2.40 EPS. The firm's revenue was up 10.2% compared to the same quarter last year. Tyler Technologies has set its FY 2025 guidance at 11.200-11.500 EPS. On average, analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Barclays increased their price objective 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. DA Davidson set a $585.00 price target on Tyler Technologies and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Cantor Fitzgerald assumed coverage on Tyler Technologies in a research note on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 price objective for the company. Finally, Wall Street Zen downgraded Tyler Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Tyler Technologies has a consensus rating of "Moderate Buy" and an average target price of $688.27.

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.