NFJ Investment Group LLC Trims Stock Holdings in Tyler Technologies, Inc. $TYL

Key Points

• NFJ Investment Group LLC has reduced its stake in Tyler Technologies by 28.0%, selling 2,606 shares, which leaves them with a total of 6,694 shares valued at $3,892,000.
• Tyler Technologies reported quarterly earnings of $2.91 per share, exceeding analysts' expectations of $2.78, while revenue was $584.01 million.
• Institutional investors currently own 93.30% of Tyler Technologies' stock, indicating strong institutional interest in the company.

NFJ Investment Group LLC cut its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 28.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,694 shares of the technology company's stock after selling 2,606 shares during the quarter. NFJ Investment Group LLC's holdings in Tyler Technologies were worth $3,892,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TYL. AdvisorNet Financial Inc grew its holdings in shares of Tyler Technologies by 7.0% during the first quarter. AdvisorNet Financial Inc now owns 291 shares of the technology company's stock worth $169,000 after purchasing an additional 19 shares in the last quarter. Leelyn Smith LLC lifted its position in Tyler Technologies by 0.9% in the 1st quarter. Leelyn Smith LLC now owns 2,122 shares of the technology company's stock worth $1,234,000 after buying an additional 19 shares during the last quarter. Benjamin Edwards Inc. lifted its position in Tyler Technologies by 1.5% in the 4th quarter. Benjamin Edwards Inc. now owns 1,526 shares of the technology company's stock worth $880,000 after buying an additional 22 shares during the last quarter. MV Capital Management Inc. lifted its position in Tyler Technologies by 42.9% in the 1st quarter. MV Capital Management Inc. now owns 80 shares of the technology company's stock worth $47,000 after buying an additional 24 shares during the last quarter. Finally, Curbstone Financial Management Corp lifted its position in Tyler Technologies by 2.2% in the 1st quarter. Curbstone Financial Management Corp now owns 1,104 shares of the technology company's stock worth $642,000 after buying an additional 24 shares during the last quarter. 93.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TYL. Needham & Company LLC restated 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. DA Davidson set a $585.00 target price on Tyler Technologies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Wall Street Zen downgraded Tyler Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Finally, Barclays boosted their target price on Tyler Technologies from $695.00 to $715.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Tyler Technologies has an average rating of "Moderate Buy" and a consensus target price of $688.27.

Insider Activity at Tyler Technologies

In related news, CFO Brian K. Miller sold 1,200 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $580.72, for a total transaction of $696,864.00. Following the completion of the transaction, the chief financial officer owned 13,772 shares in the company, valued at $7,997,675.84. This represents a 8.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John S. Marr, Jr. sold 4,250 shares of the company's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $555.53, for a total value of $2,361,002.50. Following the completion of the sale, the insider directly owned 6,983 shares in the company, valued at approximately $3,879,265.99. The trade was a 37.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,994 shares of company stock worth $9,811,618 over the last quarter. 1.10% of the stock is owned by corporate insiders.

Tyler Technologies Stock Performance

Shares of Tyler Technologies stock traded down $12.33 during midday trading on Wednesday, reaching $546.08. 279,380 shares of the company's stock traded hands, compared to its average volume of 292,528. The company has a market cap of $23.62 billion, a PE ratio of 78.01, a price-to-earnings-growth ratio of 4.34 and a beta of 0.89. The stock has a 50 day moving average of $569.57 and a 200-day moving average of $571.23. Tyler Technologies, Inc. has a 12 month low of $513.52 and a 12 month high of $661.31.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its earnings results on Wednesday, July 30th. The technology company reported $2.91 EPS for the quarter, beating analysts' consensus estimates of $2.78 by $0.13. The company had revenue of $584.01 million during the quarter, compared to the consensus estimate of $587.59 million. Tyler Technologies had a return on equity of 10.34% and a net margin of 13.66%.The firm's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.40 earnings per share. Tyler Technologies has set its FY 2025 guidance at 11.200-11.500 EPS. On average, equities analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Tyler Technologies 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.