Patton Fund Management Inc. Takes $285,000 Position in Tyler Technologies, Inc. $TYL

Key Points

• Patton Fund Management Inc. has acquired a new stake in Tyler Technologies, Inc., investing approximately $285,000 for 480 shares in the second quarter.
• Institutional investors and hedge funds now hold 93.30% of Tyler Technologies' stock, following significant increases in holdings by companies like Vanguard and Goldman Sachs.
• Tyler Technologies reported a net margin of 13.66% and an earnings per share (EPS) of $2.91 for the last quarter, surpassing analysts' estimates.

Patton Fund Management Inc. bought a new stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 480 shares of the technology company's stock, valued at approximately $285,000.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in Tyler Technologies by 2.8% in 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 during the last quarter. Massachusetts Financial Services Co. MA raised its position in Tyler Technologies by 6.3% in 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 during the last quarter. GAMMA Investing LLC raised its position in Tyler Technologies by 57,694.7% in the 1st quarter. GAMMA Investing LLC now owns 878,480 shares of the technology company's stock valued at $510,739,000 after purchasing an additional 876,960 shares during the last quarter. JPMorgan Chase & Co. raised its position in Tyler Technologies by 3.1% in 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 during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Tyler Technologies by 17.2% in 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 during the last quarter. Institutional investors and hedge funds own 93.30% of the company's stock.

Insider Activity

In other news, Director Glenn A. Carter sold 750 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $538.30, for a total value of $403,725.00. Following the completion of the transaction, the director owned 3,172 shares in the company, valued at $1,707,487.60. This trade represents a 19.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John S. Marr, Jr. sold 4,250 shares of the 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 completion of the transaction, the insider owned 6,983 shares of the company's stock, valued at $3,879,265.99. This represents a 37.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,500 shares of company stock worth $11,148,043 in the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on TYL shares. DA Davidson set a $585.00 price target on shares of Tyler Technologies and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Barclays upped their price target on shares of Tyler Technologies from $695.00 to $715.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Finally, Cantor Fitzgerald started coverage on shares of Tyler Technologies in a research report on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 price target for the company. Eight 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, Tyler Technologies currently has an average rating of "Moderate Buy" and an average price target of $688.27.

Tyler Technologies Stock Performance

Shares of Tyler Technologies stock opened at $530.77 on Friday. The firm has a fifty day moving average of $560.11 and a two-hundred day moving average of $565.35. The company has a market cap of $22.96 billion, a P/E ratio of 75.82, a PEG ratio of 4.01 and a beta of 0.89. Tyler Technologies, Inc. has a one year low of $513.52 and a one year high of $661.31.

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

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