Price T Rowe Associates Inc. MD Sells 13,084 Shares of Tyler Technologies, Inc. $TYL

Key Points

• Price T Rowe Associates Inc. MD has reduced its stake in Tyler Technologies by 4.5%, selling 13,084 shares during the first quarter, now holding approximately 0.65% of the company.
• A number of analysts have recently downgraded or adjusted ratings on Tyler Technologies, with an average rating of "Moderate Buy" and an average price target of $688.27.
• In related news, CEO H Lynn Moore, Jr. sold 5,250 shares recently, reducing his position by 6.03%, while insiders have collectively sold 20,769 shares worth approximately $12.13 million in the last ninety days.

Price T Rowe Associates Inc. MD cut its position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 279,052 shares of the technology company's stock after selling 13,084 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.65% of Tyler Technologies worth $162,239,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of TYL. Retirement Wealth Solutions LLC acquired a new position in shares of Tyler Technologies in the 1st quarter valued at about $26,000. Mowery & Schoenfeld Wealth Management LLC increased its holdings 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 worth $27,000 after purchasing an additional 41 shares in the last quarter. Cornerstone Planning Group LLC lifted its stake 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 buying an additional 42 shares during the period. Zions Bancorporation National Association UT bought a new position in shares of Tyler Technologies during the 1st quarter worth approximately $38,000. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Tyler Technologies during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 93.30% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Barclays lifted their price target on shares of Tyler Technologies from $695.00 to $715.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. DA Davidson set a $585.00 price objective on shares of Tyler Technologies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Needham & Company LLC reaffirmed a "buy" rating and issued a $750.00 target price on shares of Tyler Technologies in a research report on Tuesday, May 13th. Finally, Cantor Fitzgerald began coverage on Tyler Technologies in a research note on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 price target on the stock. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $688.27.

Tyler Technologies Stock Performance

TYL traded up $4.83 during midday trading on Friday, reaching $561.11. 136,334 shares of the company were exchanged, compared to its average volume of 293,152. The company has a market cap of $24.27 billion, a price-to-earnings ratio of 80.16, a price-to-earnings-growth ratio of 4.30 and a beta of 0.85. Tyler Technologies, Inc. has a one year low of $513.52 and a one year high of $661.31. The company's fifty day moving average price is $573.52 and its 200 day moving average price is $575.65.

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, 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 during the quarter, compared to the consensus estimate of $587.59 million. During the same quarter in the prior year, the company posted $2.40 earnings per share. Tyler Technologies'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. As a group, sell-side analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Brian K. Miller sold 1,200 shares of the firm's stock in a transaction 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 sale, the chief financial officer directly owned 13,772 shares of the company's stock, valued at $7,997,675.84. This trade represents a 8.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO H Lynn Moore, Jr. sold 5,250 shares of Tyler Technologies stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $588.89, for a total transaction of $3,091,672.50. Following the completion of the sale, the chief executive officer directly owned 81,775 shares in the company, valued at approximately $48,156,479.75. This represents a 6.03% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,769 shares of company stock valued at $12,134,207. Corporate 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.