Prudential PLC Trims Stake in Tyler Technologies, Inc. $TYL

Key Points

• Prudential PLC cut its stake in Tyler Technologies by 84% in the fourth quarter, leaving it with 927 shares worth about $421,000 at quarter-end.
• Tyler Technologies reported better-than-expected Q1 results, posting EPS of $3.09 versus $3.01 expected and revenue of $613.5 million, up 8.5% year over year.
• Analyst sentiment remains generally positive, with a Moderate Buy consensus and an average price target of $468.53, though several firms have recently lowered their targets.

Prudential PLC reduced its position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 84.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 927 shares of the technology company's stock after selling 4,872 shares during the period. Prudential PLC's holdings in Tyler Technologies were worth $421,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Vise Technologies Inc. grew its position in shares of Tyler Technologies by 19.9% during the 4th quarter. Vise Technologies Inc. now owns 549 shares of the technology company's stock valued at $249,000 after purchasing an additional 91 shares in the last quarter. Daiwa Securities Group Inc. grew its position in shares of Tyler Technologies by 1.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 6,941 shares of the technology company's stock valued at $3,151,000 after purchasing an additional 100 shares in the last quarter. TD Asset Management Inc grew its position in shares of Tyler Technologies by 0.7% during the 4th quarter. TD Asset Management Inc now owns 152,667 shares of the technology company's stock valued at $69,303,000 after purchasing an additional 1,125 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of Tyler Technologies by 71.0% during the 4th quarter. CIBC Asset Management Inc now owns 10,100 shares of the technology company's stock valued at $4,585,000 after purchasing an additional 4,194 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Tyler Technologies by 7.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 378,937 shares of the technology company's stock valued at $172,018,000 after purchasing an additional 25,859 shares in the last quarter. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Tyler Technologies Stock Performance

Shares of NYSE:TYL opened at $303.72 on Tuesday. Tyler Technologies, Inc. has a 52-week low of $283.71 and a 52-week high of $621.34. The firm has a fifty day moving average of $324.99 and a 200 day moving average of $376.22. The firm has a market capitalization of $12.81 billion, a PE ratio of 41.95, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its earnings results on Wednesday, April 29th. The technology company reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.01 by $0.08. Tyler Technologies had a net margin of 13.26% and a return on equity of 10.74%. The company had revenue of $613.50 million during the quarter, compared to analyst estimates of $608.66 million. During the same period in the previous year, the business earned $2.78 earnings per share. The firm's quarterly revenue was up 8.5% compared to the same quarter last year. Tyler Technologies has set its FY 2026 guidance at 12.500-12.750 EPS. On average, sell-side analysts forecast that Tyler Technologies, Inc. will post 9.91 EPS for the current fiscal year.

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, Director Glenn A. Carter sold 1,624 shares of the company's stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $349.14, for a total transaction of $567,003.36. Following the completion of the sale, the director directly owned 5,298 shares in the company, valued at $1,849,743.72. This represents a 23.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on TYL. Stifel Nicolaus reduced their price target on shares of Tyler Technologies from $550.00 to $400.00 and set a "buy" rating for the company in a research report on Friday, February 13th. TD Cowen reduced their price target on shares of Tyler Technologies from $600.00 to $500.00 and set a "buy" rating for the company in a research report on Friday, February 13th. Cantor Fitzgerald upped their target price on shares of Tyler Technologies from $325.00 to $360.00 and gave the stock a "neutral" rating in a research report on Friday, May 1st. DA Davidson reiterated a "buy" rating and issued a $460.00 target price on shares of Tyler Technologies in a research report on Wednesday, May 13th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $543.00 target price (down from $671.00) on shares of Tyler Technologies in a research report on Friday, February 13th. Twelve research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $468.53.

About Tyler Technologies

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler's product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.

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