Tyler Technologies, Inc. $TYL Shares Sold by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC sold 3,079 shares of Tyler Technologies, reducing its holdings by 21.1% to a total of 11,486 shares worth approximately $6.68 million.
• Equities analysts have a "Moderate Buy" rating for Tyler Technologies, with an average price target of $688.27, while performance and growth forecasts indicate potential for an EPS of 8.52 this year.
• Recent insider selling by CEO H Lynn Moore, Jr. included the sale of 5,250 shares for about $3.09 million, representing a 6.03% decrease in his stake in the company.

Rafferty Asset Management LLC reduced its position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 21.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,486 shares of the technology company's stock after selling 3,079 shares during the quarter. Rafferty Asset Management LLC's holdings in Tyler Technologies were worth $6,678,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Retirement Wealth Solutions LLC bought a new stake in Tyler Technologies during the first quarter worth $26,000. Mowery & Schoenfeld Wealth Management LLC grew its stake in shares of Tyler Technologies by 820.0% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company's stock worth $27,000 after acquiring an additional 41 shares during the period. Cornerstone Planning Group LLC grew its stake in shares of Tyler Technologies by 221.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 61 shares of the technology company's stock worth $35,000 after acquiring an additional 42 shares during the period. Zions Bancorporation National Association UT purchased a new stake in Tyler Technologies during the 1st quarter worth about $38,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Tyler Technologies in the 4th quarter valued at about $40,000. 93.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Tyler Technologies Price Performance

Shares of NYSE TYL traded up $6.05 during mid-day trading on Friday, reaching $562.33. The company's stock had a trading volume of 278,126 shares, compared to its average volume of 313,456. The firm has a market capitalization of $24.33 billion, a PE ratio of 80.33, a P/E/G ratio of 4.32 and a beta of 0.89. The stock has a fifty day moving average of $573.37 and a two-hundred day moving average of $574.57. Tyler Technologies, Inc. has a 52 week low of $513.52 and a 52 week 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 EPS for the quarter, beating analysts' consensus estimates of $2.78 by $0.13. Tyler Technologies had a return on equity of 10.34% and a net margin of 13.66%.The company had revenue of $584.01 million during the quarter, compared to analyst estimates of $587.59 million. During the same period in the prior year, the company earned $2.40 earnings per share. The firm's revenue was up 10.2% on a year-over-year basis. Tyler Technologies has set its FY 2025 guidance at 11.200-11.500 EPS. Analysts anticipate that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tyler Technologies news, 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 owned 81,775 shares of the company's stock, valued at approximately $48,156,479.75. The trade was a 6.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $573.60, for a total value of $215,100.00. Following the completion of the transaction, the insider directly owned 247 shares of the company's stock, valued at approximately $141,679.20. This trade represents a 60.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,769 shares of company stock worth $12,134,207 in the last ninety days. 1.10% of the stock is owned by company insiders.

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.