Raymond James Financial Inc. Trims Stake in Tyler Technologies, Inc. $TYL

Key Points

• Raymond James Financial Inc. reduced its stake in Tyler Technologies by 6.2%, selling 17,061 shares and now holding 260,317 shares valued at approximately $151.3 million.
• Various institutional investors increased their holdings in Tyler Technologies, with notable boosts including a 20.7% increase by Adage Capital Partners GP L.L.C. in the fourth quarter.
• Despite recent sell-offs by insiders, Tyler Technologies reported a strong quarterly earnings beating analyst estimates, showing a revenue growth of 10.2% year-over-year.

Raymond James Financial Inc. trimmed its holdings in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 6.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 260,317 shares of the technology company's stock after selling 17,061 shares during the period. Raymond James Financial Inc. owned 0.60% of Tyler Technologies worth $151,345,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Tyler Technologies by 2.8% in the first quarter. Vanguard Group Inc. now owns 5,459,163 shares of the technology company's stock valued at $3,173,903,000 after buying an additional 148,762 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Tyler Technologies by 6.3% during the first 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 in the last quarter. GAMMA Investing LLC grew its stake in shares of Tyler Technologies by 57,694.7% during the first quarter. GAMMA Investing LLC now owns 878,480 shares of the technology company's stock worth $510,739,000 after buying an additional 876,960 shares during the last quarter. Northern Trust Corp grew its stake in shares of Tyler Technologies by 13.9% during the fourth quarter. Northern Trust Corp now owns 497,367 shares of the technology company's stock worth $286,802,000 after buying an additional 60,654 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Tyler Technologies by 3.1% in the first quarter. JPMorgan Chase & Co. now owns 480,085 shares of the technology company's stock worth $279,117,000 after purchasing an additional 14,219 shares during the last quarter. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO H Lynn Moore, Jr. sold 5,250 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $588.89, for a total transaction of $3,091,672.50. Following the completion of the transaction, the chief executive officer owned 81,775 shares in the company, valued at approximately $48,156,479.75. This represents a 6.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $573.60, for a total transaction of $215,100.00. Following the transaction, the insider owned 247 shares of the company's stock, valued at approximately $141,679.20. This represents a 60.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,769 shares of company stock worth $12,134,207 over the last three months. 1.10% of the stock is currently owned by company insiders.

Tyler Technologies Stock Performance

Shares of TYL traded down $6.1370 during mid-day trading on Friday, reaching $560.5330. The stock had a trading volume of 337,253 shares, compared to its average volume of 293,285. The firm has a market cap of $24.25 billion, a price-to-earnings ratio of 80.08, a PEG ratio of 4.36 and a beta of 0.85. Tyler Technologies, Inc. has a 12 month low of $513.52 and a 12 month high of $661.31. The business has a fifty day moving average of $575.69 and a 200 day moving average of $577.57.

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

Analysts Set New Price Targets

A number of brokerages have commented on TYL. Cantor Fitzgerald began coverage on shares of Tyler Technologies in a research report on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 price target on the stock. DA Davidson set a $585.00 target price on shares of Tyler Technologies and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Robert W. Baird lowered their target price on shares of Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Wall Street Zen downgraded shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Finally, Piper Sandler cut their price objective on shares of Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $688.27.

About Tyler Technologies

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.