Royal Bank of Canada Increases Stock Position in Tyler Technologies, Inc. $TYL

Key Points

• The Royal Bank of Canada increased its stake in Tyler Technologies, Inc. by 21.1%, now holding approximately $66.91 million in stock.
• Research firms have given mixed ratings for Tyler Technologies, with eight analysts recommending a Buy rating and three a Hold rating, leading to a consensus rating of "Moderate Buy."
• Tyler Technologies reported a 10.2% increase in quarterly revenue year-over-year, with earnings per share surpassing analyst expectations.

Royal Bank of Canada raised its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 21.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 115,082 shares of the technology company's stock after purchasing an additional 20,066 shares during the quarter. Royal Bank of Canada owned 0.27% of Tyler Technologies worth $66,908,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. AdvisorNet Financial Inc lifted its holdings in shares of Tyler Technologies by 7.0% in the 1st quarter. AdvisorNet Financial Inc now owns 291 shares of the technology company's stock valued at $169,000 after acquiring an additional 19 shares during the last quarter. Leelyn Smith LLC raised its position in Tyler Technologies by 0.9% during the first quarter. Leelyn Smith LLC now owns 2,122 shares of the technology company's stock valued at $1,234,000 after purchasing an additional 19 shares during the period. Benjamin Edwards Inc. lifted its stake in shares of Tyler Technologies by 1.5% in the 4th quarter. Benjamin Edwards Inc. now owns 1,526 shares of the technology company's stock valued at $880,000 after purchasing an additional 22 shares during the last quarter. MV Capital Management Inc. boosted its holdings in shares of Tyler Technologies by 42.9% in the 1st quarter. MV Capital Management Inc. now owns 80 shares of the technology company's stock worth $47,000 after purchasing an additional 24 shares during the period. Finally, Curbstone Financial Management Corp boosted its holdings in shares of Tyler Technologies by 2.2% in the 1st quarter. Curbstone Financial Management Corp now owns 1,104 shares of the technology company's stock worth $642,000 after purchasing an additional 24 shares during the period. 93.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Brian K. Miller sold 1,200 shares of the 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 transaction, the chief financial officer owned 13,772 shares of the company's stock, valued at approximately $7,997,675.84. This represents a 8.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO H Lynn Moore, Jr. sold 5,250 shares of the firm's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $588.89, for a total value of $3,091,672.50. Following 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 16,994 shares of company stock valued at $9,811,618 over the last quarter. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on TYL. Needham & Company LLC restated a "buy" rating and set a $750.00 price target on shares of Tyler Technologies in a report on Tuesday, May 13th. Cantor Fitzgerald assumed coverage on shares of Tyler Technologies in a research note on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 target price on the stock. DA Davidson set a $585.00 price target on shares of Tyler Technologies and gave the stock a "neutral" rating in a research note 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 report on Thursday, July 31st. Finally, Wall Street Zen downgraded shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Eight 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 a consensus rating of "Moderate Buy" and an average target price of $688.27.

Tyler Technologies Stock Down 2.2%

TYL traded down $12.33 on Wednesday, reaching $546.08. 279,569 shares of the company traded hands, compared to its average volume of 263,446. The company has a market cap of $23.62 billion, a P/E ratio of 78.01, a price-to-earnings-growth ratio of 4.28 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. The firm has a fifty day simple moving average of $568.81 and a two-hundred day simple moving average of $571.05.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its earnings results on Wednesday, July 30th. The technology company reported $2.91 EPS for the quarter, topping analysts' consensus estimates of $2.78 by $0.13. Tyler Technologies had a net margin of 13.66% and a return on equity of 10.34%. The business had revenue of $584.01 million for the quarter, compared to the consensus estimate of $587.59 million. During the same period in the prior year, the firm earned $2.40 EPS. The company's revenue for the quarter 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. On average, equities analysts forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

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.