Select Equity Group L.P. Invests $19 Million in Tyler Technologies, Inc. $TYL

Key Points

• Select Equity Group L.P. has acquired a new stake in Tyler Technologies, Inc., purchasing 32,687 shares valued at approximately $19 million, which represents 0.08% ownership of the company.
• Tyler Technologies reported a 10.2% increase in revenue year-over-year with earnings per share of $2.91, surpassing analysts' estimates.
• Insider trading activity included CEO H Lynn Moore, Jr. selling 5,250 shares for about $3.1 million, reflecting a decrease in his ownership by 6.03%.

Select Equity Group L.P. bought a new stake in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 32,687 shares of the technology company's stock, valued at approximately $19,004,000. Select Equity Group L.P. owned approximately 0.08% of Tyler Technologies as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in TYL. Petrus Trust Company LTA bought a new position in Tyler Technologies during the 1st quarter worth about $277,000. PharVision Advisers LLC purchased a new stake in shares of Tyler Technologies in the 1st quarter worth approximately $216,000. Nissay Asset Management Corp Japan ADV boosted its stake in shares of Tyler Technologies by 1.5% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 5,258 shares of the technology company's stock valued at $3,057,000 after purchasing an additional 80 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Tyler Technologies by 17.8% during the first quarter. NewEdge Advisors LLC now owns 251 shares of the technology company's stock valued at $146,000 after buying an additional 38 shares during the period. Finally, Millennium Management LLC raised its stake in Tyler Technologies by 82.6% in the first quarter. Millennium Management LLC now owns 90,436 shares of the technology company's stock worth $52,579,000 after buying an additional 40,897 shares in the last quarter. Institutional investors own 93.30% of the company's stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, CFO Brian K. Miller sold 1,200 shares of the business's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $580.72, for a total transaction of $696,864.00. Following the sale, the chief financial officer directly owned 13,772 shares of the company's stock, valued at $7,997,675.84. The trade was a 8.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 5,250 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $588.89, for a total value of $3,091,672.50. Following the completion of the transaction, the chief executive officer owned 81,775 shares of the company's stock, valued at $48,156,479.75. This trade represents a 6.03% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,994 shares of company stock valued at $9,811,618. Insiders own 1.10% of the company's stock.

Tyler Technologies Price Performance

NYSE TYL traded down $12.33 during trading on Wednesday, hitting $546.08. The company's stock had a trading volume of 279,569 shares, compared to its average volume of 292,530. Tyler Technologies, Inc. has a fifty-two week low of $513.52 and a fifty-two week high of $661.31. The company has a market cap of $23.62 billion, a PE ratio of 78.01, a P/E/G ratio of 4.34 and a beta of 0.89. The business's 50 day simple moving average is $569.57 and its 200-day simple moving average is $571.23.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.13. The firm had revenue of $584.01 million for the quarter, compared to the consensus estimate 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 for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.40 earnings per share. Tyler Technologies has set its FY 2025 guidance at 11.200-11.500 EPS. Analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal 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.