Stony Point Capital LLC Has $31.08 Million Stake in Tyler Technologies, Inc. $TYL

Key Points

• Stony Point Capital LLC has significantly increased its investment in Tyler Technologies, holding $31.08 million and making it the firm’s 7th largest position with a 212.9% increase in shares.
• Tyler Technologies reported $2.91 earnings per share, exceeding analysts' estimates, and achieved a revenue increase of 10.2% year-over-year, despite missing revenue expectations.
• Recent analyst ratings include a price target of $715.00 from Barclays and a consensus price target of $688.27, with a rating of "Moderate Buy" based on multiple ratings from 11 analysts.

Stony Point Capital LLC raised its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 212.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,465 shares of the technology company's stock after purchasing an additional 36,376 shares during the quarter. Tyler Technologies accounts for approximately 3.2% of Stony Point Capital LLC's investment portfolio, making the stock its 7th largest holding. Stony Point Capital LLC owned approximately 0.12% of Tyler Technologies worth $31,084,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in TYL. Integrated Wealth Concepts LLC lifted its position in shares of Tyler Technologies by 2.3% during the fourth quarter. Integrated Wealth Concepts LLC now owns 786 shares of the technology company's stock worth $453,000 after purchasing an additional 18 shares during the last quarter. Boothbay Fund Management LLC lifted its position in shares of Tyler Technologies by 130.2% during the fourth quarter. Boothbay Fund Management LLC now owns 900 shares of the technology company's stock worth $519,000 after purchasing an additional 509 shares during the last quarter. Beacon Pointe Advisors LLC lifted its position in shares of Tyler Technologies by 3.7% during the fourth quarter. Beacon Pointe Advisors LLC now owns 1,501 shares of the technology company's stock worth $866,000 after purchasing an additional 54 shares during the last quarter. Northern Trust Corp lifted its position 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 purchasing an additional 60,654 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Tyler Technologies by 170.0% in the fourth quarter. AQR Capital Management LLC now owns 93,485 shares of the technology company's stock valued at $53,907,000 after acquiring an additional 58,856 shares in the last quarter. 93.30% of the stock is currently owned by institutional investors.

Tyler Technologies Stock Performance

Shares of NYSE TYL opened at $555.95 on Friday. The company has a market capitalization of $24.05 billion, a PE ratio of 79.42, a price-to-earnings-growth ratio of 4.30 and a beta of 0.85. The company's fifty day moving average price is $573.52 and its 200 day moving average price is $575.65. Tyler Technologies, Inc. has a 1 year low of $513.52 and a 1 year high of $661.31.

Tyler Technologies (NYSE:TYL - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.91 earnings per share for the quarter, beating 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 company had revenue of $584.01 million during the quarter, compared to analysts' expectations of $587.59 million. During the same quarter in the previous year, the company earned $2.40 earnings per share. The firm's revenue for the quarter was up 10.2% on a year-over-year basis. Tyler Technologies has set its FY 2025 guidance at 11.200-11.500 EPS. On average, equities analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. DA Davidson set a $585.00 price objective on Tyler Technologies and gave the company a "neutral" rating in a report on Tuesday, August 5th. Wall Street Zen downgraded Tyler Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Cantor Fitzgerald assumed coverage on Tyler Technologies in a report on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 price objective for the company. Needham & Company LLC restated a "buy" rating and issued a $750.00 price objective on shares of Tyler Technologies in a report on Tuesday, May 13th. Finally, Barclays lifted 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 analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $688.27.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 1,200 shares of Tyler Technologies stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $585.92, for a total value of $703,104.00. Following the completion of the transaction, the chief financial officer owned 16,016 shares of the company's stock, valued at approximately $9,384,094.72. The trade was a 6.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO H Lynn Moore, Jr. sold 5,250 shares of Tyler Technologies 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 directly owned 81,775 shares of the company's stock, valued at $48,156,479.75. The trade was a 6.03% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,769 shares of company stock valued at $12,134,207. Corporate insiders own 1.10% of the company's stock.

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.

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