Sumitomo Mitsui Trust Group Inc. Trims Holdings in Tyler Technologies, Inc. $TYL

Key Points

• Sumitomo Mitsui Trust Group Inc. trimmed its Tyler Technologies stake by 6.1% in the first quarter, selling 6,540 shares and leaving it with 101,547 shares worth about $34.8 million.
• Tyler Technologies reported better-than-expected first-quarter earnings of $3.09 per share on revenue of $613.5 million, with revenue up 8.5% year over year.
• Wall Street sentiment remains mostly positive: the stock has a Moderate Buy consensus rating, though some analysts lowered price targets and one firm downgraded the shares to sell.

Sumitomo Mitsui Trust Group Inc. cut its stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 6.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 101,547 shares of the technology company's stock after selling 6,540 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.24% of Tyler Technologies worth $34,768,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of TYL. Advisors Asset Management Inc. acquired a new position in Tyler Technologies in the 1st quarter valued at about $38,000. NewEdge Advisors LLC raised its position in shares of Tyler Technologies by 17.8% during the 1st 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. Woodline Partners LP purchased a new stake in shares of Tyler Technologies during the 1st quarter valued at approximately $2,102,000. Geneos Wealth Management Inc. lifted its holdings in Tyler Technologies by 137.9% in the first quarter. Geneos Wealth Management Inc. now owns 69 shares of the technology company's stock valued at $40,000 after acquiring an additional 40 shares during the last quarter. Finally, American Century Companies Inc. grew its position in Tyler Technologies by 12.5% in the second quarter. American Century Companies Inc. now owns 621 shares of the technology company's stock worth $368,000 after acquiring an additional 69 shares during the period. Hedge funds and other institutional investors own 93.30% of the company's stock.

Tyler Technologies Trading Up 1.5%

Shares of NYSE:TYL opened at $314.15 on Tuesday. Tyler Technologies, Inc. has a 52 week low of $270.71 and a 52 week high of $621.34. The company's 50 day moving average is $306.01 and its two-hundred day moving average is $347.67. The company has a market cap of $13.25 billion, a PE ratio of 43.39, a P/E/G ratio of 2.05 and a beta of 0.82.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its earnings results on Wednesday, April 29th. The technology company reported $3.09 EPS for the quarter, topping analysts' consensus estimates of $3.01 by $0.08. Tyler Technologies had a net margin of 13.26% and a return on equity of 10.74%. The firm had revenue of $613.50 million during the quarter, compared to the consensus estimate of $608.66 million. During the same quarter in the previous year, the firm posted $2.78 earnings per share. The company's revenue was up 8.5% compared to the same quarter last year. Tyler Technologies has set its FY 2026 guidance at 12.500-12.750 EPS. As a group, equities research analysts expect that Tyler Technologies, Inc. will post 10.04 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Weiss Ratings cut Tyler Technologies from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, April 24th. Robert W. Baird set a $455.00 price target on Tyler Technologies in a report on Friday, May 1st. Barclays raised their price objective on Tyler Technologies from $420.00 to $425.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 10th. JPMorgan Chase & Co. reduced their price objective on shares of Tyler Technologies from $650.00 to $525.00 and set an "overweight" rating on the stock in a report on Tuesday, June 23rd. Finally, BTIG Research reaffirmed a "buy" rating and issued a $420.00 target price on shares of Tyler Technologies in a research report on Wednesday, June 10th. Thirteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $472.38.

About Tyler Technologies

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler's product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.

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