Synovus Financial Corp Sells 1,238 Shares of Tyler Technologies, Inc. $TYL

Key Points

• Synovus Financial Corp reduced its stake in Tyler Technologies by 20%, holding 4,954 shares valued at $2.88 million after selling 1,238 shares in the first quarter.
• More than 93% of Tyler Technologies' stock is owned by institutional investors, with significant stake movements from firms like GAMMA Investing and Vanguard Group.
• Tyler Technologies reported a net margin of 13.66% and an earnings per share (EPS) of $2.91 for the last quarter, exceeding estimates, while analysts have a consensus price target of $688.27 on the stock.

Synovus Financial Corp trimmed its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 20.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,954 shares of the technology company's stock after selling 1,238 shares during the quarter. Synovus Financial Corp's holdings in Tyler Technologies were worth $2,880,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Retirement Wealth Solutions LLC acquired a new position in shares of Tyler Technologies in the 1st quarter valued at approximately $26,000. Mowery & Schoenfeld Wealth Management LLC raised its position in shares of Tyler Technologies by 820.0% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company's stock valued at $27,000 after buying an additional 41 shares in the last quarter. Cornerstone Planning Group LLC raised its position in shares of Tyler Technologies by 221.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 61 shares of the technology company's stock valued at $35,000 after buying an additional 42 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of Tyler Technologies in the 1st quarter valued at approximately $38,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Tyler Technologies in the 4th quarter valued at approximately $40,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Tyler Technologies Trading Down 0.9%

TYL traded down $4.86 during trading on Thursday, reaching $555.95. 293,012 shares of the company's stock were exchanged, compared to its average volume of 365,370. Tyler Technologies, Inc. has a one year low of $513.52 and a one year high of $661.31. The stock 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 firm has a fifty day moving average price of $573.52 and a two-hundred day moving average price of $575.65.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its 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. Tyler Technologies had a net margin of 13.66% and a return on equity of 10.34%. The firm had revenue of $584.01 million for the quarter, compared to analyst estimates of $587.59 million. During the same period in the previous year, the firm posted $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. Sell-side analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Insider Activity

In other news, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $573.60, for a total value of $215,100.00. Following the sale, the insider directly owned 247 shares of the company's stock, valued at approximately $141,679.20. This represents a 60.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Brian K. Miller sold 1,200 shares of the company'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 completion of the sale, the chief financial officer directly owned 13,772 shares in the company, valued at approximately $7,997,675.84. This represents a 8.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,769 shares of company stock valued at $12,134,207. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Tyler Technologies 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.