T. Rowe Price Investment Management Inc. Purchases 3,309 Shares of Tyler Technologies, Inc. $TYL

Key Points

• T. Rowe Price Investment Management Inc. increased its holding in Tyler Technologies by purchasing an additional 3,309 shares, bringing its total ownership to approximately 1.58 million shares valued at around $920 million.
• Tyler Technologies reported a 10.2% year-over-year increase in revenue, totaling $584.01 million, and had an EPS of $2.91, exceeding estimates by $0.13.
• Current Wall Street ratings include eight "buy" and three "hold" ratings with an average price target of $688.27 for Tyler Technologies, despite some analysts adjusting their targets downward.

T. Rowe Price Investment Management Inc. raised its position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 0.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,583,197 shares of the technology company's stock after buying an additional 3,309 shares during the quarter. T. Rowe Price Investment Management Inc. owned 3.67% of Tyler Technologies worth $920,455,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Canada Pension Plan Investment Board raised its stake in Tyler Technologies by 183.6% in the fourth quarter. Canada Pension Plan Investment Board now owns 12,270 shares of the technology company's stock valued at $7,075,000 after purchasing an additional 7,943 shares in the last quarter. First Trust Advisors LP raised its position in shares of Tyler Technologies by 31.3% during the fourth quarter. First Trust Advisors LP now owns 63,218 shares of the technology company's stock worth $36,454,000 after acquiring an additional 15,068 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Tyler Technologies by 4.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 163,791 shares of the technology company's stock valued at $94,454,000 after acquiring an additional 6,615 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Tyler Technologies by 124.5% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,594 shares of the technology company's stock worth $919,000 after buying an additional 884 shares during the period. Finally, MetLife Investment Management LLC raised its position in shares of Tyler Technologies by 1.4% in the 4th quarter. MetLife Investment Management LLC now owns 12,911 shares of the technology company's stock worth $7,445,000 after acquiring an additional 177 shares in the last quarter. 93.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TYL has been the subject of several research analyst reports. Piper Sandler decreased their price target on shares of Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Robert W. Baird lowered their target price on shares of Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Needham & Company LLC reissued a "buy" rating and issued a $750.00 price objective on shares of Tyler Technologies in a research report on Tuesday, May 13th. Cantor Fitzgerald began coverage on shares of Tyler Technologies in a research note on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 price target for the company. Finally, Barclays upped their price objective 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. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $688.27.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 1,200 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $585.92, for a total transaction 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. This trade represents a 6.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO H Lynn Moore, Jr. sold 5,250 shares of Tyler Technologies stock in a transaction dated 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 transaction, the chief executive officer directly owned 81,775 shares of the company's stock, valued at approximately $48,156,479.75. This trade represents a 6.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,769 shares of company stock worth $12,134,207 over the last 90 days. 1.10% of the stock is owned by company insiders.

Tyler Technologies Trading Down 1.1%

Shares of NYSE:TYL traded down $6.1370 on Friday, reaching $560.5330. 337,302 shares of the company traded hands, compared to its average volume of 399,211. The business's 50-day simple moving average is $575.29 and its 200 day simple moving average is $577.24. The stock has a market capitalization of $24.25 billion, a P/E ratio of 80.08, a price-to-earnings-growth ratio of 4.35 and a beta of 0.85. Tyler Technologies, Inc. has a 52 week low of $513.52 and a 52 week 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 (EPS) for the quarter, beating analysts' consensus estimates of $2.78 by $0.13. The firm had revenue of $584.01 million for the quarter, compared to analysts' expectations 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 previous year, the company earned $2.40 earnings per share. 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 EPS for the current fiscal year.

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.