The Manufacturers Life Insurance Company Reduces Position in Tyler Technologies, Inc. $TYL

Key Points

• The Manufacturers Life Insurance Company reduced its stake in Tyler Technologies, Inc. by 2.3% during Q1, owning approximately 0.06% of the company worth $14.73 million by the end of the period.
• Insider transactions included CFO Brian K. Miller selling 1,200 shares for over $703,000 and CEO H Lynn Moore, Jr. selling 5,250 shares for about $3.09 million, resulting in ownership decreases of 6.97% and 6.03% respectively.
• Analysts have a moderate buy rating on Tyler Technologies, with price targets ranging from $585 to $750, indicating positive expectations for the company's future performance.

The Manufacturers Life Insurance Company decreased its stake in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 2.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,341 shares of the technology company's stock after selling 603 shares during the period. The Manufacturers Life Insurance Company owned 0.06% of Tyler Technologies worth $14,733,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Retirement Wealth Solutions LLC purchased a new position in Tyler Technologies during the first quarter worth $26,000. Mowery & Schoenfeld Wealth Management LLC increased its position in Tyler Technologies by 820.0% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company's stock worth $27,000 after buying an additional 41 shares in the last quarter. Cornerstone Planning Group LLC increased its position in Tyler Technologies by 221.1% during the first quarter. Cornerstone Planning Group LLC now owns 61 shares of the technology company's stock worth $35,000 after buying an additional 42 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in Tyler Technologies during the first quarter worth $38,000. Finally, Whipplewood Advisors LLC increased its position in Tyler Technologies by 255.0% during the first quarter. Whipplewood Advisors LLC now owns 71 shares of the technology company's stock worth $41,000 after buying an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 93.30% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on TYL. Cantor Fitzgerald began coverage on Tyler Technologies in a research report on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 price target for the company. Barclays lifted 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. 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. Wall Street Zen downgraded Tyler Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Finally, DA Davidson set a $585.00 price objective on Tyler Technologies and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $688.27.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, insider John S. Marr, Jr. sold 4,250 shares of the business's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $555.53, for a total transaction of $2,361,002.50. Following the transaction, the insider owned 6,983 shares in the company, valued at $3,879,265.99. The trade was a 37.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 5,250 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer owned 81,775 shares in the company, valued at approximately $48,156,479.75. This represents a 6.03% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,444 shares of company stock worth $13,586,917. 1.10% of the stock is owned by insiders.

Tyler Technologies Stock Performance

Tyler Technologies stock traded up $4.85 during midday trading on Friday, reaching $559.08. The stock had a trading volume of 174,404 shares, compared to its average volume of 273,139. Tyler Technologies, Inc. has a twelve month low of $513.52 and a twelve month high of $661.31. The stock has a market capitalization of $24.19 billion, a PE ratio of 79.87, a price-to-earnings-growth ratio of 4.29 and a beta of 0.89. The stock's 50-day simple moving average is $570.78 and its 200 day simple moving average is $572.05.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its earnings results 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 return on equity of 10.34% and a net margin of 13.66%.The firm had revenue of $584.01 million for the quarter, compared to analysts' expectations of $587.59 million. During the same quarter last year, the firm earned $2.40 earnings per share. The firm'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. Equities analysts predict that Tyler Technologies, Inc. will post 8.52 earnings per share 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.