Truist Financial Corp Boosts Stake in Tyler Technologies, Inc. $TYL

Truist Financial Corp increased its holdings in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 10.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,858 shares of the technology company's stock after purchasing an additional 565 shares during the quarter. Truist Financial Corp's holdings in Tyler Technologies were worth $3,473,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. HighPoint Advisor Group LLC raised its position in Tyler Technologies by 10.9% in the 1st quarter. HighPoint Advisor Group LLC now owns 711 shares of the technology company's stock worth $380,000 after purchasing an additional 70 shares during the period. Exchange Traded Concepts LLC raised its position in Tyler Technologies by 12.6% in the 1st quarter. Exchange Traded Concepts LLC now owns 501 shares of the technology company's stock worth $291,000 after purchasing an additional 56 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Tyler Technologies by 61.2% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,747 shares of the technology company's stock worth $5,778,000 after purchasing an additional 3,699 shares during the period. Argent Capital Management LLC raised its position in Tyler Technologies by 37.4% in the 2nd quarter. Argent Capital Management LLC now owns 102,830 shares of the technology company's stock worth $60,962,000 after purchasing an additional 27,996 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its position in Tyler Technologies by 0.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,133 shares of the technology company's stock worth $2,984,000 after purchasing an additional 31 shares during the period. Hedge funds and other institutional investors own 93.30% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on TYL. DA Davidson set a $585.00 price objective on shares of Tyler Technologies and gave the company a "neutral" rating in a research report on Tuesday, August 5th. UBS Group restated an "overweight" rating on shares of Tyler Technologies in a research report on Wednesday. Weiss Ratings restated a "hold (c+)" rating on shares of Tyler Technologies in a research report on Saturday, September 27th. Finally, Barclays boosted their price objective 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. Nine investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $688.27.

Insider Buying and Selling

In related news, Director Glenn A. Carter sold 750 shares of the business's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $538.30, for a total transaction of $403,725.00. Following the sale, the director owned 3,172 shares of the company's stock, valued at $1,707,487.60. The trade was a 19.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John S. Marr, Jr. sold 4,000 shares of the business's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $560.65, for a total transaction of $2,242,600.00. Following the sale, the insider directly owned 6,983 shares in the company, valued at $3,915,018.95. The trade was a 36.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,500 shares of company stock valued at $11,148,043 over the last quarter. Corporate insiders own 1.10% of the company's stock.

Tyler Technologies Price Performance

Shares of NYSE TYL opened at $518.01 on Thursday. Tyler Technologies, Inc. has a 1 year low of $483.56 and a 1 year high of $661.31. The company's 50-day moving average is $551.94 and its 200 day moving average is $561.96. The stock has a market capitalization of $22.41 billion, a P/E ratio of 74.00, a P/E/G ratio of 3.73 and a beta of 0.89.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.91 EPS for the quarter, topping the consensus estimate of $2.78 by $0.13. Tyler Technologies had a net margin of 13.66% and a return on equity of 10.34%. The business had revenue of $584.01 million for the quarter, compared to analyst estimates of $587.59 million. During the same quarter in the previous year, the firm posted $2.40 earnings per share. Tyler Technologies's quarterly revenue was up 10.2% on a year-over-year basis. Tyler Technologies has set its FY 2025 guidance at 11.200-11.500 EPS. Research analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.