Tyler Technologies, Inc. $TYL Shares Sold by Trust Point Inc.

Key Points

• Trust Point Inc. reduced its holdings in Tyler Technologies by 33.3%, owning 1,212 shares worth approximately $719,000 after selling 606 shares during the second quarter.
• Tyler Technologies is experiencing significant interest from institutional investors, who own about 93.30% of the company's stock, with several hedge funds recently adjusting their positions.
• Research analysts have varying target prices for Tyler Technologies, with Barclays raising its target from $695.00 to $715.00 and assigning an "overweight" rating.

Trust Point Inc. cut its holdings in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 33.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,212 shares of the technology company's stock after selling 606 shares during the period. Trust Point Inc.'s holdings in Tyler Technologies were worth $719,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Retirement Wealth Solutions LLC acquired a new position in Tyler Technologies in the first quarter valued at $26,000. Mowery & Schoenfeld Wealth Management LLC increased its holdings in 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 purchasing an additional 41 shares in the last quarter. Cornerstone Planning Group LLC increased its holdings in 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 purchasing an additional 42 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in Tyler Technologies in the 1st quarter valued at $38,000. Finally, Advisors Asset Management Inc. acquired a new stake in Tyler Technologies in the 1st quarter valued at $38,000. Institutional investors and hedge funds own 93.30% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TYL shares. Barclays increased their price target on Tyler Technologies from $695.00 to $715.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Cantor Fitzgerald assumed coverage on Tyler Technologies in a report on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 price target for the company. Finally, 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. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Tyler Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $688.27.

Tyler Technologies Stock Performance

Tyler Technologies stock traded up $2.51 during midday trading on Monday, reaching $536.83. 164,906 shares of the company were exchanged, compared to its average volume of 296,320. The company has a market capitalization of $23.22 billion, a price-to-earnings ratio of 76.69, a P/E/G ratio of 4.10 and a beta of 0.89. The firm's 50-day simple moving average is $563.32 and its 200-day simple moving average is $566.86. Tyler Technologies, Inc. has a 1 year low of $513.52 and a 1 year high of $661.31.

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

Insider Activity

In other news, CEO H Lynn Moore, Jr. sold 5,250 shares of Tyler Technologies 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 directly owned 81,775 shares of the company's stock, valued at $48,156,479.75. The trade was a 6.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider John S. Marr, Jr. sold 4,250 shares of Tyler Technologies stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $555.53, for a total value of $2,361,002.50. Following the completion of the transaction, the insider directly owned 6,983 shares in the company, valued at $3,879,265.99. This represents a 37.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,500 shares of company stock valued at $11,148,043 in the last three months. Corporate insiders own 1.10% of the company's stock.

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.