Twin Tree Management LP Takes $2.05 Million Position in Tyler Technologies, Inc. $TYL

Key Points

• Twin Tree Management LP has acquired a new position in Tyler Technologies, purchasing 3,465 shares valued at approximately $2.05 million.
• Tyler Technologies reported a quarterly earnings per share of $2.91, surpassing analysts' expectations, with a revenue of $584.01 million.
• A significant number of hedge funds and institutions have increased their holdings in Tyler Technologies, with 93.30% of the stock being owned by institutional investors.

Twin Tree Management LP purchased a new position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,465 shares of the technology company's stock, valued at approximately $2,054,000.

A number of other hedge funds have also recently made changes to their positions in TYL. Exchange Traded Concepts LLC boosted its position in shares of 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 in the last quarter. QRG Capital Management Inc. boosted its position in shares of Tyler Technologies by 14.5% in the 1st quarter. QRG Capital Management Inc. now owns 1,375 shares of the technology company's stock worth $799,000 after purchasing an additional 174 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Tyler Technologies by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 5,012 shares of the technology company's stock worth $2,913,000 after purchasing an additional 130 shares in the last quarter. Vanderbilt University bought a new stake in shares of Tyler Technologies in the 1st quarter worth approximately $3,483,000. Finally, Norway Savings Bank boosted its position in shares of Tyler Technologies by 3.4% in the 1st quarter. Norway Savings Bank now owns 4,232 shares of the technology company's stock worth $2,460,000 after purchasing an additional 138 shares in the last quarter. 93.30% of the stock is owned by institutional investors.

Tyler Technologies Trading Down 1.1%

Shares of TYL opened at $496.38 on Friday. The firm has a market cap of $21.47 billion, a PE ratio of 70.91, a P/E/G ratio of 3.85 and a beta of 0.89. The firm has a fifty day simple moving average of $540.57 and a two-hundred day simple moving average of $558.85. Tyler Technologies, Inc. has a 1-year low of $483.56 and a 1-year high of $661.31.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced 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. The business had revenue of $584.01 million during the quarter, compared to analyst estimates of $587.59 million. Tyler Technologies had a net margin of 13.66% and a return on equity of 10.34%. The company's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.40 EPS. Tyler Technologies has set its FY 2025 guidance at 11.200-11.500 EPS. As a group, research analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on TYL shares. UBS Group reissued an "overweight" rating on shares of Tyler Technologies in a research report on Wednesday, October 8th. Weiss Ratings restated a "hold (c)" rating on shares of Tyler Technologies in a report on Tuesday. DA Davidson decreased their price objective on shares of Tyler Technologies from $585.00 to $560.00 and set a "neutral" rating for the company in a report on Friday, October 10th. Finally, Barclays boosted their price objective on shares of Tyler Technologies from $695.00 to $715.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Nine analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $686.00.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 5,250 shares of the business's stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 81,775 shares in the company, valued at approximately $48,156,479.75. The trade was a 6.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John S. Marr, Jr. sold 4,000 shares of the business's stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $560.65, for a total transaction of $2,242,600.00. Following the sale, the insider owned 6,983 shares of the company's stock, valued at approximately $3,915,018.95. This represents a 36.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,500 shares of company stock worth $11,148,043. Insiders own 1.10% of the company's stock.

Tyler Technologies Company 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.

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