Eventide Asset Management LLC Raises Stock Holdings in Tyler Technologies, Inc. $TYL

Key Points

• Eventide Asset Management LLC increased its position in Tyler Technologies by 27.1%, acquiring a total of 32,422 shares worth approximately $18.8 million.
• Insider transactions include John S. Marr, Jr. selling 4,250 shares and CEO H Lynn Moore, Jr. selling 5,250 shares, indicating a combined decrease in their stakes by 37.83% and 6.03%, respectively.
• Analysts have mixed ratings for Tyler Technologies, with an average price target of $688.27, reflecting a consensus rating of "Moderate Buy" based on recent evaluations.

Eventide Asset Management LLC increased its stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 27.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,422 shares of the technology company's stock after acquiring an additional 6,914 shares during the quarter. Eventide Asset Management LLC owned 0.08% of Tyler Technologies worth $18,847,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Mercer Global Advisors Inc. ADV grew its position in Tyler Technologies by 24.6% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 2,173 shares of the technology company's stock valued at $1,253,000 after purchasing an additional 429 shares during the period. Benjamin Edwards Inc. grew its position in Tyler Technologies by 1.5% in the 4th quarter. Benjamin Edwards Inc. now owns 1,526 shares of the technology company's stock valued at $880,000 after purchasing an additional 22 shares during the period. Balyasny Asset Management L.P. acquired a new stake in Tyler Technologies in the 4th quarter valued at $10,119,000. Bridgefront Capital LLC acquired a new stake in Tyler Technologies in the 4th quarter valued at $401,000. Finally, Bridgeway Capital Management LLC acquired a new stake in Tyler Technologies in the 4th quarter valued at $2,469,000. Institutional investors own 93.30% of the company's stock.

Tyler Technologies Stock Performance

TYL stock traded up $4.85 during mid-day trading on Friday, hitting $559.08. The company had a trading volume of 174,404 shares, compared to its average volume of 273,139. The firm has a market cap 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. Tyler Technologies, Inc. has a 12 month low of $513.52 and a 12 month high of $661.31. The stock's fifty day moving average price is $570.78 and its two-hundred day moving average price is $572.05.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced 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. The company's revenue for the quarter was up 10.2% on a year-over-year basis. Tyler Technologies has set its FY 2025 guidance at 11.200-11.500 EPS. Equities analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Insider Activity

In other news, CFO Brian K. Miller sold 1,200 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $580.72, for a total value of $696,864.00. Following the sale, the chief financial officer owned 13,772 shares of the company's stock, valued at $7,997,675.84. The trade was a 8.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John S. Marr, Jr. sold 4,250 shares of the business's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $555.53, for a total transaction of $2,361,002.50. Following the completion of the sale, the insider directly owned 6,983 shares in the company, valued at approximately $3,879,265.99. This trade represents a 37.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,444 shares of company stock valued at $13,586,917 over the last quarter. Company insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of Tyler Technologies in a research report on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 price target for the company. Needham & Company LLC reissued a "buy" rating and issued a $750.00 price target on shares of Tyler Technologies in a research report on Tuesday, May 13th. DA Davidson set a $585.00 price objective on Tyler Technologies and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Barclays upped their target price on shares of Tyler Technologies from $695.00 to $715.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Finally, Wall Street Zen lowered shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $688.27.

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.