Truvestments Capital LLC Increases Stock Position in Tyler Technologies, Inc. $TYL

Key Points

• Truvestments Capital LLC significantly increased its stake in Tyler Technologies by 2,835.3% during the first quarter, owning 499 shares valued at $290,000 by the end of the quarter.
• Various institutional investors also raised their holdings, with the total institutional ownership at 93.30% of the company's stock.
• Tyler Technologies reported $2.91 EPS for its last quarter, beating estimates, and had a revenue of $584.01 million, a 10.2% year-over-year increase.

Truvestments Capital LLC boosted its stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 2,835.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 499 shares of the technology company's stock after buying an additional 482 shares during the period. Truvestments Capital LLC's holdings in Tyler Technologies were worth $290,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC increased its stake in Tyler Technologies by 2.3% during the fourth quarter. Integrated Wealth Concepts LLC now owns 786 shares of the technology company's stock worth $453,000 after purchasing an additional 18 shares during the period. AdvisorNet Financial Inc increased its stake in Tyler Technologies by 7.0% during the first quarter. AdvisorNet Financial Inc now owns 291 shares of the technology company's stock worth $169,000 after purchasing an additional 19 shares during the period. Leelyn Smith LLC increased its stake in Tyler Technologies by 0.9% during the first quarter. Leelyn Smith LLC now owns 2,122 shares of the technology company's stock worth $1,234,000 after purchasing an additional 19 shares during the period. Benjamin Edwards Inc. increased its stake in Tyler Technologies by 1.5% during the fourth quarter. Benjamin Edwards Inc. now owns 1,526 shares of the technology company's stock worth $880,000 after purchasing an additional 22 shares during the period. Finally, MV Capital Management Inc. increased its stake in Tyler Technologies by 42.9% during the first quarter. MV Capital Management Inc. now owns 80 shares of the technology company's stock worth $47,000 after purchasing an additional 24 shares during the period. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Tyler Technologies Price Performance

Shares of Tyler Technologies stock traded up $6.05 on Friday, reaching $562.33. 278,126 shares of the company were exchanged, compared to its average volume of 329,290. Tyler Technologies, Inc. has a 1-year low of $513.52 and a 1-year high of $661.31. The company has a market cap of $24.33 billion, a P/E ratio of 80.33, a price-to-earnings-growth ratio of 4.32 and a beta of 0.85. The stock's 50 day moving average price is $573.37 and its 200-day moving average price is $575.08.

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

Analysts Set New Price Targets

A number of brokerages have issued reports on TYL. Wall Street Zen lowered shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Needham & Company LLC reiterated a "buy" rating and set a $750.00 price target on shares of Tyler Technologies in a research note on Tuesday, May 13th. DA Davidson set a $585.00 price target on shares of Tyler Technologies and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Barclays boosted their price target 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, Cantor Fitzgerald started coverage on Tyler Technologies in a research report on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 price objective for the company. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Tyler Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $688.27.

Insider Activity at Tyler Technologies

In related news, CFO Brian K. Miller sold 1,200 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $585.92, for a total value of $703,104.00. Following the completion of the transaction, the chief financial officer directly owned 16,016 shares of the company's stock, valued at $9,384,094.72. This represents a 6.97% 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, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $573.60, for a total value of $215,100.00. Following the completion of the transaction, the insider directly owned 247 shares of the company's stock, valued at $141,679.20. This trade represents a 60.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,769 shares of company stock valued at $12,134,207 over the last three months. 1.10% of the stock is owned by corporate insiders.

Tyler Technologies 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.