Tyler Technologies, Inc. $TYL Shares Sold by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC reduced its ownership in Tyler Technologies by 34.4%, selling 20,576 shares during the first quarter, leaving them with a stake worth approximately $22.8 million.
• Several hedge funds have increased their positions in Tyler Technologies, with some firms like Mowery & Schoenfeld Wealth Management LLC growing their stake by as much as 820% in the same quarter.
• Wall Street analysts have mixed views on the stock, with an average rating of "Moderate Buy" and a consensus price target of $688.27, despite one firm lowering its rating from "buy" to "hold."

Acadian Asset Management LLC lessened its stake in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 34.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,265 shares of the technology company's stock after selling 20,576 shares during the quarter. Acadian Asset Management LLC owned about 0.09% of Tyler Technologies worth $22,818,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Retirement Wealth Solutions LLC acquired a new position in shares of Tyler Technologies during the first quarter valued at approximately $26,000. Mowery & Schoenfeld Wealth Management LLC grew its position in Tyler Technologies by 820.0% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company's stock worth $27,000 after buying an additional 41 shares during the last quarter. Cornerstone Planning Group LLC grew its position in Tyler Technologies by 221.1% in the first quarter. Cornerstone Planning Group LLC now owns 61 shares of the technology company's stock worth $35,000 after buying an additional 42 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in Tyler Technologies in the first quarter worth approximately $38,000. Finally, Advisors Asset Management Inc. acquired a new position in Tyler Technologies in the first quarter worth approximately $38,000. Institutional investors and hedge funds own 93.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TYL. Wall Street Zen lowered shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. DA Davidson set a $585.00 price target on shares of Tyler Technologies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Barclays lifted their price target on shares of Tyler Technologies from $695.00 to $715.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, Cantor Fitzgerald began 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 on the stock. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $688.27.

Insiders Place Their Bets

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 5,250 shares of Tyler Technologies stock in a transaction that occurred 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John S. Marr, Jr. sold 4,250 shares of Tyler Technologies stock in a transaction 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 sale, the insider directly owned 6,983 shares of the company's stock, valued at $3,879,265.99. This trade represents a 37.83% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,950 shares of company stock worth $9,198,582. Corporate insiders own 1.10% of the company's stock.

Tyler Technologies Stock Performance

NYSE TYL opened at $546.08 on Thursday. Tyler Technologies, Inc. has a twelve month low of $513.52 and a twelve month high of $661.31. The stock has a market cap of $23.62 billion, a price-to-earnings ratio of 78.01, a PEG ratio of 4.28 and a beta of 0.89. The firm's 50 day moving average price is $568.81 and its two-hundred day moving average price is $571.05.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.91 earnings per share 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 firm had revenue of $584.01 million for the quarter, compared to analysts' expectations of $587.59 million. During the same period in the previous year, the company posted $2.40 EPS. The company's quarterly revenue was up 10.2% compared to the same quarter last year. Tyler Technologies has set its FY 2025 guidance at 11.200-11.500 EPS. On average, research analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal 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.

Want to see what other hedge funds are holding TYL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tyler Technologies, Inc. (NYSE:TYL - Free Report).

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.