Tyler Technologies, Inc. $TYL Shares Sold by Chicago Capital LLC

Key Points

• Chicago Capital LLC significantly reduced its stake in Tyler Technologies by 88.3% during the second quarter, selling 31,325 shares and leaving it with only 4,156 shares valued at approximately $2.46 million.
• Several other institutional investors increased their holdings, with One Wealth Advisors and HB Wealth Management raising their stakes by 8.5% and 19.7%, respectively, indicating ongoing interest in Tyler Technologies despite large sell-offs.
• Tyler Technologies reported earnings of $2.91 per share for the last quarter, surpassing estimates and showing a 10.2% year-over-year revenue increase, although revenue fell slightly short of analyst expectations.

Chicago Capital LLC lowered its stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 88.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,156 shares of the technology company's stock after selling 31,325 shares during the quarter. Chicago Capital LLC's holdings in Tyler Technologies were worth $2,464,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. One Wealth Advisors LLC grew its stake in shares of Tyler Technologies by 8.5% in the second quarter. One Wealth Advisors LLC now owns 432 shares of the technology company's stock valued at $256,000 after buying an additional 34 shares in the last quarter. HB Wealth Management LLC grew its stake in shares of Tyler Technologies by 19.7% in the second quarter. HB Wealth Management LLC now owns 5,236 shares of the technology company's stock valued at $3,104,000 after buying an additional 862 shares in the last quarter. V Square Quantitative Management LLC grew its stake in Tyler Technologies by 6.6% during the 2nd quarter. V Square Quantitative Management LLC now owns 650 shares of the technology company's stock valued at $385,000 after purchasing an additional 40 shares in the last quarter. Patton Fund Management Inc. acquired a new stake in Tyler Technologies during the 2nd quarter valued at approximately $285,000. Finally, Patron Partners LLC grew its stake in Tyler Technologies by 9.7% during the 2nd quarter. Patron Partners LLC now owns 507 shares of the technology company's stock valued at $301,000 after purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 93.30% of the company's stock.

Wall Street Analyst Weigh In

TYL has been the subject of a number of recent analyst reports. Cantor Fitzgerald initiated coverage on Tyler Technologies in a research note on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 price objective for the company. 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. Finally, Barclays raised their price objective on Tyler Technologies from $695.00 to $715.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $688.27.

Tyler Technologies Price Performance

Shares of Tyler Technologies stock opened at $529.31 on Tuesday. Tyler Technologies, Inc. has a 1-year low of $513.52 and a 1-year high of $661.31. The company has a market capitalization of $22.90 billion, a P/E ratio of 75.62, a PEG ratio of 4.06 and a beta of 0.89. The business's fifty day moving average price is $559.49 and its two-hundred day moving average price is $565.18.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.13. Tyler Technologies had a return on equity of 10.34% and a net margin of 13.66%.The company had revenue of $584.01 million for the quarter, compared to analysts' expectations of $587.59 million. During the same period last year, the firm earned $2.40 EPS. The firm'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. On average, research analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider John S. Marr, Jr. sold 4,250 shares of Tyler Technologies stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $555.53, for a total value of $2,361,002.50. Following the transaction, the insider directly owned 6,983 shares in the company, valued at $3,879,265.99. The trade was a 37.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Glenn A. Carter sold 750 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $538.30, for a total value of $403,725.00. Following the completion of the sale, the director directly owned 3,172 shares of the company's stock, valued at approximately $1,707,487.60. This represents a 19.12% 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 worth $11,148,043 in the last three months. 1.10% of the stock is currently owned by insiders.

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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