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

Key Points

• Conestoga Capital Advisors LLC reduced its stake in Tyler Technologies by 1.4%, holding 94,426 shares worth approximately $55.98 million at the end of the most recent reporting period.
• Tyler Technologies reported earnings of $2.91 per share for the last quarter, exceeding analyst expectations, and had revenue of $584.01 million, which was slightly below forecasts.
• Several analysts have adjusted their price targets for Tyler Technologies, with DA Davidson lowering it to $560, while Barclays raised theirs to $715, indicating varying opinions on the stock's investment potential.

Conestoga Capital Advisors LLC trimmed its holdings in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 1.4% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 94,426 shares of the technology company's stock after selling 1,355 shares during the period. Conestoga Capital Advisors LLC owned 0.22% of Tyler Technologies worth $55,980,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in TYL. Mowery & Schoenfeld Wealth Management LLC grew its holdings in shares of Tyler Technologies by 820.0% during 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. Generali Asset Management SPA SGR acquired a new stake in Tyler Technologies during the 2nd quarter worth approximately $30,000. Cornerstone Planning Group LLC lifted its position in Tyler Technologies by 221.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 61 shares of the technology company's stock worth $35,000 after acquiring an additional 42 shares during the period. Zions Bancorporation National Association UT purchased a new position in shares of Tyler Technologies in the 1st quarter valued at approximately $38,000. Finally, Advisors Asset Management Inc. acquired a new position in shares of Tyler Technologies in the first quarter valued at approximately $38,000. Institutional investors and hedge funds own 93.30% of the company's stock.

Tyler Technologies Stock Performance

NYSE:TYL opened at $505.16 on Monday. Tyler Technologies, Inc. has a 1 year low of $483.56 and a 1 year high of $661.31. The stock has a fifty day moving average price of $538.80 and a two-hundred day moving average price of $558.06. The stock has a market capitalization of $21.85 billion, a price-to-earnings ratio of 72.17, a PEG ratio of 3.88 and a beta of 0.89.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TYL shares. DA Davidson decreased their price target on Tyler Technologies from $585.00 to $560.00 and set a "neutral" rating for the company in a report on Friday, October 10th. Weiss Ratings restated a "hold (c)" rating on shares of Tyler Technologies in a research report on Tuesday, October 14th. UBS Group reaffirmed an "overweight" rating on shares of Tyler Technologies in a report on Wednesday, October 8th. Finally, Barclays lifted their target price on shares of Tyler Technologies from $695.00 to $715.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Nine investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently 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 stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $588.89, for a total value of $3,091,672.50. Following the completion of the transaction, the chief executive officer directly owned 81,775 shares of the company's stock, valued at approximately $48,156,479.75. This trade represents a 6.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through 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 stock was sold at an average price of $555.53, for a total value of $2,361,002.50. Following the sale, the insider directly owned 6,983 shares in the company, 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. Over the last three months, insiders sold 19,500 shares of company stock valued at $11,148,043. Corporate insiders own 1.10% of the company's stock.

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.

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