Tyler Technologies, Inc. $TYL Position Lessened by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC reduced its stake in Tyler Technologies by 5.6%, bringing its ownership to 0.18% of the company, valued at approximately $44.2 million.
• Wall Street analysts have varied ratings on Tyler Technologies, with a consensus rating of "Moderate Buy" and a price target of $688.27.
• Tyler Technologies reported an earnings per share (EPS) of $2.91 for the last quarter, beating analysts' expectations of $2.78, with revenue increasing by 10.2% year-over-year.

Hsbc Holdings PLC reduced its position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 5.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 76,339 shares of the technology company's stock after selling 4,561 shares during the quarter. Hsbc Holdings PLC owned about 0.18% of Tyler Technologies worth $44,204,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Tyler Technologies by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 5,459,163 shares of the technology company's stock valued at $3,173,903,000 after purchasing an additional 148,762 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Tyler Technologies by 6.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 998,927 shares of the technology company's stock valued at $580,766,000 after purchasing an additional 59,554 shares in the last quarter. GAMMA Investing LLC boosted its stake in Tyler Technologies by 57,694.7% during the 1st quarter. GAMMA Investing LLC now owns 878,480 shares of the technology company's stock valued at $510,739,000 after purchasing an additional 876,960 shares in the last quarter. Northern Trust Corp boosted its stake in Tyler Technologies by 13.9% during the 4th quarter. Northern Trust Corp now owns 497,367 shares of the technology company's stock valued at $286,802,000 after purchasing an additional 60,654 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Tyler Technologies by 3.1% during the 1st quarter. JPMorgan Chase & Co. now owns 480,085 shares of the technology company's stock valued at $279,117,000 after purchasing an additional 14,219 shares in the last quarter. 93.30% of the stock is owned by institutional investors.

Tyler Technologies Stock Down 1.1%

Shares of TYL traded down $6.1370 during mid-day trading on Friday, reaching $560.5330. The company's stock had a trading volume of 337,302 shares, compared to its average volume of 394,834. The business has a fifty day moving average of $575.29 and a 200 day moving average of $576.70. The company has a market cap of $24.25 billion, a price-to-earnings ratio of 80.08, a price-to-earnings-growth ratio of 4.30 and a beta of 0.85. Tyler Technologies, Inc. has a 1 year low of $513.52 and a 1 year high of $661.31.

Tyler Technologies (NYSE:TYL - Get Free Report) last released its 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 company had revenue of $584.01 million during the quarter, compared to analyst estimates of $587.59 million. Tyler Technologies had a return on equity of 10.34% and a net margin of 13.66%.The company's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.40 earnings per share. 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 earnings per share for the current year.

Insider Activity

In other news, CEO H Lynn Moore, Jr. sold 5,250 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $588.89, for a total value of $3,091,672.50. Following the completion of the sale, the chief executive officer owned 81,775 shares in the company, valued at $48,156,479.75. This represents a 6.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of the stock in a transaction 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 sale, the insider owned 247 shares of the company's stock, valued at $141,679.20. The trade was a 60.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,769 shares of company stock worth $12,134,207 over the last quarter. Corporate insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

TYL has been the subject of a number of research reports. Wall Street Zen lowered Tyler Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Cantor Fitzgerald assumed 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. Barclays raised their price objective on Tyler Technologies from $695.00 to $715.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Needham & Company LLC reissued a "buy" rating and set a $750.00 price objective on shares of Tyler Technologies in a research note on Tuesday, May 13th. Finally, DA Davidson set a $585.00 price objective on Tyler Technologies and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.