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

Key Points

• Procyon Advisors LLC has reduced its holdings in Tyler Technologies by 81.2%, selling 1,801 shares to now own only 417 shares valued at $247,000.
• Tyler Technologies reported $2.91 EPS for the recent quarter, exceeding expectations, while total revenue reached $584.01 million, up 10.2% year-over-year.
• Analysts generally rate Tyler Technologies positively, with eight analyst Buy ratings and a consensus price target of $688.27.

Procyon Advisors LLC lessened its holdings in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 81.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 417 shares of the technology company's stock after selling 1,801 shares during the period. Procyon Advisors LLC's holdings in Tyler Technologies were worth $247,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TYL. Retirement Wealth Solutions LLC purchased a new position in Tyler Technologies during the first quarter valued at approximately $26,000. Mowery & Schoenfeld Wealth Management LLC grew its holdings in Tyler Technologies by 820.0% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company's stock valued at $27,000 after buying an additional 41 shares in the last quarter. Cornerstone Planning Group LLC grew its holdings in Tyler Technologies by 221.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 61 shares of the technology company's stock valued at $35,000 after buying an additional 42 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in Tyler Technologies during the 1st quarter valued at approximately $38,000. Finally, Advisors Asset Management Inc. purchased a new stake in Tyler Technologies during the 1st quarter valued at approximately $38,000. Institutional investors own 93.30% of the company's stock.

Insiders Place Their Bets

In related news, CEO H Lynn Moore, Jr. sold 5,250 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $588.89, for a total transaction of $3,091,672.50. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Glenn A. Carter sold 750 shares of the firm's 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 sale, the director directly owned 3,172 shares of the company's stock, valued at $1,707,487.60. The trade was a 19.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,500 shares of company stock valued at $11,148,043 in the last three months. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of Tyler Technologies in a report on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 target price for the company. Barclays raised their price target on Tyler Technologies from $695.00 to $715.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, DA Davidson set a $585.00 target price on Tyler Technologies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $688.27.

Tyler Technologies Price Performance

NYSE TYL traded down $5.11 during mid-day trading on Tuesday, hitting $531.06. The stock had a trading volume of 24,426 shares, compared to its average volume of 295,559. The firm's 50 day moving average is $562.79 and its 200 day moving average is $566.49. Tyler Technologies, Inc. has a twelve month low of $513.52 and a twelve month high of $661.31. The stock has a market capitalization of $22.97 billion, a price-to-earnings ratio of 75.90, a PEG ratio of 4.10 and a beta of 0.89.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.91 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 firm had revenue of $584.01 million during the quarter, compared to the consensus estimate of $587.59 million. During the same period in the prior year, the company earned $2.40 EPS. The firm's 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. As a group, equities research analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

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.