Tyler Technologies, Inc. $TYL Shares Sold by Riverbridge Partners LLC

Key Points

• Riverbridge Partners LLC has reduced its stake in Tyler Technologies by 6.6%, now holding approximately 281,881 shares worth around $167.1 million, making it the firm's 6th largest investment.
• Tyler Technologies reported $2.91 earnings per share, exceeding analyst estimates, with a revenue of $584.01 million for the last quarter, marking a 10.2% increase year-over-year.
• Institutional investors collectively own a significant 93.30% of Tyler Technologies' shares, indicating strong support and interest from major financial stakeholders.

Riverbridge Partners LLC lessened its stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 6.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 281,881 shares of the technology company's stock after selling 19,790 shares during the quarter. Tyler Technologies comprises approximately 2.7% of Riverbridge Partners LLC's investment portfolio, making the stock its 6th biggest holding. Riverbridge Partners LLC owned approximately 0.65% of Tyler Technologies worth $167,110,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of TYL. Retirement Wealth Solutions LLC acquired a new stake in shares of Tyler Technologies during the 1st quarter worth approximately $26,000. Mowery & Schoenfeld Wealth Management LLC grew its position in shares of Tyler Technologies by 820.0% during the 1st 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 period. Cornerstone Planning Group LLC grew its position in shares of 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 buying an additional 42 shares during the period. Zions Bancorporation National Association UT acquired a new stake in shares of Tyler Technologies during the 1st quarter worth approximately $38,000. Finally, Advisors Asset Management Inc. acquired a new stake in shares of Tyler Technologies during the 1st quarter worth approximately $38,000. Institutional investors and hedge funds own 93.30% of the company's stock.

Tyler Technologies Stock Performance

Shares of TYL opened at $523.30 on Thursday. Tyler Technologies, Inc. has a twelve month low of $513.52 and a twelve month high of $661.31. The firm's 50 day moving average price is $561.59 and its two-hundred day moving average price is $565.93. The firm has a market cap of $22.64 billion, a P/E ratio of 74.76, a PEG ratio of 4.05 and a beta of 0.89.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.91 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $587.59 million. During the same quarter in the previous year, the firm posted $2.40 earnings per share. The business's revenue 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, sell-side analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Cantor Fitzgerald initiated coverage on shares of Tyler Technologies in a research report on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 price target for the company. Barclays boosted their price objective 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. Finally, DA Davidson set a $585.00 price objective on shares of Tyler Technologies and gave the company a "neutral" rating in a report on Tuesday, August 5th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $688.27.

Insider Buying and Selling at Tyler Technologies

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 value of $3,091,672.50. Following the transaction, the chief executive officer owned 81,775 shares of the company's stock, valued at approximately $48,156,479.75. The trade was a 6.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John S. Marr, Jr. sold 4,250 shares of Tyler Technologies stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 6,983 shares in the company, valued at approximately $3,879,265.99. The trade was a 37.83% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,500 shares of company stock valued at $11,148,043. 1.10% of the stock is currently owned by corporate 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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