Wellington Management Group LLP Trims Stake in Tyler Technologies, Inc. $TYL

Key Points

• Wellington Management Group LLP reduced its stake in Tyler Technologies by 0.7%, owning 191,805 shares worth approximately $111.5 million at the end of the first quarter.
• Tyler Technologies reported $2.91 earnings per share for the quarter, surpassing expectations, despite lower revenue compared to analyst estimates.
• Insiders, including CFO Brian K. Miller, have recently sold significant amounts of stock, indicating a 60.29% decrease in ownership for some individuals.

Wellington Management Group LLP cut its position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 0.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 191,805 shares of the technology company's stock after selling 1,441 shares during the quarter. Wellington Management Group LLP owned approximately 0.44% of Tyler Technologies worth $111,514,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TYL. Retirement Wealth Solutions LLC purchased a new stake in Tyler Technologies in the first quarter valued at approximately $26,000. Mowery & Schoenfeld Wealth Management LLC increased its holdings in shares of Tyler Technologies by 820.0% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company's stock valued at $27,000 after acquiring an additional 41 shares during the period. Cornerstone Planning Group LLC raised its position in Tyler Technologies by 221.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 61 shares of the technology company's stock valued at $35,000 after purchasing an additional 42 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in Tyler Technologies in the 1st quarter valued at $38,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in Tyler Technologies during the 4th quarter worth $40,000. Hedge funds and other institutional investors own 93.30% of the company's stock.

Tyler Technologies Stock Down 0.4%

NYSE TYL opened at $565.7770 on Friday. The stock has a market capitalization of $24.48 billion, a P/E ratio of 80.83, a P/E/G ratio of 4.36 and a beta of 0.85. Tyler Technologies, Inc. has a 52-week low of $513.52 and a 52-week high of $661.31. The firm has a 50-day moving average price of $575.69 and a 200 day moving average price of $577.57.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $584.01 million for 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 firm's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.40 EPS. Tyler Technologies has set its FY 2025 guidance at 11.200-11.500 EPS. On average, equities research analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tyler Technologies news, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was 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 approximately $141,679.20. This trade represents a 60.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian K. Miller sold 1,200 shares of the business's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $585.92, for a total transaction of $703,104.00. Following the sale, the chief financial officer owned 16,016 shares in the company, valued at $9,384,094.72. The trade was a 6.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,769 shares of company stock worth $12,134,207. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Needham & Company LLC restated a "buy" rating and issued a $750.00 price objective on shares of Tyler Technologies in a research note on Tuesday, May 13th. Cantor Fitzgerald initiated coverage on Tyler Technologies in a report on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 price target on the stock. Piper Sandler dropped their price target on Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Robert W. Baird reduced their price objective on Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Finally, DA Davidson set a $585.00 price objective on Tyler Technologies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $688.27.

Tyler Technologies 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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