OFI Invest Asset Management Buys 1,777 Shares of Tyler Technologies, Inc. $TYL

OFI Invest Asset Management lifted its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 5.6% in the 2nd quarter, Holdings Channel reports. The fund owned 33,553 shares of the technology company’s stock after acquiring an additional 1,777 shares during the quarter. OFI Invest Asset Management’s holdings in Tyler Technologies were worth $19,892,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mowery & Schoenfeld Wealth Management LLC increased its stake in 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 buying an additional 41 shares during the last quarter. Cornerstone Planning Group LLC increased its stake 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 buying an additional 42 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in Tyler Technologies in the 1st quarter valued at $38,000. Advisors Asset Management Inc. acquired a new stake in Tyler Technologies in the 1st quarter valued at $38,000. Finally, Geneos Wealth Management Inc. increased its stake in Tyler Technologies by 137.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 69 shares of the technology company’s stock valued at $40,000 after buying an additional 40 shares during the last quarter. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TYL. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tyler Technologies in a research note on Saturday, September 27th. DA Davidson lowered their price objective on shares of Tyler Technologies from $585.00 to $560.00 and set a “neutral” rating on the stock in a research note on Friday. Barclays boosted their price objective on shares of Tyler Technologies from $695.00 to $715.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Finally, UBS Group restated an “overweight” rating on shares of Tyler Technologies in a research note on Wednesday. Nine investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Tyler Technologies currently has an average rating of “Moderate Buy” and an average target price of $686.00.

Insider Buying and Selling

In related news, Director Glenn A. Carter sold 750 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $538.30, for a total transaction of $403,725.00. Following the completion of the transaction, the director directly owned 3,172 shares in the company, valued at $1,707,487.60. This represents a 19.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 5,250 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer owned 81,775 shares of the company’s stock, valued at approximately $48,156,479.75. This represents a 6.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,500 shares of company stock worth $11,148,043 in the last three months. 1.10% of the stock is owned by corporate insiders.

Tyler Technologies Trading Down 0.7%

Shares of NYSE:TYL opened at $503.11 on Friday. The firm has a 50 day moving average of $548.79 and a 200-day moving average of $560.83. The stock has a market capitalization of $21.77 billion, a PE ratio of 71.87, a PEG ratio of 3.87 and a beta of 0.89. Tyler Technologies, Inc. has a 12 month low of $483.56 and a 12 month high of $661.31.

Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, July 30th. The technology company reported $2.91 EPS for the quarter, beating the consensus estimate of $2.78 by $0.13. The company had revenue of $584.01 million during 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% compared to the same quarter last year. During the same period 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, research analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

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.