Thoroughbred Financial Services LLC Decreases Stock Position in Tyler Technologies, Inc. $TYL

Thoroughbred Financial Services LLC lowered its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL) by 84.3% in the second quarter, HoldingsChannel.com reports. The fund owned 344 shares of the technology company’s stock after selling 1,844 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Tyler Technologies were worth $203,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of TYL. Vanguard Group Inc. boosted its stake in shares of Tyler Technologies by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 5,459,163 shares of the technology company’s stock worth $3,173,903,000 after purchasing an additional 148,762 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Tyler Technologies by 2.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,206,406 shares of the technology company’s stock worth $713,144,000 after purchasing an additional 30,686 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Tyler Technologies by 4.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,038,481 shares of the technology company’s stock worth $615,653,000 after buying an additional 39,554 shares during the period. JPMorgan Chase & Co. boosted its position in Tyler Technologies by 3.1% during the 1st quarter. JPMorgan Chase & Co. now owns 480,085 shares of the technology company’s stock worth $279,117,000 after purchasing an additional 14,219 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of Tyler Technologies by 17.2% in the first quarter. Goldman Sachs Group Inc. now owns 428,304 shares of the technology company’s stock valued at $249,012,000 after buying an additional 62,889 shares in the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

Insider Transactions at Tyler Technologies

In other news, Director Glenn A. Carter sold 750 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was 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 of the company’s stock, valued at approximately $1,707,487.60. This represents a 19.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John S. Marr, Jr. sold 4,000 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $560.65, for a total value of $2,242,600.00. Following the sale, the insider owned 6,983 shares in the company, valued at $3,915,018.95. The trade was a 36.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 9,000 shares of company stock valued at $5,007,328. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TYL. DA Davidson lowered their price target on shares of Tyler Technologies from $560.00 to $540.00 and set a “neutral” rating for the company in a report on Friday, October 31st. Oppenheimer reaffirmed an “outperform” rating and issued a $600.00 target price on shares of Tyler Technologies in a research report on Thursday, October 30th. Evercore ISI reiterated a “positive” rating on shares of Tyler Technologies in a research note on Friday, October 31st. Barclays lifted their price target 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, Weiss Ratings reiterated a “hold (c)” rating on shares of Tyler Technologies in a research note on Tuesday, October 14th. Nine equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $660.09.

Tyler Technologies Price Performance

Shares of TYL opened at $466.86 on Wednesday. The business’s fifty day moving average price is $503.15 and its 200 day moving average price is $547.49. Tyler Technologies, Inc. has a 12-month low of $450.00 and a 12-month high of $661.31. The stock has a market capitalization of $20.09 billion, a PE ratio of 64.93, a price-to-earnings-growth ratio of 3.67 and a beta of 0.93.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, October 29th. The technology company reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.88 by $0.09. The firm had revenue of $595.88 million during the quarter, compared to analyst estimates of $594.34 million. Tyler Technologies had a net margin of 13.72% and a return on equity of 10.64%. 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 firm earned $2.52 earnings per share. Tyler Technologies has set its FY 2025 guidance at 11.300-11.500 EPS. As a group, research analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share 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.