Prudential Financial Inc. Grows Position in Tyler Technologies, Inc. $TYL

Prudential Financial Inc. lifted its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 10.7% in the second quarter, Holdings Channel reports. The firm owned 24,675 shares of the technology company’s stock after purchasing an additional 2,383 shares during the period. Prudential Financial Inc.’s holdings in Tyler Technologies were worth $14,628,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TYL. Cynosure Group LLC increased its position in shares of Tyler Technologies by 21.2% in the second quarter. Cynosure Group LLC now owns 704 shares of the technology company’s stock worth $417,000 after acquiring an additional 123 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Tyler Technologies by 1.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 308,783 shares of the technology company’s stock worth $183,059,000 after purchasing an additional 5,707 shares during the period. American Century Companies Inc. increased its holdings in Tyler Technologies by 12.5% in the 2nd quarter. American Century Companies Inc. now owns 621 shares of the technology company’s stock valued at $368,000 after purchasing an additional 69 shares in the last quarter. Mufg Securities Americas Inc. raised its position in Tyler Technologies by 26.1% in the second quarter. Mufg Securities Americas Inc. now owns 956 shares of the technology company’s stock valued at $567,000 after purchasing an additional 198 shares during the period. Finally, Journey Strategic Wealth LLC purchased a new position in Tyler Technologies in the second quarter valued at about $264,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Insider Transactions at Tyler Technologies

In related news, CFO Brian K. Miller sold 1,000 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $469.08, for a total value of $469,080.00. Following the completion of the sale, the chief financial officer directly owned 12,781 shares of the company’s stock, valued at $5,995,311.48. The trade was a 7.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John S. Marr, Jr. sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 9th. The shares were 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 position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 5,750 shares of company stock valued at $3,115,405. Insiders own 1.10% of the company’s stock.

Tyler Technologies Stock Down 1.0%

Shares of TYL opened at $465.81 on Thursday. The firm has a market cap of $20.04 billion, a price-to-earnings ratio of 64.79, a PEG ratio of 3.67 and a beta of 0.93. The business’s 50 day moving average is $493.93 and its two-hundred day moving average is $543.73. Tyler Technologies, Inc. has a 52-week low of $450.00 and a 52-week high of $661.31.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, October 29th. The technology company reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.88 by $0.09. Tyler Technologies had a net margin of 13.72% and a return on equity of 10.64%. The business had revenue of $595.88 million during the quarter, compared to analyst estimates of $594.34 million. During the same quarter in the previous year, the firm earned $2.52 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. Tyler Technologies has set its FY 2025 guidance at 11.300-11.500 EPS. On average, equities analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on TYL. Evercore ISI reaffirmed a “positive” rating on shares of Tyler Technologies in a research report on Friday, October 31st. Oppenheimer restated an “outperform” rating and issued a $600.00 price target on shares of Tyler Technologies in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tyler Technologies in a research report on Tuesday, October 14th. Barclays boosted their target price on shares of 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 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. Nine equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Tyler Technologies presently has an average rating of “Moderate Buy” and an average target price of $660.09.

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.