Parallel Advisors LLC Raises Holdings in Tyler Technologies, Inc. $TYL

Parallel Advisors LLC grew its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 7.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 571 shares of the technology company’s stock after acquiring an additional 38 shares during the quarter. Parallel Advisors LLC’s holdings in Tyler Technologies were worth $338,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Tyler Technologies by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 5,459,163 shares of the technology company’s stock valued at $3,173,903,000 after buying an additional 148,762 shares during the period. Massachusetts Financial Services Co. MA increased its position in Tyler Technologies by 6.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 998,927 shares of the technology company’s stock worth $580,766,000 after buying an additional 59,554 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Tyler Technologies by 57,694.7% in the first quarter. GAMMA Investing LLC now owns 878,480 shares of the technology company’s stock valued at $510,739,000 after purchasing an additional 876,960 shares during the period. JPMorgan Chase & Co. grew its position in shares of Tyler Technologies by 3.1% in the first quarter. JPMorgan Chase & Co. now owns 480,085 shares of the technology company’s stock valued at $279,117,000 after purchasing an additional 14,219 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Tyler Technologies by 17.2% during the first quarter. Goldman Sachs Group Inc. now owns 428,304 shares of the technology company’s stock valued at $249,012,000 after acquiring an additional 62,889 shares during the period. 93.30% of the stock is owned by institutional investors and hedge funds.

Tyler Technologies Price Performance

Tyler Technologies stock opened at $535.02 on Friday. The company has a market capitalization of $23.14 billion, a price-to-earnings ratio of 76.43, a PEG ratio of 4.10 and a beta of 0.89. Tyler Technologies, Inc. has a one year low of $513.52 and a one year high of $661.31. The company’s fifty day moving average price is $563.32 and its two-hundred day moving average price is $567.14.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, July 30th. The technology company reported $2.91 EPS for the quarter, topping the consensus estimate of $2.78 by $0.13. The firm had revenue of $584.01 million for the quarter, compared to the consensus estimate of $587.59 million. Tyler Technologies had a net margin of 13.66% and a return on equity of 10.34%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.40 earnings per share. Tyler Technologies has set its FY 2025 guidance at 11.200-11.500 EPS. As a group, sell-side analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Insider Activity

In other news, CEO H Lynn Moore, Jr. sold 5,250 shares of the firm’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $588.89, for a total value of $3,091,672.50. Following the sale, the chief executive officer directly owned 81,775 shares of the company’s stock, valued at approximately $48,156,479.75. This trade represents a 6.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Glenn A. Carter sold 750 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $538.30, for a total value of $403,725.00. Following the completion of the sale, the director directly owned 3,172 shares in the company, valued at approximately $1,707,487.60. This represents a 19.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,500 shares of company stock valued at $11,148,043. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TYL shares. DA Davidson set a $585.00 price target on Tyler Technologies and gave the stock a “neutral” rating in a research note on Tuesday, August 5th. Cantor Fitzgerald began coverage on Tyler Technologies in a report on Tuesday, June 3rd. They issued a “neutral” rating and a $600.00 price objective for the company. Finally, Barclays upped their target price on Tyler Technologies from $695.00 to $715.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Tyler Technologies currently has an average rating of “Moderate Buy” and an average target price of $688.27.

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.