Fifth Third Bancorp Cuts Position in Tyler Technologies, Inc. $TYL

Fifth Third Bancorp decreased its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 10.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,317 shares of the technology company’s stock after selling 151 shares during the quarter. Fifth Third Bancorp’s holdings in Tyler Technologies were worth $781,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. HighPoint Advisor Group LLC raised its position in Tyler Technologies by 10.9% in the first quarter. HighPoint Advisor Group LLC now owns 711 shares of the technology company’s stock worth $380,000 after acquiring an additional 70 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in Tyler Technologies by 12.6% in the first quarter. Exchange Traded Concepts LLC now owns 501 shares of the technology company’s stock valued at $291,000 after purchasing an additional 56 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Tyler Technologies by 61.2% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,747 shares of the technology company’s stock valued at $5,778,000 after purchasing an additional 3,699 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Tyler Technologies by 0.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,133 shares of the technology company’s stock valued at $2,984,000 after purchasing an additional 31 shares during the last quarter. Finally, Argent Capital Management LLC grew its holdings in Tyler Technologies by 37.4% in the second quarter. Argent Capital Management LLC now owns 102,830 shares of the technology company’s stock valued at $60,962,000 after purchasing an additional 27,996 shares during the last quarter. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Stock Up 1.6%

TYL opened at $530.77 on Monday. The firm has a market cap of $22.96 billion, a P/E ratio of 75.82, a PEG ratio of 4.06 and a beta of 0.89. Tyler Technologies, Inc. has a 52 week low of $513.52 and a 52 week high of $661.31. The business’s fifty day simple moving average is $560.11 and its 200 day simple moving average is $565.42.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, July 30th. The technology company reported $2.91 EPS for the quarter, beating analysts’ consensus estimates of $2.78 by $0.13. The business 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 business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.40 earnings per share. Tyler Technologies has set its FY 2025 guidance at 11.200-11.500 EPS. As a group, equities analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, Director Glenn A. Carter sold 750 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $538.30, for a total value of $403,725.00. Following the sale, the director directly owned 3,172 shares of the company’s stock, valued at approximately $1,707,487.60. This trade represents a 19.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John S. Marr, Jr. sold 4,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider directly owned 6,983 shares in the company, valued at approximately $3,915,018.95. The trade was a 36.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,500 shares of company stock valued at $11,148,043 over the last quarter. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

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