Allstate Corp Takes $929,000 Position in Tyler Technologies, Inc. $TYL

Allstate Corp purchased a new position in Tyler Technologies, Inc. (NYSE:TYL) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,775 shares of the technology company’s stock, valued at approximately $929,000.

Several other institutional investors and hedge funds have also bought and sold shares of TYL. Advisors Asset Management Inc. purchased a new position in shares of Tyler Technologies in the 1st quarter valued at approximately $38,000. NewEdge Advisors LLC lifted its position in Tyler Technologies by 17.8% during the first quarter. NewEdge Advisors LLC now owns 251 shares of the technology company’s stock valued at $146,000 after buying an additional 38 shares during the period. Woodline Partners LP bought a new stake in shares of Tyler Technologies during the 1st quarter valued at $2,102,000. Geneos Wealth Management Inc. grew its position in shares of Tyler Technologies by 137.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 69 shares of the technology company’s stock worth $40,000 after buying an additional 40 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Tyler Technologies by 1.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,458 shares of the technology company’s stock worth $2,040,000 after acquiring an additional 34 shares in the last quarter. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Glenn A. Carter sold 500 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $458.73, for a total transaction of $229,365.00. Following the transaction, the director directly owned 3,172 shares of the company’s stock, valued at $1,455,091.56. This represents a 13.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Brian K. Miller sold 1,000 shares of Tyler Technologies stock in a transaction on Monday, December 15th. The stock was sold at an average price of $448.51, for a total value of $448,510.00. Following the completion of the sale, the chief financial officer directly owned 17,148 shares of the company’s stock, valued at $7,691,049.48. The trade was a 5.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 3,500 shares of company stock valued at $1,605,605. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

TYL has been the topic of a number of recent research reports. DA Davidson cut their price objective on shares of Tyler Technologies from $540.00 to $510.00 and set a “neutral” rating on the stock in a report on Tuesday, December 9th. Needham & Company LLC reissued a “buy” rating on shares of Tyler Technologies in a research report on Wednesday, January 7th. UBS Group reaffirmed an “overweight” rating on shares of Tyler Technologies in a research report on Wednesday, October 8th. Piper Sandler dropped their target price on Tyler Technologies from $708.00 to $671.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. Finally, Oppenheimer restated an “outperform” rating and set a $600.00 price target on shares of Tyler Technologies in a report on Thursday, October 30th. Twelve investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $617.57.

Tyler Technologies Price Performance

Tyler Technologies stock opened at $434.20 on Thursday. Tyler Technologies, Inc. has a one year low of $427.65 and a one year high of $661.31. The business’s fifty day moving average is $455.89 and its 200 day moving average is $509.11. The stock has a market capitalization of $18.68 billion, a PE ratio of 60.39, a price-to-earnings-growth ratio of 2.89 and a beta of 0.91.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, October 29th. The technology company reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.88 by $0.09. Tyler Technologies had a net margin of 13.72% and a return on equity of 10.57%. The firm had revenue of $595.88 million for the quarter, compared to the consensus estimate of $594.34 million. During the same quarter last year, the firm posted $2.52 EPS. The business’s quarterly 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. As a group, sell-side analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

About Tyler Technologies

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler’s product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.