Sumitomo Mitsui Trust Group Inc. Increases Stake in Tyler Technologies, Inc. $TYL

Sumitomo Mitsui Trust Group Inc. lifted its position in Tyler Technologies, Inc. (NYSE:TYL) by 1.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,929 shares of the technology company’s stock after acquiring an additional 2,077 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.26% of Tyler Technologies worth $58,034,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Generali Asset Management SPA SGR bought a new stake in shares of Tyler Technologies in the 2nd quarter valued at about $30,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Tyler Technologies during the second quarter valued at approximately $32,000. Advisors Asset Management Inc. purchased a new position in Tyler Technologies during the first quarter valued at approximately $38,000. Geneos Wealth Management Inc. raised its stake in Tyler Technologies by 137.9% in the first quarter. Geneos Wealth Management Inc. now owns 69 shares of the technology company’s stock worth $40,000 after buying an additional 40 shares in the last quarter. Finally, Johnson Financial Group Inc. raised its stake in Tyler Technologies by 390.9% in the second quarter. Johnson Financial Group Inc. now owns 108 shares of the technology company’s stock worth $64,000 after buying an additional 86 shares in the last quarter. 93.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TYL shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Tyler Technologies in a report on Friday, January 9th. TD Cowen initiated coverage on Tyler Technologies in a research report on Friday, December 12th. They set a “buy” rating and a $650.00 price objective on the stock. Piper Sandler cut their target price on Tyler Technologies from $708.00 to $671.00 and set an “overweight” rating on the stock in a research note on Tuesday. Oppenheimer reissued an “outperform” rating and set a $600.00 price target on shares of Tyler Technologies in a research report on Thursday, October 30th. Finally, DA Davidson lowered their price target 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. Thirteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $617.57.

Tyler Technologies Stock Down 1.4%

Shares of Tyler Technologies stock opened at $445.50 on Friday. The company has a 50 day moving average price of $458.31 and a 200 day moving average price of $513.95. The firm has a market capitalization of $19.17 billion, a P/E ratio of 61.96, a PEG ratio of 3.05 and a beta of 0.91. Tyler Technologies, Inc. has a 52 week low of $430.00 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, 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 business had revenue of $595.88 million for the quarter, compared to analyst estimates of $594.34 million. During the same quarter in the prior year, the business posted $2.52 EPS. Tyler Technologies’s revenue for the quarter 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, research analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Insider Transactions at Tyler Technologies

In related news, Director Glenn A. Carter sold 500 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $458.73, for a total value of $229,365.00. Following the sale, the director owned 3,172 shares in the company, valued at $1,455,091.56. This represents a 13.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian K. Miller sold 1,000 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $469.08, for a total transaction of $469,080.00. Following the completion of the transaction, the chief financial officer owned 12,781 shares in the company, valued at approximately $5,995,311.48. This trade represents a 7.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 3,500 shares of company stock worth $1,605,605 over the last three months. Corporate insiders own 1.10% of the company’s stock.

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.