TYL Tyler Technologies, Inc. Common Stock
About Tyler Technologies, Inc. Common Stock Company overview from Wikipedia
Tyler Technologies, Inc. is an American technology company based in Plano, Texas, that provides proprietary software to the U.S. public sector. Tyler Technologies has offices in 17 states and one in Toronto, Ontario, Canada.
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Tyler Technologies, Inc. is an American technology company based in Plano, Texas, that provides proprietary software to the U.S. public sector. Tyler Technologies has offices in 17 states and one in Toronto, Ontario, Canada.
History
Tyler Technologies was founded by Joseph F. McKinney in 1966 as Saturn Industries after buying three government companies from Ling-Temco-Vought. In 1968, the company acquired Tyler Pipe, a manufacturer of iron pipes, which eventually became the company's main source of annual revenue. Tyler Pipe was later renamed Tyler Corporation as a result of its success. In 1969, Saturn Industries was listed on the New York Stock Exchange. In 1970, the company changed its name to Tyler Corporation. Tyler Corporation entered the government software market in 1998. Tyler Corporation changed its name to Tyler Technologies in 1999.
Acquisitions
Products
The company's public sector software includes eight categories: appraisal and tax software and services, integrated software for courts and justice agencies, data and insights services, enterprise financial software systems, planning/regulatory/maintenance software, public safety software, records/document management software, and transportation software for schools.
Controversies
In 2014, people in Marion County, Indiana sued claiming they had been wrongfully jailed. In 2016, public defenders in Alameda County, California found dozens of people wrongfully arrested or wrongfully jailed after switching to Tyler’s Odyssey Case Manager software. An October 2021 report from Lubbock County, Texas, cited problems with Tyler Technologies software there as well as in numerous other jurisdictions. In 2021, a $4.9 million federal class action lawsuit was being settled with the county paying $2.45 million and Tyler $816,668. In December 2020, the District Clerk of Wichita Falls, Texas, said they were still experiencing problems they had had since they implemented Tyler Technologies Odyssey Case Manager in July 2019, almost 1.5 years earlier. In December 2021, everythingLubbock.com reported that four months after Lubbock County, Texas, switched their court records to Tyler Technologies software, a trial attorney said, “The rollout of this Tyler system has been an absolute debacle".
In November 2016, Washington County, Pennsylvania, paid Tyler Technologies $1.6 million over their original contract amount of $6.96 million, including paying Tyler Technologies personnel to testify as expert witnesses in county court responding to property owners' complaints.
In 2021, Tyler Technologies paid $3 million to settle a federal class action lawsuit claiming that it had required some employees to work overtime and had not paid them for that time.
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TYL Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
TYL Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Financial Health Debt, liquidity, solvency — balance sheet strength
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Dividends Yield, payout ratio, dividend history, 5Y CAGR
| Ex-date | Amount |
|---|---|
| Jan. 31, 1990 | $0.0067 |
| Nov. 2, 1989 | $0.0067 |
| April 26, 1989 | $0.0050 |
| Feb. 1, 1989 | $0.0050 |
| Nov. 3, 1988 | $0.0050 |
| Aug. 22, 1988 | $3.3333 |
| Aug. 9, 1988 | $0.0367 |
| April 27, 1988 | $0.0367 |
| Feb. 3, 1988 | $0.0367 |
| Oct. 29, 1987 | $0.0367 |
| July 29, 1987 | $0.0333 |
| April 29, 1987 | $0.0333 |
| Feb. 4, 1987 | $0.0333 |
TYL Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
- Strong Buy 10 35.7%
- Buy 13 46.4%
- Hold 5 17.9%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
22 analysts · 2026-08-17Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $3.08 | $3.09 | -0.01% |
| March 31, 2026 | $3.09 | $3.04 | 0.06% |
| Dec. 31, 2025 | $2.64 | $2.75 | -0.11% |
| Sept. 30, 2025 | $2.97 | $2.88 | 0.09% |
| June 30, 2025 | $2.91 | $2.80 | 0.11% |
| March 31, 2025 | $2.78 | $2.58 | 0.20% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| TYL | $21.86B | 63.0 | 9.1% | 13.5% | 8.6% | 46.5% |
| PTC | $24.27B | 33.4 | 19.2% | 26.8% | 20.3% | 83.8% |
| GWRE | $19.12B | 279.3 | 22.6% | 5.8% | 5.1% | 62.5% |
| DT | $10.90B | 68.5 | 18.8% | 8.1% | 6.0% | 81.6% |
| FIG | $19.17B | -10.1 | 41.0% | -118.4% | -85.1% | 82.4% |
| TRMB | $18.49B | 44.5 | -2.6% | 11.8% | 7.4% | 69.1% |
| AUR | — | — | — | — | — | — |
| MANH | $10.37B | 48.1 | 3.8% | 20.3% | 74.1% | — |
| DOCU | $10.45B | 35.7 | 8.2% | 9.6% | 15.8% | 79.4% |
| HUBS | $21.09B | 466.6 | 19.2% | 1.5% | 2.2% | 83.8% |
| BMNR | $10M | 3.3 | 84.1% | 5719.1% | 8.0% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.33B | $2.14B | $1.95B | $1.85B | $1.59B | $1.12B | $1.09B | $935M | $841M | $760M | $591M | $493M | |
| Cost of Revenue | $1.25B | $1.20B | $1.09B | $1.07B | $883M | $574M | $570M | $496M | $442M | $401M | $314M | $260M | |
| Gross Profit | $1.08B | $936M | $861M | $784M | $710M | $543M | $517M | $440M | $399M | $359M | $277M | $233M | |
| SG&A Expense | $316M | $301M | $309M | $267M | $272M | $161M | $258M | $208M | $176M | $165M | $133M | $108M | |
| Operating Income | $358M | $300M | $219M | $214M | $181M | $173M | $156M | $152M | $163M | $138M | $108M | $95M | |
| Other Non-op | $38M | $15M | $3M | $2M | $2M | $3M | $5M | $3M | $698.0K | $-2M | $381.0K | $-355.0K | |
| Pretax Income | $390M | $308M | $198M | $188M | $159M | $175M | $160M | $156M | $163M | $136M | $108M | $94M | |
| Income Tax | $75M | $45M | $32M | $23M | $-2M | $-20M | $13M | $8M | $-6M | $22M | $44M | $36M | |
| Net Income | $316M | $263M | $166M | $164M | $161M | $195M | $147M | $147M | $170M | $114M | $65M | $59M | |
| EPS (Basic) | $7.32 | $6.17 | $3.95 | $3.95 | $3.95 | $4.87 | $3.79 | $3.84 | $4.55 | $3.12 | $1.90 | $1.79 | |
| EPS (Diluted) | $7.20 | $6.05 | $3.88 | $3.87 | $3.82 | $4.69 | $3.65 | $3.68 | $4.32 | $2.92 | $1.77 | $1.66 | |
| Shares (Basic) | 43,095,000 | 42,611,000 | 42,024,000 | 41,544,000 | 40,848,000 | 40,035,000 | 38,640,000 | 38,445,000 | 37,273,000 | 36,448,000 | 34,137,000 | 33,011,000 | |
| Shares (Diluted) | 43,812,000 | 43,497,000 | 42,769,000 | 42,399,000 | 42,244,000 | 41,526,000 | 40,105,000 | 40,123,000 | 39,246,000 | 38,961,000 | 36,552,000 | 35,401,000 | |
| EBITDA | $496M | $443M | · | $373M | $316M | $255M | $233M | $214M | $215M | $182M | $128M | $109M |
Balance Sheet 29
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.02B | $745M | $165M | $174M | $309M | $604M | $233M | $134M | $186M | $36M | $33M | $206M | |
| Short-term Investments | $82M | $23M | $10M | $37M | $52M | $72M | $39M | $44M | $43M | $20M | $13M | · | |
| Receivables | $639M | $588M | $620M | $577M | $521M | $382M | $374M | $299M | $246M | $200M | $176M | $113M | |
| Prepaid Expense | $75M | $65M | $55M | $51M | $56M | $31M | $25M | $33M | $32M | $21M | $22M | $18M | |
| Other Current Assets | $9M | $8M | $10M | $8M | $8M | $2M | $2M | $3M | $2M | $2M | $2M | $339.0K | |
| Current Assets | $1.84B | $1.44B | $861M | $847M | $964M | $1.11B | $680M | $519M | $521M | $283M | $268M | $337M | |
| PP&E (Net) | $160M | $164M | $170M | $173M | $181M | $168M | $172M | $155M | $152M | $124M | $101M | $66M | |
| PP&E (Gross) | $331M | $338M | $348M | $344M | $323M | $306M | $284M | $245M | $224M | $181M | $144M | $105M | |
| Accum. Depreciation | $171M | $174M | $179M | $171M | $141M | $138M | $113M | $89M | $72M | $57M | $43M | $39M | |
| Goodwill | $2.59B | $2.53B | $2.53B | $2.49B | $2.36B | $838M | $840M | $754M | $658M | $650M | $654M | $124M | |
| Intangibles | $780M | $832M | $929M | $1.00B | $1.05B | $322M | $379M | $277M | $230M | $267M | $295M | $35M | |
| Other Non-current Assets | $94M | $86M | $63M | $50M | $46M | $34M | $37M | · | · | · | · | $737.0K | |
| Total Assets | $5.64B | $5.18B | $4.68B | $4.69B | $4.73B | $2.61B | $2.19B | $1.79B | $1.61B | $1.38B | $1.36B | $570M | |
| Accounts Payable | $175M | $157M | $146M | $105M | $120M | $14M | $15M | $7M | $8M | $7M | $7M | $4M | |
| Accrued Liabilities | $191M | $198M | $159M | $132M | $158M | $83M | $75M | $66M | $65M | $56M | $49M | $40M | |
| Current Liabilities | $1.76B | $1.07B | $1.00B | $890M | $830M | $564M | $509M | $424M | $371M | $362M | $338M | $233M | |
| Capital Leases | $33M | $31M | $40M | $48M | $36M | $16M | $17M | $0 | · | · | · | · | |
| Deferred Tax | $95M | $48M | $79M | $149M | $228M | $41M | $48M | $42M | $47M | $69M | $91M | $4M | |
| Other Non-current Liabilities | $31M | $27M | $23M | $17M | $3M | $0 | · | · | · | · | · | · | |
| Total Liabilities | $1.94B | $1.79B | $1.74B | $2.06B | $2.41B | $621M | · | · | · | · | · | · | |
| Long-term Debt | $600M | $598M | $646M | $987M | $1.34B | · | · | · | · | · | · | · | |
| Total Debt | · | $598M | · | $987M | $749M | · | · | · | · | · | · | · | |
| Common Stock | $481.0K | $481.0K | $481.0K | $481.0K | $481.0K | $481.0K | $481.0K | $481.0K | $481.0K | $481.0K | $481.0K | $481.0K | |
| Retained Earnings | $2.18B | $1.87B | $1.60B | $1.44B | $1.27B | $1.11B | $917M | $772M | $624M | $436M | $326M | $261M | |
| Treasury Stock | $96M | $18M | $21M | $23M | $26M | $32M | $40M | $179M | $60M | $77M | $75M | $126M | |
| AOCI | $-11.0K | $-157.0K | $-326.0K | $-844.0K | $-46.0K | $-46.0K | $-46.0K | $-46.0K | $-46.0K | $-46.0K | $-46.0K | $-46.0K | |
| Stockholders' Equity | $3.70B | $3.39B | $2.94B | $2.62B | $2.32B | $1.99B | $1.62B | $1.32B | $1.19B | $935M | $874M | $337M | |
| Liabilities + Equity | $5.64B | $5.18B | $4.68B | $4.69B | $4.73B | $2.61B | $2.19B | $1.79B | $1.61B | $1.36B | $1.36B | $570M | |
| Shares Outstanding | 48,147,969 | 48,148,000 | 48,148,000 | 48,148,000 | 48,148,000 | 48,148,000 | 48,147,969 | 48,147,969 | 48,147,969 | 48,147,969 | 48,147,969 | · |
Cash Flow 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $138M | $143M | $154M | $159M | $136M | $82M | $77M | $62M | $53M | $50M | $20M | $15M | |
| Stock-based Comp | $151M | $123M | $108M | $103M | $105M | $67M | $60M | $53M | $37M | $30M | $20M | $15M | |
| Deferred Tax | $44M | $-31M | $-74M | $-87M | $-13M | $-8M | $-6M | $-5M | $-34M | $-26M | $-8M | $-4M | |
| Amort. of Intangibles | $94M | $97M | $111M | $114M | $91M | $54M | $52M | $40M | $36M | $36M | $10M | $6M | |
| Other Non-cash | $4M | $126M | · | $42M | $-17M | $19M | $-22M | $-7M | $-30M | $31M | $-8M | $39M | |
| Operating Cash Flow | $654M | $625M | $380M | $381M | $372M | $355M | $255M | $250M | $196M | $192M | $134M | $143M | |
| CapEx | $16M | $21M | $21M | $23M | $34M | $23M | $37M | $27M | $43M | $38M | $13M | $9M | |
| Investing Cash Flow | $-222M | $-68M | $-77M | $-173M | $-2.09B | $-98M | $-245M | $-238M | $-85M | $-51M | $-398M | · | |
| Stock Repurchased | $175M | $0 | $0 | $0 | $13M | $15M | $18M | $147M | $7M | $112M | $645.0K | $23M | |
| Net Stock Activity | $-175M | · | · | $0 | $-13M | $-15M | $-18M | $-147M | $-7M | $-112M | $-645.0K | $-23M | |
| Financing Cash Flow | $-160M | $22M | $-312M | $-344M | $1.42B | $114M | $89M | $-64M | $39M | $-138M | $91M | · | |
| Net Change in Cash | $271M | $579M | $-8M | $-135M | $-294M | $371M | $98M | $-52M | $150M | $3M | $-173M | $127M | |
| Taxes Paid | $41M | $84M | $143M | $38M | $2M | $3M | $21M | $7M | $36M | $30M | $27M | $10M | |
| Free Cash Flow | $638M | $604M | · | $359M | $338M | $332M | $217M | $223M | $153M | $154M | $77M | $114M |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 46.5% | 43.8% | · | 42.4% | 44.6% | 48.6% | 47.6% | 47.0% | 47.5% | 47.0% | 46.9% | 47.3% | |
| Operating Margin | 15.3% | 14.0% | · | 11.6% | 11.3% | 15.5% | 14.4% | 16.3% | 19.1% | 17.4% | 18.3% | 19.2% | |
| Net Margin | 13.5% | 12.3% | · | 8.9% | 10.1% | 17.4% | 13.5% | 15.8% | 19.5% | 14.5% | 11.0% | 11.9% | |
| Pretax Margin | 16.7% | 14.4% | · | 10.1% | 10.0% | 15.7% | 14.7% | 16.7% | 19.2% | 17.1% | 18.4% | 19.2% | |
| EBITDA Margin | 21.3% | 20.7% | · | 20.2% | 19.9% | 22.8% | 21.4% | 22.9% | 25.6% | 24.0% | 21.6% | 22.2% | |
| ROA | 5.8% | 5.3% | · | 3.5% | 4.4% | 8.1% | 7.4% | 8.7% | 11.1% | 8.1% | 6.7% | 11.6% | |
| ROE | 8.6% | 7.9% | · | 6.3% | 7.1% | 10.0% | 9.3% | 10.7% | 15.6% | 12.3% | 10.8% | 20.2% | |
| ROIC | 7.8% | 6.4% | · | 5.2% | 6.0% | 9.7% | 8.9% | 10.9% | 14.0% | 12.2% | 7.5% | 17.6% |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.1 | 1.4 | · | 1.0 | 1.2 | 2.0 | 1.3 | 1.2 | 1.3 | 0.8 | 0.8 | 1.5 | |
| Quick Ratio | 1.0 | 1.3 | · | 0.9 | 1.1 | 1.9 | 1.3 | 1.1 | 1.2 | 0.7 | 0.7 | 1.4 | |
| Debt / Equity | · | 0.2 | · | 0.4 | 0.3 | · | · | · | · | · | · | · | |
| LT Debt / Equity | · | 0.2 | · | 0.4 | 0.3 | · | · | · | · | · | · | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.4 | · | 0.4 | 0.4 | 0.5 | 0.5 | 0.5 | 0.6 | 0.6 | 0.6 | 1.0 | |
| Receivables Turnover | 3.8 | 3.5 | · | 3.4 | 3.5 | 3.0 | 3.2 | 3.4 | 3.9 | 4.0 | 4.1 | 4.5 |
Growth Rates 9
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 9.1% | 9.5% | 5.5% | 16.2% | 42.6% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 8.0% | 10.3% | 20.5% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 15.9% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 19.0% | 55.9% | 0.26% | 1.3% | -18.6% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 23.0% | 16.6% | -6.1% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 8.9% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 20.0% | 58.5% | 1.0% | 1.7% | -17.1% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 24.3% | 17.7% | -5.2% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 10.1% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $2.33B | $2.14B | $1.95B | $1.85B | $1.59B | $1.12B | $1.09B | $935M | $841M | $760M | $591M | $493M | |
| Net Income TTM | $316M | $263M | $166M | $164M | $161M | $195M | $147M | $147M | $170M | $114M | $65M | $59M | |
| Market Cap | $21.86B | $27.76B | · | · | · | · | · | · | · | · | · | · | |
| Enterprise Value | · | $27.59B | · | · | · | · | · | · | · | · | · | · | |
| P/E | 63.0 | 95.3 | 107.8 | 83.3 | 140.8 | 93.1 | 82.2 | 50.5 | 41.0 | 48.9 | 98.5 | 65.9 | |
| P/S | 9.4 | 13.0 | · | · | · | · | · | · | · | · | · | · | |
| P/B | 5.9 | 8.2 | · | · | · | · | · | · | · | · | · | · | |
| P / Tangible Book | 65.8 | 1119.4 | · | · | · | · | · | · | · | · | · | · | |
| P / Cash Flow | 33.4 | 44.4 | · | · | · | · | · | · | · | · | · | · | |
| P / FCF | 34.3 | 46.0 | · | · | · | · | · | · | · | · | · | · | |
| EV / EBITDA | · | 62.3 | · | · | · | · | · | · | · | · | · | · | |
| EV / FCF | · | 45.7 | · | · | · | · | · | · | · | · | · | · | |
| EV / Revenue | · | 12.9 | · | · | · | · | · | · | · | · | · | · | |
| Earnings Yield | 1.6% | 1.1% | 0.93% | 1.2% | 0.71% | 1.1% | 1.2% | 2.0% | 2.4% | 2.1% | 1.0% | 1.5% |
Income Statement 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $645M | $614M | $575M | $596M | $596M | $565M | $541M | $543M | $541M | $512M | $481M | $495M | $504M | $472M | $452M | $473M | |
| Cost of Revenue | $338M | $317M | $313M | $314M | $323M | $298M | $304M | $306M | $303M | $289M | $268M | $270M | $281M | $272M | $259M | $269M | |
| Gross Profit | $307M | $296M | $262M | $281M | $273M | $267M | $237M | $237M | $238M | $224M | $213M | $225M | $223M | $200M | $193M | $205M | |
| SG&A Expense | $94M | $84M | $80M | $80M | $77M | $79M | $80M | $72M | $75M | $73M | $80M | $79M | $78M | $72M | $67M | $70M | |
| Operating Income | $95M | $100M | $75M | $98M | $96M | $89M | $72M | $83M | $78M | $67M | $48M | $64M | $62M | $45M | $41M | $61M | |
| Other Non-op | $3M | $8M | $11M | $11M | $8M | $7M | $6M | $5M | $2M | $2M | $652.0K | $787.0K | $643.0K | $1M | $1M | $131.0K | |
| Pretax Income | $121M | $106M | $85M | $108M | $103M | $95M | $77M | $86M | $79M | $67M | $45M | $59M | $56M | $39M | $34M | $52M | |
| Income Tax | $27M | $25M | $19M | $23M | $18M | $14M | $12M | $10M | $11M | $12M | $6M | $12M | $7M | $8M | $3M | $-1M | |
| Net Income | $94M | $81M | $66M | $84M | $85M | $81M | $65M | $76M | $68M | $54M | $39M | $47M | $49M | $31M | $31M | $53M | |
| EPS (Basic) | $2.25 | $1.90 | $1.52 | $1.96 | $1.96 | $1.88 | $1.52 | $1.78 | $1.59 | $1.28 | $0.92 | $1.12 | $1.17 | $0.74 | $0.74 | $1.28 | |
| EPS (Diluted) | $2.23 | $1.88 | $1.50 | $1.93 | $1.93 | $1.84 | $1.48 | $1.74 | $1.57 | $1.26 | $0.90 | $1.10 | $1.15 | $0.73 | $0.73 | $1.26 | |
| Shares (Basic) | 41,619,000 | 42,805,000 | -86,227,000 | 43,135,000 | 43,163,000 | 43,024,000 | -84,962,000 | 42,714,000 | 42,527,000 | 42,332,000 | -83,875,000 | 42,087,000 | 41,980,000 | 41,832,000 | -82,920,000 | 41,600,000 | |
| Shares (Diluted) | 41,854,000 | 43,147,000 | -87,894,000 | 43,834,000 | 43,929,000 | 43,943,000 | -86,572,000 | 43,694,000 | 43,275,000 | 43,100,000 | -85,329,000 | 42,841,000 | 42,751,000 | 42,506,000 | -84,772,000 | 42,407,000 | |
| EBITDA | $131M | $139M | · | $133M | $130M | $124M | · | $83M | $78M | $107M | · | $64M | $62M | $83M | · | $61M |
Balance Sheet 29
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $895M | $316M | $1.02B | $834M | $787M | $706M | $745M | $538M | $251M | $188M | · | $131M | $119M | $131M | · | $186M | |
| Short-term Investments | $75M | $30M | $82M | $117M | $105M | $102M | $23M | $6M | $7M | $9M | · | $12M | $19M | $29M | · | $39M | |
| Receivables | $725M | $573M | $639M | $662M | $714M | $560M | $588M | $620M | $701M | $542M | · | $624M | $639M | $509M | · | $562M | |
| Prepaid Expense | $87M | $98M | $75M | $80M | $91M | $92M | $65M | $68M | $77M | $76M | · | $60M | $71M | $71M | · | $59M | |
| Other Current Assets | $11M | $10M | $9M | $8M | $8M | $8M | $8M | $6M | $7M | $9M | · | $7M | $10M | $7M | · | $7M | |
| Current Assets | $1.82B | $1.04B | $1.84B | $1.74B | $1.72B | $1.47B | $1.44B | $1.24B | $1.04B | $824M | · | $842M | $857M | $746M | · | $860M | |
| PP&E (Net) | $159M | $159M | $160M | $161M | $161M | $161M | $164M | $165M | $168M | $167M | · | $166M | $166M | $168M | · | $175M | |
| PP&E (Gross) | · | · | $331M | · | · | · | $338M | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $171M | · | · | · | $174M | · | · | · | · | · | · | · | · | · | |
| Goodwill | $2.75B | $2.59B | $2.59B | $2.55B | $2.54B | $2.54B | $2.53B | $2.53B | $2.53B | $2.53B | $2.53B | $2.51B | $2.49B | $2.49B | $2.49B | $2.45B | |
| Intangibles | · | $756M | $780M | $779M | $794M | $817M | $832M | $855M | $878M | $901M | · | $938M | $949M | $976M | · | $1.00B | |
| Other Non-current Assets | $88M | $92M | $94M | $88M | $86M | $86M | $86M | $83M | $77M | $63M | · | $52M | $48M | $50M | · | $50M | |
| Total Assets | $5.81B | $4.80B | $5.64B | $5.46B | $5.43B | $5.19B | $5.18B | $5.00B | $4.82B | $4.61B | · | $4.64B | $4.64B | $4.56B | $4.69B | $4.68B | |
| Accounts Payable | $179M | $186M | $175M | $148M | $172M | $171M | $157M | $145M | $150M | $145M | · | $133M | $119M | $122M | · | $108M | |
| Accrued Liabilities | $182M | $133M | $191M | $173M | $173M | $128M | $198M | $161M | $153M | $106M | · | $134M | $127M | $105M | · | $134M | |
| Current Liabilities | $1.17B | $1.04B | $1.76B | $1.69B | $1.67B | $1.56B | $1.07B | $1.02B | $987M | $873M | · | $909M | $854M | $835M | · | $812M | |
| Capital Leases | $35M | $37M | $33M | $35M | $34M | $32M | $31M | $34M | $36M | $38M | · | $42M | $44M | $47M | · | $50M | |
| Deferred Tax | $109M | $109M | $95M | $76M | $36M | $36M | $48M | $37M | $42M | $54M | · | $105M | $109M | $130M | · | $203M | |
| Other Non-current Liabilities | $35M | $33M | $31M | $31M | $25M | $27M | $27M | $32M | $26M | $24M | · | $23M | $19M | $17M | · | $14M | |
| Total Liabilities | $2.78B | $1.24B | $1.94B | $1.85B | $1.79B | $1.68B | $1.79B | $1.72B | $1.69B | $1.59B | · | $1.78B | $1.87B | $1.87B | · | $2.13B | |
| Long-term Debt | · | · | $600M | $599M | $599M | $598M | $598M | $598M | $597M | $597M | · | $735M | $869M | $869M | · | $1.08B | |
| Total Debt | · | · | · | · | · | · | · | $598M | $597M | $597M | · | $735M | $869M | $869M | · | $1.08B | |
| Common Stock | $481.0K | $481.0K | $481.0K | $481.0K | $481.0K | $481.0K | $481.0K | $481.0K | $481.0K | $481.0K | · | $481.0K | $481.0K | $481.0K | · | $481.0K | |
| Retained Earnings | $2.36B | $2.26B | $2.18B | $2.12B | $2.03B | $1.95B | $1.87B | $1.80B | $1.73B | $1.66B | · | $1.56B | $1.52B | $1.47B | · | $1.41B | |
| Treasury Stock | $781M | $276M | $96M | $160M | $18M | $17M | $18M | $19M | $19M | $20M | · | $21M | $22M | $22M | · | $23M | |
| AOCI | $-400.0K | $-279.0K | $-11.0K | $-54.0K | $-115.0K | $-83.0K | $-157.0K | $-163.0K | $-218.0K | $-273.0K | · | $-522.0K | $-785.0K | $-750.0K | · | $-846.0K | |
| Stockholders' Equity | $3.04B | $3.56B | $3.70B | $3.60B | $3.63B | $3.51B | $3.39B | $3.28B | $3.13B | $3.02B | $2.94B | $2.85B | $2.77B | $2.69B | $2.62B | $2.55B | |
| Liabilities + Equity | $5.81B | $4.80B | $5.64B | $5.46B | $5.43B | $5.19B | $5.18B | $5.00B | $4.82B | $4.61B | · | $4.64B | $4.64B | $4.56B | · | $4.68B | |
| Shares Outstanding | 48,147,969 | 48,147,969 | 48,148,000 | 48,147,969 | 48,147,969 | 48,147,969 | 48,148,000 | 48,147,969 | 48,147,969 | 48,147,969 | 48,148,000 | 48,147,969 | 48,147,969 | 48,147,969 | 48,148,000 | 48,147,969 |
Cash Flow 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $36M | $39M | $34M | $35M | $34M | $35M | $35M | $35M | $34M | $40M | $40M | $38M | $38M | $38M | $42M | $41M | |
| Stock-based Comp | $44M | $37M | $39M | $37M | $38M | $38M | $34M | $31M | $30M | $27M | $27M | $27M | $26M | $28M | $25M | $27M | |
| Deferred Tax | $18M | $14M | $17M | $37M | $0 | $-11M | $11M | $-5M | $-12M | $-24M | $-30M | $-4M | $-21M | $-19M | $-54M | $-14M | |
| Other Non-cash | · | $-64M | · | · | · | $-86M | · | · | · | $-25M | · | · | · | $-4M | · | · | |
| Operating Cash Flow | $124M | $107M | $244M | $255M | $98M | $56M | $225M | $264M | $64M | $72M | $147M | $177M | $-19M | $75M | $122M | $129M | |
| CapEx | $5M | $3M | $4M | $4M | $5M | $2M | $4M | $3M | $7M | $7M | $8M | $6M | $4M | $2M | $5M | $5M | |
| Investing Cash Flow | $-258M | $56M | $-58M | $-55M | $-13M | $-96M | $-33M | $-9M | $-13M | $-13M | $-36M | $-40M | $108.0K | $-600.0K | $-47M | $-15M | |
| Stock Repurchased | $505M | $250M | $0 | $173M | $2M | $0 | $0 | $0 | · | · | · | · | · | · | · | $0 | |
| Net Stock Activity | · | $-250M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $713M | $-863M | $-4M | $-153M | $-4M | $1M | $15M | $33M | $11M | $-36M | $-77M | $-125M | $7M | $-117M | $-87M | $-181M | |
| Net Change in Cash | $579M | $-699M | $181M | $47M | $82M | $-39M | $206M | $288M | $62M | $23M | $34M | $13M | $-12M | $-43M | $-12M | $-67M | |
| Taxes Paid | $16M | $46.0K | $-7M | $1M | $47M | $-323.0K | $39M | $7M | $40M | $-680.0K | $25M | $25M | $93M | $-548.0K | $3M | $11M | |
| Free Cash Flow | · | $104M | · | · | · | $54M | · | · | · | $65M | · | · | · | $73M | · | · |
Profitability 8
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 47.6% | 48.3% | · | 47.2% | 45.8% | 47.3% | · | 43.7% | 44.0% | 43.6% | · | 45.5% | 44.3% | 42.4% | · | 43.2% | |
| Operating Margin | 14.7% | 16.3% | · | 16.4% | 16.0% | 15.8% | · | 15.2% | 14.4% | 13.1% | · | 12.9% | 12.3% | 9.5% | · | 12.9% | |
| Net Margin | 14.5% | 13.2% | · | 14.2% | 14.2% | 14.3% | · | 14.0% | 12.5% | 10.6% | · | 9.5% | 9.7% | 6.5% | · | 11.2% | |
| Pretax Margin | 18.7% | 17.3% | · | 18.1% | 17.2% | 16.9% | · | 15.8% | 14.5% | 13.0% | · | 11.9% | 11.1% | 8.2% | · | 10.9% | |
| EBITDA Margin | 20.3% | 22.6% | · | 22.3% | 21.8% | 21.9% | · | 15.2% | 14.4% | 20.9% | · | 12.9% | 12.3% | 17.6% | · | 12.9% | |
| ROA | 1.7% | 1.6% | · | 1.6% | 1.7% | 1.7% | · | 1.6% | 1.4% | 1.2% | · | 1.0% | 1.0% | 0.67% | · | 1.1% | |
| ROE | 2.8% | 2.3% | · | 2.5% | 2.5% | 2.5% | · | 2.5% | 2.3% | 1.9% | · | 1.7% | 1.9% | 1.2% | · | 2.2% | |
| ROIC | 2.4% | 2.1% | · | 2.1% | 2.2% | 2.2% | · | 1.9% | 1.8% | 1.5% | · | 1.4% | 1.5% | 1.0% | · | 1.7% |
Liquidity & Solvency 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.6 | 1.0 | · | 1.0 | 1.0 | 0.9 | · | 1.2 | 1.1 | 0.9 | · | 0.9 | 1.0 | 0.9 | · | 1.1 | |
| Quick Ratio | 1.4 | 0.9 | · | 1.0 | 1.0 | 0.9 | · | 1.1 | 1.0 | 0.8 | · | 0.8 | 0.9 | 0.8 | · | 1.0 | |
| Debt / Equity | · | · | · | · | · | · | · | 0.2 | 0.2 | 0.2 | · | 0.3 | 0.3 | 0.3 | · | 0.4 | |
| LT Debt / Equity | · | · | · | · | · | · | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.3 | 0.3 | · | 0.4 |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Receivables Turnover | 0.9 | 1.1 | · | 0.9 | 0.8 | 1.0 | · | 0.9 | 0.8 | 1.0 | · | 0.8 | 0.8 | 0.9 | · | 0.9 |
Valuation (TTM) 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $2.45B | $2.37B | · | $2.30B | $2.25B | $2.16B | · | $2.09B | $2.05B | $1.98B | · | $1.94B | $1.92B | $1.87B | · | $1.86B | |
| Net Income TTM | $344M | $331M | · | $326M | $309M | $279M | · | $245M | $218M | $181M | · | $180M | $173M | $164M | · | $177M | |
| Market Cap | $14.08B | $16.48B | · | $25.19B | $28.54B | $27.99B | · | $28.10B | $24.21B | $20.46B | · | $18.59B | $20.05B | $17.08B | · | $16.73B | |
| Enterprise Value | · | · | · | · | · | · | · | $28.16B | $24.55B | $20.86B | · | $19.18B | $20.78B | $17.78B | · | $17.58B | |
| P/E | 36.7 | 45.2 | · | 70.3 | 83.7 | 90.7 | · | 102.9 | 99.0 | 100.2 | · | 91.1 | 102.1 | 91.6 | · | 83.1 | |
| P/S | 5.7 | 7.0 | · | 10.9 | 12.7 | 12.9 | · | 13.4 | 11.8 | 10.3 | · | 9.6 | 10.5 | 9.1 | · | 9.0 | |
| P/B | 4.6 | 4.6 | · | 7.0 | 7.9 | 8.0 | · | 8.6 | 7.7 | 6.8 | · | 6.5 | 7.2 | 6.4 | · | 6.6 | |
| P / Tangible Book | 49.8 | 78.2 | · | 93.6 | 95.5 | 182.1 | · | · | · | · | · | · | · | · | · | · | |
| P / Cash Flow | · | 153.7 | · | · | · | 498.5 | · | · | · | 284.9 | · | · | · | 228.6 | · | · | |
| P / FCF | · | 158.5 | · | · | · | 520.1 | · | · | · | 317.0 | · | · | · | 234.9 | · | · | |
| EV / EBITDA | · | · | · | · | · | · | · | 340.0 | 314.6 | 194.8 | · | 300.1 | 335.9 | 214.0 | · | 288.6 | |
| EV / FCF | · | · | · | · | · | · | · | · | · | 323.2 | · | · | · | 244.7 | · | · | |
| EV / Revenue | · | · | · | · | · | · | · | 13.5 | 12.0 | 10.5 | · | 9.9 | 10.8 | 9.5 | · | 9.5 | |
| Earnings Yield | 2.7% | 2.2% | · | 1.4% | 1.2% | 1.1% | · | 0.97% | 1.0% | 1.0% | · | 1.1% | 0.98% | 1.1% | · | 1.2% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $2.33B | $2.14B | $1.95B | $1.85B | $1.59B |
| Gross Margin % | 46.5% | 43.8% | — | 42.4% | 44.6% |
| Operating Margin % | 15.3% | 14.0% | — | 11.6% | 11.3% |
| Net Income | $316M | $263M | $166M | $164M | $161M |
| Diluted EPS | $7.20 | $6.05 | $3.88 | $3.87 | $3.82 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | — | 0.2 | — | 0.4 | 0.3 |
| Current Ratio | 1.1 | 1.4 | — | 1.0 | 1.2 |
| Quick Ratio | 1.0 | 1.3 | — | 0.9 | 1.1 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $638M | $604M | — | $359M | $338M |
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Institutional owners (13F) 830 filers · $7.6B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 110 (-19 vs prior Q) | 109 (-40 vs prior Q) | 227 (-81 vs prior Q) | 308 (+70 vs prior Q) | +2.8M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC | $806,155,754 | 2,756,465 | 10.59% | Shares |
| NORGES BANK | $781,554,311 | 2,672,346 | 10.26% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $618,827,520 | 2,115,939 | 8.13% | Shares |
| STATE STREET CORP | $596,595,003 | 2,039,920 | 7.83% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $311,901,762 | 1,064,683 | 4.10% | Shares |
| VAN ECK ASSOCIATES CORP | $249,975,798 | 854,735 | 3.28% | Shares |
| Artisan Partners Limited Partnership | $206,074,661 | 704,625 | 2.71% | Shares |
| RGM Capital, LLC | $138,474,270 | 305,043 | 1.82% | Shares |
| NEUBERGER BERMAN GROUP LLC | $133,337,819 | 455,918 | 1.75% | Shares |
| Local Pensions Partnership Investment Ltd | $130,823,964 | 447,292 | 1.72% | Shares |
| APG Asset Management N.V. | $107,740,545 | 421,185 | 1.41% | Shares |
| Balyasny Asset Management L.P. | $94,784,824 | 324,095 | 1.24% | Shares |
| CITADEL ADVISORS LLC | $92,939,109 | 317,784 | 1.22% | Shares |
| Holocene Advisors, LP | $78,674,080 | 269,008 | 1.03% | Shares |
| RIVERBRIDGE PARTNERS LLC | $73,530,767 | 251,422 | 0.97% | Shares |
| Tensile Capital Management LP | $71,665,276 | 245,043 | 0.94% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $70,518,540 | 241,122 | 0.93% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $69,217,093 | 236,672 | 0.91% | Shares |
| AMERIPRISE FINANCIAL INC | $67,736,661 | 231,610 | 0.89% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $63,908,067 | 218,519 | 0.84% | Shares |
| Mizuho Markets Cayman LP | $57,408,728 | 196,296 | 0.75% | Shares |
| Hudson Way Capital Management LLC | $53,676,646 | 183,535 | 0.70% | Shares |
| LOOMIS SAYLES & CO L P | $53,639,504 | 183,408 | 0.70% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $51,659,000 | 176,637 | 0.68% | Shares |
| Seilern Investment Management Ltd | $50,645,883 | 173,172 | 0.67% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $48,242,955 | 164,956 | 0.63% | Shares |
| NZS Capital, LLC | $47,733,566 | 163,214 | 0.63% | Shares |
| EULAV Asset Management | $46,817,582 | 160,082 | 0.61% | Shares |
| GOLDMAN SACHS GROUP INC | $45,454,718 | 155,422 | 0.60% | Shares |
| Stephens Investment Management Group LLC | $44,829,439 | 153,284 | 0.59% | Shares |
| TD Asset Management Inc | $43,743,242 | 149,570 | 0.57% | Shares |
| GENEVA CAPITAL MANAGEMENT LLC | $43,029,792 | 147,131 | 0.57% | Shares |
| BLAIR WILLIAM & CO/IL | $42,928,546 | 146,784 | 0.56% | Shares |
| Impax Asset Management Group plc | $41,860,385 | 143,132 | 0.55% | Shares |
| Madison Asset Management, LLC | $40,559,508 | 138,684 | 0.53% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $39,798,834 | 136,083 | 0.52% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $39,080,081 | 133,625 | 0.51% | Shares |
| TimesSquare Capital Management, LLC | $37,678,234 | 110,048 | 0.49% | Shares |
| Swiss National Bank | $35,001,613 | 119,680 | 0.46% | Shares |
| Quantum Capital Management, LLC / NJ | $31,064,224 | 106,217 | 0.41% | Shares |
| Mitsubishi UFJ Asset Management Co., Ltd. | $30,985,260 | 105,947 | 0.41% | Shares |
| Freestone Grove Partners LP | $30,276,629 | 103,524 | 0.40% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $29,755,173 | 101,741 | 0.39% | Shares |
| AMERICAN CAPITAL MANAGEMENT INC | $29,599,877 | 101,210 | 0.39% | Shares |
| RHUMBLINE ADVISERS | $29,536,016 | 100,992 | 0.39% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $29,341,634 | 100,327 | 0.39% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $28,790,190 | 98,407 | 0.38% | Shares |
| Conestoga Capital Advisors, LLC | $27,496,504 | 94,018 | 0.36% | Shares |
| Fenimore Asset Management Inc | $26,856,017 | 91,828 | 0.35% | Shares |
| Vanguard Global Advisers, LLC | $26,650,710 | 91,126 | 0.35% | Shares |
| BlackRock, Inc. | $25,009,717 | 85,515 | 0.33% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $24,972,574 | 85,388 | 0.33% | Shares |
| BANK OF AMERICA CORP /DE/ | $23,552,681 | 80,533 | 0.31% | Shares |
| Fiera Capital Corp | $23,405,574 | 80,030 | 0.31% | Shares |
| Gotham Asset Management, LLC | $22,712,151 | 77,659 | 0.30% | Shares |
| TRAN CAPITAL MANAGEMENT, L.P. | $22,648,687 | 77,442 | 0.30% | Shares |
| TWO SIGMA INVESTMENTS, LP | $22,530,826 | 77,039 | 0.30% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $22,010,925 | 64,288 | 0.29% | Shares |
| California Public Employees Retirement System | $21,468,026 | 73,405 | 0.28% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $20,867,898 | 71,353 | 0.27% | Shares |
| BOSTON FINANCIAL MANGEMENT LLC | $20,851,303 | 36,160 | 0.27% | Shares |
| DF DENT & CO INC | $20,707,455 | 70,804 | 0.27% | Shares |
| Kodai Capital Management LP | $20,061,443 | 34,506 | 0.26% | Shares |
| Praesidium Investment Management Company, LLC | $19,772,051 | 67,606 | 0.26% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $19,565,574 | 66,900 | 0.26% | Call option |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $19,079,798 | 65,239 | 0.25% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $18,934,042 | 64,314 | 0.25% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $18,436,678 | 63,040 | 0.24% | Shares |
| Thematics Asset Management | $18,399,537 | 35,170 | 0.24% | Shares |
| Long Path Partners LP | $18,320,279 | 62,642 | 0.24% | Shares |
| Assenagon Asset Management S.A. | $18,018,461 | 61,610 | 0.24% | Shares |
| Capital Investment Services of America, Inc. | $17,272,688 | 59,060 | 0.23% | Shares |
| ALLIANCEBERNSTEIN L.P. | $17,000,537 | 49,654 | 0.22% | Shares |
| Distillate Capital Partners LLC | $16,706,193 | 57,123 | 0.22% | Shares |
| MARSHALL WACE, LLP | $16,678,117 | 57,027 | 0.22% | Shares |
| Pictet Asset Management Holding SA | $15,989,665 | 54,673 | 0.21% | Shares |
| BARCLAYS PLC | $15,641,052 | 53,481 | 0.21% | Shares |
| USS Investment Management Ltd | $15,521,621 | 53,069 | 0.20% | Shares |
| GENERAL AMERICAN INVESTORS CO INC | $15,114,625 | 51,681 | 0.20% | Shares |
| KING LUTHER CAPITAL MANAGEMENT CORP | $15,088,889 | 51,593 | 0.20% | Shares |
| GAMCO INVESTORS, INC. ET AL | $15,015,774 | 51,343 | 0.20% | Shares |
| Avalon Trust Co | $15,011,387 | 51,328 | 0.20% | Shares |
| HM PAYSON & CO | $14,881,535 | 50,884 | 0.20% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $14,068,203 | 48,103 | 0.18% | Shares |
| Quantinno Capital Management LP | $13,667,783 | 46,733 | 0.18% | Shares |
| Empire Life Investments Inc. | $13,322,430 | 45,553 | 0.17% | Shares |
| Legal & General Group Plc | $13,232,062 | 45,244 | 0.17% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $12,692,764 | 43,400 | 0.17% | Put option |
| STIFEL FINANCIAL CORP | $12,462,344 | 42,612 | 0.16% | Shares |
| ExodusPoint Capital Management, LP | $11,985,596 | 40,982 | 0.16% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $11,909,264 | 40,721 | 0.16% | Shares |
| Baird Financial Group, Inc. | $11,897,858 | 40,682 | 0.16% | Shares |
| RAYMOND JAMES FINANCIAL INC | $11,769,760 | 40,244 | 0.15% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $11,585,465 | 39,532 | 0.15% | Shares |
| CITADEL ADVISORS LLC | $11,522,924 | 39,400 | 0.15% | Call option |
| AVIVA PLC | $11,284,277 | 38,584 | 0.15% | Shares |
| FJARDE AP-FONDEN /FOURTH SWEDISH NATIONAL PENSION FUND | $11,271,409 | 38,540 | 0.15% | Shares |
| D. E. Shaw & Co., Inc. | $11,267,314 | 38,526 | 0.15% | Shares |
| Clarkston Capital Partners, LLC | $11,247,427 | 38,458 | 0.15% | Shares |
| BROWN CAPITAL MANAGEMENT LLC | $11,121,669 | 38,028 | 0.15% | Shares |
Company insiders 23 insiders · 2 officers · 2 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Brian K Miller | Executive VP and CFO | June 15, 2026 G | 25,305 | 0 | 3 | $-1,376,240 |
| Jeffrey David Puckett | Chief Operating Officer | June 30, 2026 A | 7,784 | 0 | 5 | $-1,914,021 |
| J. Luther King, Jr. | Director | May 12, 2021 M | 102,832 | 0 | 0 | $0 |
| Benjamin T Morris | Director | Dec. 23, 2003 G | 22,500 | 0 | 0 | $0 |
| Andrew D. Teed | — | May 6, 2026 M | 5,570 | 1 | 0 | $495,856 |
| Ronnie D. Hawkins Jr. | — | May 6, 2026 M | 2,971 | 0 | 0 | $0 |
| Daniel M Pope | — | May 6, 2026 M | 3,323 | 0 | 1 | $-177,700 |
| Brenda A Cline | — | May 6, 2026 M | 2,971 | 0 | 0 | $0 |
| Glenn A Carter | — | May 6, 2026 M | 5,750 | 0 | 3 | $-1,200,093 |
| Margot Lebenberg Carter | — | May 6, 2026 M | 970 | 0 | 0 | $0 |
| Abigail Marshall Diaz-Pedrosa | — | March 1, 2026 A | 4,437 | 1 | 0 | $198,299 |
| Lynn H Moore JR | — | March 1, 2026 A | 100,392 | 0 | 0 | $0 |
| John S Marr JR | — | March 1, 2026 M | 9,342 | 0 | 11 | $-4,603,614 |
| Dustin R Womble | — | April 29, 2024 G | 6,422 | 0 | 0 | $0 |
| Mary L. Landrieu | — | June 14, 2023 S | 1,786 | 0 | 0 | $0 |
| BRATTAIN DONALD R | — | May 12, 2021 M | 1,903 | 0 | 0 | $0 |
| Larry D Leinweber | — | Dec. 15, 2017 S | 943,668 | 0 | 0 | $0 |
| John M Yeaman | — | Feb. 21, 2017 M | 315,063 | 0 | 0 | $0 |
| Bruce Graham | — | Dec. 1, 2015 A | — | 0 | 0 | $0 |
| Michael D Richards | — | June 13, 2014 M | 50,000 | 0 | 0 | $0 |
| Stuart G Reeves | — | June 6, 2014 M | 27,000 | 0 | 0 | $0 |
| Glenn A Smith | — | July 26, 2005 A | 427,571 | 0 | 0 | $0 |
| Theodore L Bathurst | — | July 15, 2005 P | 38,145 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 8 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Larry D. Leinweber | Nov. 25, 2015 | — | Initial filing | M&A / sale | SEC |
| Undisclosed reporting person | May 30, 2003 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person | Nov. 5, 2002 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person | Aug. 28, 2002 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person | July 10, 2002 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person, Undisclosed reporting person | May 24, 2002 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person | Nov. 29, 2001 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person | March 19, 2001 | — | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 146 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| TMFM · RBB Fund, Inc. | 3.93% | 14,665 NS | May 31, 2026 | N-PORT |
| DAT · ProShares Trust | 3.31% | 587 NS | May 31, 2026 | N-PORT |
| NBSM · Neuberger Berman ETF Trust | 1.26% | 9,102 NS | May 31, 2026 | N-PORT |
| PSET · Principal Exchange-Traded Funds | 0.85% | 838 NS | June 30, 2026 | N-PORT |
| CVAR · ETF Opportunities Trust | 0.75% | 857 NS | April 30, 2026 | N-PORT |
| TMFX · RBB Fund, Inc. | 0.66% | 672 NS | May 31, 2026 | N-PORT |
| COWG · Pacer Funds Trust | 0.48% | 30,460 NS | April 30, 2026 | N-PORT |
| ESLG · Strategy Shares | 0.47% | 270 NS | April 30, 2026 | N-PORT |
| NULG · Nushares ETF Trust | 0.31% | 23,869 NS | April 30, 2026 | N-PORT |
| SZNE · Pacer Funds Trust | 0.30% | 119 NS | April 30, 2026 | N-PORT |
| ESUM · Strategy Shares | 0.28% | 1,276 NS | April 30, 2026 | N-PORT |
| FXL · First Trust Exchange-Traded AlphaDE… | 0.27% | 11,794 NS | April 30, 2026 | N-PORT |
| NUMV · Nushares ETF Trust | 0.20% | 2,537 NS | April 30, 2026 | N-PORT |
| JPME · J.P. Morgan Exchange-Traded Fund Tr… | 0.18% | 2,347 NS | April 30, 2026 | N-PORT |
| JQUA · J.P. Morgan Exchange-Traded Fund Tr… | 0.17% | 36,404 NS | April 30, 2026 | N-PORT |
| JVAL · J.P. Morgan Exchange-Traded Fund Tr… | 0.12% | 2,588 NS | April 30, 2026 | N-PORT |
| FTEC · FIDELITY COVINGTON TRUST | 0.10% | 54,850 NS | April 30, 2026 | N-PORT |
| FNDA · SCHWAB STRATEGIC TRUST | 0.09% | 25,754 NS | May 31, 2026 | N-PORT |
| EGLE · Global X Funds | 0.08% | 5 NS | April 30, 2026 | N-PORT |
| FLCC · Federated Hermes ETF Trust | 0.08% | 318 NS | May 31, 2026 | N-PORT |
| PALC · Pacer Funds Trust | 0.08% | 544 NS | April 30, 2026 | N-PORT |
| RILA · Spinnaker ETF Series | 0.08% | 99 NS | April 30, 2026 | N-PORT |
| TECL · Direxion Shares ETF Trust | 0.08% | 10,536 NS | April 30, 2026 | N-PORT |
| FLCG · Federated Hermes ETF Trust | 0.06% | 1,123 NS | May 31, 2026 | N-PORT |
| GXPT · Global X Funds | 0.06% | 193 NS | May 31, 2026 | N-PORT |
| TYLG · Global X Funds | 0.06% | 22 NS | April 30, 2026 | N-PORT |
| DEUS · DBX ETF Trust | 0.06% | 480 NS | May 29, 2026 | N-PORT |
| VEGN · ETF Series Solutions | 0.05% | 239 NS | April 30, 2026 | N-PORT |
| SCHG · SCHWAB STRATEGIC TRUST | 0.05% | 90,508 NS | May 31, 2026 | N-PORT |
| ROM · ProShares Trust | 0.05% | 2,007 NS | May 31, 2026 | N-PORT |
| SPXD · DBX ETF Trust | 0.05% | 10 NS | May 31, 2026 | N-PORT |
| GGUS · Goldman Sachs ETF Trust | 0.04% | 634 NS | May 31, 2026 | N-PORT |
| SPTE · SP Funds Trust | 0.04% | 174 NS | April 30, 2026 | N-PORT |
| HLAL · Listed Funds Trust | 0.04% | 1,088 NS | May 31, 2026 | N-PORT |
| XMAG · Tidal Trust II | 0.03% | 150 NS | May 31, 2026 | N-PORT |
| CSM · ProShares Trust | 0.03% | 536 NS | May 31, 2026 | N-PORT |
| GLBL · Pacer Funds Trust | 0.03% | 1 NS | April 30, 2026 | N-PORT |
| SPUS · Tidal Trust I | 0.03% | 2,730 NS | May 31, 2026 | N-PORT |
| CHRI · Global X Funds | 0.03% | 4 NS | April 30, 2026 | N-PORT |
| ACVF · ETF Opportunities Trust | 0.03% | 109 NS | April 30, 2026 | N-PORT |
| XYLD · Global X Funds | 0.03% | 2,275 NS | April 30, 2026 | N-PORT |
| CATH · Global X Funds | 0.02% | 886 NS | April 30, 2026 | N-PORT |
| XYLG · Global X Funds | 0.02% | 46 NS | April 30, 2026 | N-PORT |
| SPXN · ProShares Trust | 0.02% | 60 NS | May 31, 2026 | N-PORT |
| PTLC · Pacer Funds Trust | 0.02% | 2,231 NS | April 30, 2026 | N-PORT |
| BBUS · J.P. Morgan Exchange-Traded Fund Tr… | 0.02% | 5,414 NS | April 30, 2026 | N-PORT |
| VOTE · TCW ETF Trust | 0.02% | 714 NS | April 30, 2026 | N-PORT |
| BKLC · BNY Mellon ETF Trust | 0.02% | 3,556 NS | April 30, 2026 | N-PORT |
| SPXV · ProShares Trust | 0.02% | 29 NS | May 31, 2026 | N-PORT |
| JUST · Goldman Sachs ETF Trust | 0.02% | 404 NS | May 31, 2026 | N-PORT |