Tyler Technologies, Inc. (NYSE:TYL) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 12.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,384 shares of the technology company’s stock after purchasing an additional 502 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Tyler Technologies were worth $2,559,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. American International Group Inc. grew its position in shares of Tyler Technologies by 2.0% in the 4th quarter. American International Group Inc. now owns 12,875 shares of the technology company’s stock worth $5,383,000 after acquiring an additional 254 shares in the last quarter. Nomura Holdings Inc. bought a new position in Tyler Technologies during the fourth quarter worth $355,000. Congress Asset Management Co. MA acquired a new position in Tyler Technologies in the first quarter worth $340,000. Sound Income Strategies LLC bought a new stake in Tyler Technologies during the first quarter valued at $68,000. Finally, Procyon Advisors LLC raised its holdings in shares of Tyler Technologies by 3.1% during the first quarter. Procyon Advisors LLC now owns 2,435 shares of the technology company’s stock worth $1,035,000 after purchasing an additional 74 shares during the period. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Tyler Technologies Price Performance

Shares of TYL opened at $588.43 on Monday. Tyler Technologies, Inc. has a one year low of $361.16 and a one year high of $606.93. The stock’s fifty day moving average is $583.57 and its 200-day moving average is $521.95. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market capitalization of $24.98 billion, a price-to-earnings ratio of 133.13, a price-to-earnings-growth ratio of 5.55 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, July 24th. The technology company reported $2.40 EPS for the quarter, beating the consensus estimate of $2.34 by $0.06. The firm had revenue of $540.98 million for the quarter, compared to analysts’ expectations of $541.01 million. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. Tyler Technologies’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the company earned $1.53 EPS. Equities analysts anticipate that Tyler Technologies, Inc. will post 7.21 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $600.00 price target on shares of Tyler Technologies in a report on Thursday, July 25th. Oppenheimer raised their target price on shares of Tyler Technologies from $550.00 to $625.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. DA Davidson upped their target price on Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a report on Thursday. Barclays raised Tyler Technologies from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $577.00 to $700.00 in a report on Monday, October 7th. Finally, Wells Fargo & Company upped their price objective on Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $593.69.

Insider Buying and Selling

In other Tyler Technologies news, Director Daniel M. Pope sold 275 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $578.26, for a total transaction of $159,021.50. Following the completion of the transaction, the director now directly owns 3,218 shares of the company’s stock, valued at approximately $1,860,840.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Brian K. Miller sold 2,000 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $567.96, for a total value of $1,135,920.00. Following the transaction, the chief financial officer now owns 11,950 shares of the company’s stock, valued at $6,787,122. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Daniel M. Pope sold 275 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $578.26, for a total transaction of $159,021.50. Following the sale, the director now directly owns 3,218 shares of the company’s stock, valued at approximately $1,860,840.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,375 shares of company stock valued at $17,049,739 over the last quarter. Corporate insiders own 2.20% of the company’s stock.

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.