Sumitomo Mitsui Trust Group Inc. Has $55.91 Million Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Sumitomo Mitsui Trust Group Inc. grew its position in Tyler Technologies, Inc. (NYSE:TYL) by 1.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 95,789 shares of the technology company’s stock after buying an additional 1,258 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.22% of Tyler Technologies worth $55,914,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in TYL. Waldron Private Wealth LLC raised its stake in shares of Tyler Technologies by 3.5% during the second quarter. Waldron Private Wealth LLC now owns 716 shares of the technology company’s stock worth $360,000 after buying an additional 24 shares during the last quarter. Industrial Alliance Investment Management Inc. increased its stake in shares of Tyler Technologies by 4.4% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 693 shares of the technology company’s stock valued at $295,000 after acquiring an additional 29 shares during the last quarter. George Kaiser Family Foundation grew its holdings in Tyler Technologies by 0.7% during the second quarter. George Kaiser Family Foundation now owns 4,177 shares of the technology company’s stock valued at $2,100,000 after purchasing an additional 29 shares during the period. UMB Bank n.a. increased its position in shares of Tyler Technologies by 2.4% in the 3rd quarter. UMB Bank n.a. now owns 1,354 shares of the technology company’s stock valued at $790,000 after buying an additional 32 shares in the last quarter. Finally, Torray Investment Partners LLC lifted its holdings in Tyler Technologies by 0.3% during the second quarter. Torray Investment Partners LLC now owns 11,010 shares of the technology company’s stock worth $5,536,000 after acquiring an additional 33 shares in the last quarter. 93.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Tyler Technologies news, Director Glenn A. Carter sold 3,350 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $582.57, for a total transaction of $1,951,609.50. Following the transaction, the director now owns 2,654 shares of the company’s stock, valued at $1,546,140.78. The trade was a 55.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $576.62, for a total value of $2,883,100.00. Following the completion of the sale, the chief executive officer now owns 75,000 shares in the company, valued at $43,246,500. This represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,600 shares of company stock worth $19,307,295. Insiders own 2.20% of the company’s stock.

Tyler Technologies Price Performance

Shares of NYSE TYL opened at $597.10 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. The business has a 50-day moving average of $593.78 and a 200-day moving average of $546.45. The stock has a market capitalization of $25.56 billion, a price-to-earnings ratio of 108.96, a PEG ratio of 5.56 and a beta of 0.77. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $631.43.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The firm had revenue of $543.34 million during the quarter, compared to the consensus estimate of $547.34 million. During the same period last year, the company earned $1.66 earnings per share. The business’s revenue was up 9.8% compared to the same quarter last year. As a group, sell-side analysts predict that Tyler Technologies, Inc. will post 7.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. BTIG Research increased their price target on Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a report on Friday, July 26th. JMP Securities raised their target price on shares of Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a report on Friday, October 25th. The Goldman Sachs Group reiterated a “buy” rating and issued a $627.00 price target on shares of Tyler Technologies in a report on Friday, September 13th. Oppenheimer increased their price objective on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Wells Fargo & Company boosted their price objective on shares of Tyler Technologies from $580.00 to $600.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Tyler Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $642.62.

Tyler Technologies Profile

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.