ASR Vermogensbeheer N.V. Takes $704,000 Position in Tyler Technologies, Inc. (NYSE:TYL)

Key Points

• ASR Vermogensbeheer N.V. has acquired a new position in Tyler Technologies, purchasing 1,211 shares valued at approximately $704,000 in the first quarter of the year.
• Institutional investors collectively control 93.30% of Tyler Technologies stock, demonstrating significant interest from various large investment firms.
• Tyler Technologies recently reported an earnings per share (EPS) of $2.91, surpassing analysts' estimates, with a revenue increase of 10.2% year-over-year.

ASR Vermogensbeheer N.V. bought a new position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,211 shares of the technology company's stock, valued at approximately $704,000.

Several other hedge funds have also modified their holdings of TYL. Retirement Wealth Solutions LLC acquired a new position in shares of Tyler Technologies during the 1st quarter worth about $26,000. Mowery & Schoenfeld Wealth Management LLC raised its position in shares of Tyler Technologies by 820.0% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company's stock worth $27,000 after purchasing an additional 41 shares during the last quarter. Cornerstone Planning Group LLC raised its position in shares of Tyler Technologies by 221.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 61 shares of the technology company's stock worth $35,000 after purchasing an additional 42 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in shares of Tyler Technologies during the 4th quarter worth about $40,000. Finally, Whipplewood Advisors LLC raised its holdings in Tyler Technologies by 255.0% in the 1st quarter. Whipplewood Advisors LLC now owns 71 shares of the technology company's stock valued at $41,000 after acquiring an additional 51 shares during the last quarter. 93.30% of the stock is owned by hedge funds and other institutional investors.

Tyler Technologies Stock Down 3.4%

TYL stock traded down $19.58 during trading hours on Tuesday, hitting $564.62. The company's stock had a trading volume of 341,294 shares, compared to its average volume of 387,879. The stock has a 50 day moving average price of $577.11 and a two-hundred day moving average price of $579.10. The company has a market capitalization of $24.43 billion, a PE ratio of 80.66, a price-to-earnings-growth ratio of 4.49 and a beta of 0.85. Tyler Technologies, Inc. has a 12 month low of $513.52 and a 12 month high of $661.31.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.91 earnings per share for the quarter, beating analysts' consensus estimates of $2.78 by $0.13. The firm had revenue of $584.01 million during the quarter, compared to the consensus estimate of $587.59 million. Tyler Technologies had a net margin of 13.66% and a return on equity of 10.34%. The business's revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.40 EPS. Sell-side analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have commented on TYL shares. Wall Street Zen downgraded shares of Tyler Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Barclays increased their price objective on shares of Tyler Technologies from $695.00 to $715.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Wells Fargo & Company cut their price objective on shares of Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Cantor Fitzgerald started coverage on shares of Tyler Technologies in a report on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 price target for the company. Finally, Piper Sandler dropped their price objective on Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $688.27.

Insider Activity

In related news, CEO H Lynn Moore, Jr. sold 5,250 shares of Tyler Technologies stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $580.77, for a total transaction of $3,049,042.50. Following the transaction, the chief executive officer owned 81,775 shares of the company's stock, valued at $47,492,466.75. This trade represents a 6.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John S. Marr, Jr. sold 4,000 shares of Tyler Technologies stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $568.66, for a total transaction of $2,274,640.00. Following the transaction, the insider directly owned 6,983 shares in the company, valued at $3,970,952.78. The trade was a 36.42% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,352 shares of company stock worth $14,655,376. 1.10% of the stock is currently owned by insiders.

Tyler Technologies Company 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.