Assenagon Asset Management S.A. Raises Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Assenagon Asset Management S.A. lifted its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 2.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 83,159 shares of the technology company's stock after acquiring an additional 1,672 shares during the period. Assenagon Asset Management S.A. owned approximately 0.19% of Tyler Technologies worth $48,348,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of TYL. Choreo LLC grew its stake in shares of Tyler Technologies by 3.9% during the fourth quarter. Choreo LLC now owns 647 shares of the technology company's stock worth $374,000 after acquiring an additional 24 shares during the last quarter. Apollon Wealth Management LLC purchased a new stake in shares of Tyler Technologies during the fourth quarter worth about $221,000. Empowered Funds LLC boosted its position in Tyler Technologies by 54.6% in the fourth quarter. Empowered Funds LLC now owns 3,588 shares of the technology company's stock valued at $2,069,000 after buying an additional 1,267 shares during the last quarter. Portfolio Design Labs LLC purchased a new stake in Tyler Technologies in the fourth quarter valued at approximately $315,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Tyler Technologies by 49.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 149,562 shares of the technology company's stock valued at $85,953,000 after buying an additional 49,508 shares during the last quarter. Hedge funds and other institutional investors own 93.30% of the company's stock.

Tyler Technologies Stock Performance

NYSE:TYL traded up $3.21 during trading hours on Thursday, reaching $587.25. The company had a trading volume of 186,724 shares, compared to its average volume of 263,615. Tyler Technologies, Inc. has a 1-year low of $458.50 and a 1-year high of $661.31. The firm has a market cap of $25.32 billion, a PE ratio of 96.91, a price-to-earnings-growth ratio of 4.93 and a beta of 0.84. The business's 50 day moving average price is $563.00 and its 200-day moving average price is $585.29. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.22. The business had revenue of $562.43 million during the quarter, compared to the consensus estimate of $556.45 million. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The business's quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.20 EPS. Research analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Insider Transactions at Tyler Technologies

In related news, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $573.60, for a total transaction of $215,100.00. Following the completion of the sale, the insider now directly owns 247 shares in the company, valued at approximately $141,679.20. The trade was a 60.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel M. Pope sold 365 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $550.00, for a total value of $200,750.00. Following the sale, the director now owns 2,853 shares of the company's stock, valued at $1,569,150. The trade was a 11.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,256 shares of company stock valued at $13,867,329 in the last three months. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TYL. Barclays dropped their target price on Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Needham & Company LLC reiterated a "buy" rating and issued a $750.00 target price on shares of Tyler Technologies in a research report on Tuesday, May 13th. Wells Fargo & Company dropped their target price on Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Wall Street Zen lowered Tyler Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Finally, Cantor Fitzgerald began coverage on Tyler Technologies in a research report on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 target price on the stock. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $680.50.

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.