MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Position in Tyler Technologies, Inc. (NYSE:TYL)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 186.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,122 shares of the technology company's stock after purchasing an additional 7,884 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Tyler Technologies were worth $7,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TYL. Norges Bank purchased a new position in Tyler Technologies in the fourth quarter valued at about $528,465,000. Van ECK Associates Corp grew its stake in Tyler Technologies by 1,991.8% in the fourth quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company's stock valued at $317,486,000 after purchasing an additional 524,259 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Tyler Technologies in the fourth quarter valued at about $159,947,000. JPMorgan Chase & Co. grew its stake in Tyler Technologies by 148.2% in the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company's stock valued at $269,369,000 after purchasing an additional 275,511 shares during the last quarter. Finally, Seilern Investment Management Ltd purchased a new position in Tyler Technologies in the fourth quarter valued at about $105,549,000. Hedge funds and other institutional investors own 93.30% of the company's stock.

Tyler Technologies Stock Performance

Shares of Tyler Technologies stock traded down $0.18 on Friday, reaching $567.24. 181,225 shares of the stock were exchanged, compared to its average volume of 260,914. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. Tyler Technologies, Inc. has a twelve month low of $458.50 and a twelve month high of $661.31. The firm has a market capitalization of $24.46 billion, a price-to-earnings ratio of 93.60, a PEG ratio of 4.93 and a beta of 0.88. The business has a 50 day moving average price of $561.52 and a two-hundred day moving average price of $588.49.

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

Insider Buying and Selling

In other Tyler Technologies news, insider John S. Marr, Jr. sold 5,000 shares of the company's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $558.86, for a total value of $2,794,300.00. Following the sale, the insider now owns 6,983 shares in the company, valued at approximately $3,902,519.38. This represents a 41.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Brenda A. Cline sold 2,500 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $577.41, for a total value of $1,443,525.00. Following the completion of the sale, the director now owns 2,519 shares in the company, valued at approximately $1,454,495.79. This represents a 49.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,962 shares of company stock valued at $13,702,451 over the last quarter. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TYL shares. Piper Sandler dropped their price target on Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Needham & Company LLC restated a "buy" rating and set a $750.00 price target on shares of Tyler Technologies in a research note on Tuesday, May 13th. Wells Fargo & Company dropped their price target on Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Truist Financial restated a "buy" rating and set a $775.00 price target (up previously from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. Finally, The Goldman Sachs Group boosted their price target on Tyler Technologies from $660.00 to $728.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, Tyler Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $687.82.

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.