Mitsubishi UFJ Asset Management Co. Ltd. Increases Position in Tyler Technologies, Inc. (NYSE:TYL)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Tyler Technologies by 13.0%, owning approximately 77,405 shares valued at around $45 million.
• Several institutional investors, including Vanguard Group and GAMMA Investing LLC, also expanded their positions in Tyler Technologies, indicating strong interest among larger financial entities.
• Analysts have set a consensus price target of $688.27 for Tyler Technologies, with ratings ranging from "buy" to "hold" across different research firms.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 13.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 77,405 shares of the technology company's stock after acquiring an additional 8,893 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.18% of Tyler Technologies worth $45,002,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TYL. Vanguard Group Inc. boosted its holdings in shares of Tyler Technologies by 2.8% during the first quarter. Vanguard Group Inc. now owns 5,459,163 shares of the technology company's stock worth $3,173,903,000 after purchasing an additional 148,762 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Tyler Technologies by 6.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 998,927 shares of the technology company's stock worth $580,766,000 after buying an additional 59,554 shares during the period. GAMMA Investing LLC boosted its stake in Tyler Technologies by 57,694.7% in the 1st quarter. GAMMA Investing LLC now owns 878,480 shares of the technology company's stock worth $510,739,000 after buying an additional 876,960 shares during the last quarter. Northern Trust Corp grew its holdings in Tyler Technologies by 13.9% in the 4th quarter. Northern Trust Corp now owns 497,367 shares of the technology company's stock valued at $286,802,000 after buying an additional 60,654 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Tyler Technologies by 3.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 303,076 shares of the technology company's stock valued at $176,205,000 after acquiring an additional 11,288 shares during the last quarter. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on TYL. Piper Sandler lowered their target price on shares of Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Barclays upped their price objective on Tyler Technologies from $695.00 to $715.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Needham & Company LLC reaffirmed a "buy" rating and issued a $750.00 target price on shares of Tyler Technologies in a research report on Tuesday, May 13th. Wall Street Zen downgraded Tyler Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Finally, Robert W. Baird cut their price objective on Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $688.27.

Tyler Technologies Stock Performance

Tyler Technologies stock opened at $593.99 on Friday. The firm has a market capitalization of $25.70 billion, a PE ratio of 84.86, a price-to-earnings-growth ratio of 4.56 and a beta of 0.85. Tyler Technologies, Inc. has a one year low of $513.52 and a one year high of $661.31. The stock's 50 day moving average price is $576.89 and its 200 day moving average price is $579.36.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its earnings results on Wednesday, July 30th. The technology company reported $2.91 EPS for the quarter, topping analysts' consensus estimates of $2.78 by $0.13. The business had revenue of $584.01 million for the quarter, compared to analysts' expectations 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 for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.40 earnings per share. On average, analysts forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider John S. Marr, Jr. sold 4,000 shares of Tyler Technologies stock in a transaction dated 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 sale, the insider directly owned 6,983 shares of the company's stock, valued at approximately $3,970,952.78. The trade was a 36.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $573.60, for a total value of $215,100.00. Following the completion of the transaction, the insider directly owned 247 shares of the company's stock, valued at $141,679.20. This represents a 60.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,352 shares of company stock worth $14,655,376 over the last quarter. Company insiders own 1.10% of the company's stock.

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.

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