Resona Asset Management Co. Ltd. Has $10.74 Million Position in Tyler Technologies, Inc. (NYSE:TYL)

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Tyler Technologies, Inc. by 4.8% during the first quarter, owning 18,471 shares worth approximately $10.74 million at the end of the quarter.
• Several institutional investors have significantly raised their holdings in Tyler Technologies, with GAMMA Investing LLC growing its position by an astonishing 57,694.7% during the same period.
• Tyler Technologies recently reported $2.91 EPS for the quarter, exceeding analyst expectations of $2.78, though it fell short on revenue with $584.01 million reported against expectations of $587.59 million.

Resona Asset Management Co. Ltd. increased its position in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 4.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,471 shares of the technology company's stock after buying an additional 840 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Tyler Technologies were worth $10,736,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in shares of Tyler Technologies by 57,694.7% during the 1st quarter. GAMMA Investing LLC now owns 878,480 shares of the technology company's stock worth $510,739,000 after purchasing an additional 876,960 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Tyler Technologies by 2.8% in the first quarter. Vanguard Group Inc. now owns 5,459,163 shares of the technology company's stock valued at $3,173,903,000 after purchasing an additional 148,762 shares in the last quarter. Marshall Wace LLP lifted its position in Tyler Technologies by 897.6% in the fourth quarter. Marshall Wace LLP now owns 112,210 shares of the technology company's stock worth $64,705,000 after purchasing an additional 100,962 shares during the period. Nuveen LLC acquired a new position in shares of Tyler Technologies in the 1st quarter valued at $57,108,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Tyler Technologies by 52.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 283,449 shares of the technology company's stock worth $163,448,000 after acquiring an additional 97,718 shares during the period. 93.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TYL shares. Piper Sandler lowered their target price on shares of Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Cantor Fitzgerald initiated coverage on Tyler Technologies in a report on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 price objective on the stock. Wall Street Zen cut Tyler Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. DA Davidson set a $585.00 target price on Tyler Technologies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $750.00 price target on shares of Tyler Technologies in a research note on Tuesday, May 13th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, Tyler Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $688.27.

Insider Activity at Tyler Technologies

In other news, Director Brenda A. Cline sold 2,500 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $577.41, for a total transaction of $1,443,525.00. Following the transaction, the director directly owned 2,519 shares in the company, valued at approximately $1,454,495.79. This represents a 49.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian K. Miller sold 3,333 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $568.46, for a total transaction of $1,894,677.18. Following the sale, the chief financial officer directly owned 11,231 shares in the company, valued at $6,384,374.26. This trade represents a 22.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,602 shares of company stock worth $17,747,049 in the last 90 days. Corporate insiders own 1.10% of the company's stock.

Tyler Technologies Price Performance

NYSE TYL opened at $580.24 on Thursday. The stock's 50 day simple moving average is $577.14 and its 200 day simple moving average is $579.11. Tyler Technologies, Inc. has a one year low of $513.52 and a one year high of $661.31. The firm has a market cap of $25.10 billion, a PE ratio of 82.89, a price-to-earnings-growth ratio of 4.33 and a beta of 0.85.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $584.01 million for the quarter, compared to analyst estimates of $587.59 million. Tyler Technologies had a return on equity of 10.34% and a net margin of 13.66%. The business's revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.40 earnings per share. As a group, equities analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

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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