Sumitomo Mitsui DS Asset Management Company Ltd Buys 817 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 15.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,048 shares of the technology company's stock after acquiring an additional 817 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Tyler Technologies were worth $3,516,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TYL. Norges Bank bought a new stake in Tyler Technologies in the fourth quarter worth approximately $528,465,000. GAMMA Investing LLC raised its stake in Tyler Technologies by 57,694.7% during the 1st quarter. GAMMA Investing LLC now owns 878,480 shares of the technology company's stock valued at $510,739,000 after purchasing an additional 876,960 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Tyler Technologies in the 4th quarter valued at $159,947,000. Wealthfront Advisers LLC increased its holdings in Tyler Technologies by 8,973.6% in the 4th quarter. Wealthfront Advisers LLC now owns 154,433 shares of the technology company's stock valued at $89,052,000 after buying an additional 152,731 shares during the period. Finally, Marshall Wace LLP increased its holdings in Tyler Technologies by 897.6% in the 4th quarter. Marshall Wace LLP now owns 112,210 shares of the technology company's stock valued at $64,705,000 after buying an additional 100,962 shares during the period. Institutional investors and hedge funds own 93.30% of the company's stock.

Insider Activity at Tyler Technologies

In other news, Director Brenda A. Cline sold 2,500 shares of Tyler Technologies stock in a transaction on Friday, May 16th. The stock was sold at an average price of $577.41, for a total transaction of $1,443,525.00. Following the completion of the sale, the director owned 2,519 shares of the company's stock, valued at approximately $1,454,495.79. This trade represents a 49.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brian K. Miller sold 1,200 shares of Tyler Technologies stock in a transaction on Friday, June 13th. The stock was sold at an average price of $580.72, for a total value of $696,864.00. Following the sale, the chief financial officer directly owned 13,772 shares of the company's stock, valued at $7,997,675.84. This represents a 8.01% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,500 shares of company stock valued at $15,177,230. 1.10% of the stock is currently owned by insiders.

Tyler Technologies Price Performance

Tyler Technologies stock traded down $0.48 during mid-day trading on Monday, hitting $589.56. 235,921 shares of the company's stock traded hands, compared to its average volume of 263,667. The firm has a 50 day simple moving average of $572.62 and a two-hundred day simple moving average of $580.40. Tyler Technologies, Inc. has a fifty-two week low of $503.54 and a fifty-two week high of $661.31. The stock has a market cap of $25.42 billion, a price-to-earnings ratio of 88.79, a P/E/G ratio of 4.61 and a beta of 0.84.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.22. Tyler Technologies had a return on equity of 10.29% and a net margin of 13.23%. The business had revenue of $562.43 million during the quarter, compared to the consensus estimate of $556.45 million. During the same quarter last year, the firm posted $2.20 EPS. The company's quarterly revenue was up 10.3% on a year-over-year basis. On average, research analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TYL shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $750.00 target price on shares of Tyler Technologies in a report on Tuesday, May 13th. Piper Sandler cut their price target on shares of Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Barclays cut their price target on shares of Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Robert W. Baird lowered their target price on Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Finally, Wall Street Zen cut shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus 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.