Sumitomo Mitsui Trust Group Inc. Increases Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 1.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 108,129 shares of the technology company's stock after purchasing an additional 1,023 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.25% of Tyler Technologies worth $62,865,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Retirement Wealth Solutions LLC bought a new position in Tyler Technologies during the first quarter worth $26,000. Larson Financial Group LLC lifted its position in Tyler Technologies by 221.4% during the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company's stock worth $26,000 after purchasing an additional 31 shares during the period. Brown Brothers Harriman & Co. increased its stake in Tyler Technologies by 300.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company's stock valued at $32,000 after acquiring an additional 42 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in shares of Tyler Technologies during the 4th quarter worth $40,000. Finally, Whipplewood Advisors LLC raised its stake in Tyler Technologies by 255.0% during the first quarter. Whipplewood Advisors LLC now owns 71 shares of the technology company's stock worth $41,000 after acquiring an additional 51 shares in the last quarter. 93.30% of the stock is owned by institutional investors.

Tyler Technologies Price Performance

NYSE TYL traded down $15.09 during trading on Wednesday, reaching $574.96. The company's stock had a trading volume of 40,337 shares, compared to its average volume of 261,777. The firm has a fifty day moving average of $568.44 and a 200 day moving average of $580.93. The stock has a market capitalization of $24.79 billion, a PE ratio of 86.67, a P/E/G ratio of 4.63 and a beta of 0.85. Tyler Technologies, Inc. has a one year low of $501.98 and a one year high of $661.31.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share (EPS) 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 analyst estimates of $556.45 million. Tyler Technologies had a return on equity of 10.29% and a net margin of 13.23%. Tyler Technologies's revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.20 earnings per share. Research analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Brian K. Miller sold 3,333 shares of Tyler Technologies stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $568.46, for a total value of $1,894,677.18. Following the sale, the chief financial officer owned 11,231 shares in the company, valued at $6,384,374.26. The trade was a 22.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John S. Marr, Jr. sold 5,000 shares of the business's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $558.86, for a total transaction of $2,794,300.00. Following the transaction, the insider owned 6,983 shares in the company, valued at $3,902,519.38. This represents a 41.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,500 shares of company stock valued at $15,177,230 over the last quarter. Company insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. DA Davidson decreased their price target on shares of Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Wells Fargo & Company dropped their price objective on shares of Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Cantor Fitzgerald began coverage on shares of Tyler Technologies in a research report on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 price target for the company. Barclays lowered their price objective on Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Finally, Robert W. Baird cut their price target on shares of Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $680.50.

Tyler Technologies Company 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.