TCW Group Inc. Buys 90,172 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Key Points

• TCW Group Inc. increased its stake in Tyler Technologies, Inc. by 144.0%, owning 152,775 shares valued at approximately $88.8 million after acquiring an additional 90,172 shares in the first quarter.
• Insider transactions reported significant sales, including CEO H Lynn Moore, Jr. selling 5,250 shares for over $3 million, resulting in a 6.03% decrease in his ownership.
• The stock has a current price target range of $570 to $700 according to various analysts, with a consensus rating of “Moderate Buy” on Tyler Technologies' shares.

TCW Group Inc. grew its holdings in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 144.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 152,775 shares of the technology company's stock after purchasing an additional 90,172 shares during the period. TCW Group Inc. owned approximately 0.35% of Tyler Technologies worth $88,822,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. LPL Financial LLC boosted its holdings in shares of Tyler Technologies by 19.8% during the 4th quarter. LPL Financial LLC now owns 13,363 shares of the technology company's stock valued at $7,706,000 after acquiring an additional 2,204 shares in the last quarter. Korea Investment CORP boosted its holdings in shares of Tyler Technologies by 46.9% during the 4th quarter. Korea Investment CORP now owns 25,245 shares of the technology company's stock valued at $14,557,000 after acquiring an additional 8,055 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Tyler Technologies by 15.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 68,512 shares of the technology company's stock valued at $40,023,000 after acquiring an additional 9,170 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Tyler Technologies by 1.0% during the 4th quarter. JPMorgan Chase & Co. now owns 465,866 shares of the technology company's stock valued at $268,637,000 after acquiring an additional 4,397 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Tyler Technologies during the 4th quarter valued at $528,465,000. Institutional investors own 93.30% of the company's stock.

Insiders Place Their Bets

In related news, CFO Brian K. Miller sold 1,200 shares of the business's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $580.72, for a total value of $696,864.00. Following the completion of the sale, the chief financial officer directly owned 13,772 shares of the company's stock, valued at $7,997,675.84. The trade was a 8.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John S. Marr, Jr. sold 4,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $568.66, for a total value of $2,274,640.00. Following the completion of the sale, the insider directly owned 6,983 shares of the company's stock, valued at $3,970,952.78. The trade was a 36.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,500 shares of company stock worth $15,177,230 over the last three months. Insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TYL shares. Needham & Company LLC reissued a "buy" rating and set a $750.00 price objective on shares of Tyler Technologies in a report on Tuesday, May 13th. Robert W. Baird cut their target price on Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Cantor Fitzgerald assumed coverage on Tyler Technologies in a report on Tuesday, June 3rd. They set a "neutral" rating and a $600.00 target price on the stock. Barclays cut their target price on Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Finally, DA Davidson cut their target price on Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $685.09.

Tyler Technologies Stock Performance

Shares of NYSE:TYL traded up $22.29 during midday trading on Thursday, reaching $576.96. The company's stock had a trading volume of 625,595 shares, compared to its average volume of 286,495. The firm has a market capitalization of $24.88 billion, a price-to-earnings ratio of 87.03, a PEG ratio of 4.31 and a beta of 0.84. The firm has a 50 day moving average price of $573.44 and a two-hundred day moving average price of $578.31. Tyler Technologies, Inc. has a fifty-two week low of $513.52 and a fifty-two week high of $661.31.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its earnings results on Wednesday, July 30th. The technology company reported $2.91 EPS for the quarter, beating analysts' consensus estimates of $2.78 by $0.13. Tyler Technologies had a return on equity of 10.29% and a net margin of 13.23%. The business had revenue of $584.01 million during the quarter, compared to analyst estimates of $587.59 million. During the same period in the previous year, the company posted $2.40 EPS. The firm's revenue was up 10.2% compared to the same quarter last year. As a group, research analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

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.