Tyler Technologies, Inc. (NYSE:TYL) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA increased its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 6.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 998,927 shares of the technology company's stock after acquiring an additional 59,554 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 2.32% of Tyler Technologies worth $580,766,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TYL. Norges Bank bought a new position in Tyler Technologies in the 4th quarter worth about $528,465,000. GAMMA Investing LLC grew its position 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 purchasing an additional 876,960 shares during the last quarter. Marshall Wace LLP grew its position in Tyler Technologies by 897.6% in the 4th 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 last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Tyler Technologies by 52.6% in 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 purchasing an additional 97,718 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in Tyler Technologies by 7.9% in the 4th quarter. Franklin Resources Inc. now owns 984,615 shares of the technology company's stock worth $567,768,000 after purchasing an additional 71,869 shares during the last quarter. Institutional investors and hedge funds own 93.30% of the company's stock.

Insider Activity

In related news, CFO Brian K. Miller sold 3,333 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 11,231 shares of the company's stock, valued at approximately $6,384,374.26. This trade represents a 22.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Brenda A. Cline sold 2,500 shares of the firm's stock in a transaction that occurred 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 transaction, the director directly owned 2,519 shares of the company's stock, valued at $1,454,495.79. This represents a 49.81% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,500 shares of company stock worth $15,177,230. Company insiders own 1.10% of the company's stock.

Tyler Technologies Stock Performance

Shares of NYSE:TYL opened at $563.41 on Tuesday. The stock has a market capitalization of $24.30 billion, a price-to-earnings ratio of 84.85, a PEG ratio of 4.31 and a beta of 0.84. Tyler Technologies, Inc. has a 1-year low of $513.52 and a 1-year high of $661.31. The company has a 50 day moving average price of $574.81 and a 200 day moving average price of $579.64.

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 for the quarter, topping analysts' consensus estimates of $2.56 by $0.22. Tyler Technologies had a net margin of 13.23% and a return on equity of 10.29%. The firm had revenue of $562.43 million during the quarter, compared to analysts' expectations of $556.45 million. During the same period last year, the firm posted $2.20 earnings per share. The firm's revenue for the quarter was up 10.3% compared to the same quarter last year. On average, sell-side analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Piper Sandler decreased their target price on shares of Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Wells Fargo & Company decreased their price objective on shares of Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Robert W. Baird decreased their price objective on shares of Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Needham & Company LLC reiterated a "buy" rating and issued a $750.00 price objective on shares of Tyler Technologies in a report on Tuesday, May 13th. Finally, Cantor Fitzgerald started coverage on shares of Tyler Technologies in a report on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 price objective for the company. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $680.50.

About Tyler Technologies

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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