Sumitomo Mitsui DS Asset Management Company Ltd decreased its position in shares of Tyler Technologies, Inc. (NYSE:TYL – Get Rating) by 26.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 2,839 shares of the technology company's stock after selling 1,036 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Tyler Technologies were worth $944,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. GHP Investment Advisors Inc. bought a new stake in Tyler Technologies during the first quarter valued at about $30,000. Standard Family Office LLC bought a new stake in Tyler Technologies during the first quarter valued at about $49,000. Prospera Financial Services Inc bought a new stake in Tyler Technologies during the first quarter valued at about $58,000. FourThought Financial LLC boosted its position in Tyler Technologies by 28.3% during the first quarter. FourThought Financial LLC now owns 186 shares of the technology company's stock valued at $83,000 after purchasing an additional 41 shares in the last quarter. Finally, Tobam boosted its position in Tyler Technologies by 106.3% during the first quarter. Tobam now owns 196 shares of the technology company's stock valued at $87,000 after purchasing an additional 101 shares in the last quarter. Institutional investors own 89.42% of the company's stock.

Tyler Technologies Stock Performance

Shares of NYSE TYL opened at $341.12 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.50. The stock has a 50 day simple moving average of $381.60 and a 200-day simple moving average of $376.41. The company has a market cap of $14.18 billion, a PE ratio of 81.03 and a beta of 0.91. Tyler Technologies, Inc. has a 12-month low of $300.85 and a 12-month high of $557.55.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, COO Jeffrey David Puckett sold 2,250 shares of the business's stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $405.40, for a total transaction of $912,150.00. Following the sale, the chief operating officer now directly owns 5,169 shares of the company's stock, valued at approximately $2,095,512.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on TYL shares. Wells Fargo & Company raised Tyler Technologies from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $425.00 to $435.00 in a research report on Tuesday, June 7th. Piper Sandler raised their price target on Tyler Technologies from $405.00 to $468.00 and gave the stock an "overweight" rating in a report on Friday, July 29th. Needham & Company LLC lowered their price target on Tyler Technologies from $575.00 to $475.00 and set a "buy" rating for the company in a report on Thursday, July 28th. Barclays lowered their price target on Tyler Technologies from $445.00 to $370.00 and set an "equal weight" rating for the company in a report on Tuesday, July 12th. Finally, Truist Financial reduced their price target on Tyler Technologies from $550.00 to $500.00 and set a "buy" rating for the company in a research report on Tuesday, July 5th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, Tyler Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $470.55.

About Tyler Technologies

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Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. The company operates in three segments: Enterprise Software; Appraisal and Tax; and NIC. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools.

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