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.
Get Tyler Technologies alerts: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.
Tyler Technologies (NYSE:TYL – Get Rating) last posted its quarterly earnings results on Wednesday, July 27th. The technology company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.05. The company had revenue of $468.70 million for the quarter, compared to analysts' expectations of $458.50 million. Tyler Technologies had a return on equity of 10.26% and a net margin of 9.84%. The firm's revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.42 earnings per share. On average, equities research analysts forecast that Tyler Technologies, Inc. will post 5.52 EPS for the current year.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
(Get Rating)
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.
Read More
- Get a free copy of the StockNews.com research report on Tyler Technologies (TYL)
- Will Wall Street's Enthusiasm About Datadog Lead To Big Gains?
- MarketBeat: Week in Review 9/19 – 9/23
- Why Does Tesla Stock Remain Resilient?
- 2 Semiconductor Stocks To Watch For Reversals
- Is Costco's Post-Earnings Price Weakness A Good Time To Buy?
Want to see what other hedge funds are holding TYL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tyler Technologies, Inc. (NYSE:TYL – Get Rating).
Receive News & Ratings for Tyler Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tyler Technologies and related companies with MarketBeat.com's FREE daily email newsletter.