Resona Asset Management Co. Ltd. Acquires Shares of 17,631 Tyler Technologies, Inc. (NYSE:TYL)

Resona Asset Management Co. Ltd. purchased a new stake in Tyler Technologies, Inc. (NYSE:TYL - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 17,631 shares of the technology company's stock, valued at approximately $10,184,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TYL. Wells Fargo & Company MN increased its position in Tyler Technologies by 22.5% during the fourth quarter. Wells Fargo & Company MN now owns 108,107 shares of the technology company's stock worth $62,339,000 after acquiring an additional 19,858 shares during the period. Prudential PLC increased its holdings in shares of Tyler Technologies by 186.2% during the fourth quarter. Prudential PLC now owns 1,162 shares of the technology company's stock worth $670,000 after purchasing an additional 756 shares during the period. Thoroughbred Financial Services LLC raised its position in shares of Tyler Technologies by 5.1% in the fourth quarter. Thoroughbred Financial Services LLC now owns 2,074 shares of the technology company's stock valued at $1,195,000 after buying an additional 101 shares in the last quarter. Nicolet Advisory Services LLC boosted its stake in shares of Tyler Technologies by 9.6% in the fourth quarter. Nicolet Advisory Services LLC now owns 1,853 shares of the technology company's stock valued at $1,037,000 after buying an additional 163 shares during the period. Finally, OneAscent Financial Services LLC bought a new stake in shares of Tyler Technologies in the fourth quarter valued at approximately $498,000. 93.30% of the stock is owned by institutional investors and hedge funds.

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Tyler Technologies Trading Up 0.4 %

NYSE TYL traded up $2.07 during trading hours on Friday, hitting $559.66. 63,419 shares of the company's stock were exchanged, compared to its average volume of 252,837. The firm has a market cap of $24.13 billion, a price-to-earnings ratio of 92.42, a PEG ratio of 4.93 and a beta of 0.84. Tyler Technologies, Inc. has a 1-year low of $397.80 and a 1-year high of $661.31. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The stock has a 50-day simple moving average of $590.89 and a 200 day simple moving average of $595.57.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its earnings results on Wednesday, February 12th. The technology company reported $1.87 EPS for the quarter, missing analysts' consensus estimates of $2.44 by ($0.57). Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. On average, equities analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. DA Davidson reaffirmed a "neutral" rating and issued a $575.00 price objective on shares of Tyler Technologies in a report on Thursday, January 30th. Barclays upped their target price on Tyler Technologies from $705.00 to $715.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. Needham & Company LLC reissued a "buy" rating and set a $700.00 price target on shares of Tyler Technologies in a report on Tuesday, January 21st. StockNews.com lowered Tyler Technologies from a "buy" rating to a "hold" rating in a research note on Friday. Finally, Wells Fargo & Company reiterated an "equal weight" rating and issued a $615.00 target price (down previously from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $676.25.

Insiders Place Their Bets

In related news, insider John S. Marr, Jr. sold 6,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the completion of the sale, the insider now directly owns 6,983 shares of the company's stock, valued at approximately $4,322,477. This trade represents a 46.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Brian K. Miller sold 1,550 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $613.58, for a total value of $951,049.00. Following the completion of the transaction, the chief financial officer now directly owns 14,026 shares in the company, valued at approximately $8,606,073.08. This represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,064 shares of company stock valued at $8,688,030. Corporate insiders own 2.20% of the company's stock.

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.