Sumitomo Mitsui Trust Group Inc. Raises Stake in Tyler Technologies, Inc. (NYSE:TYL)

Sumitomo Mitsui Trust Group Inc. raised its position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 1.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,789 shares of the technology company's stock after purchasing an additional 1,258 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.22% of Tyler Technologies worth $55,914,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Waldron Private Wealth LLC grew its position in shares of Tyler Technologies by 3.5% during the 2nd quarter. Waldron Private Wealth LLC now owns 716 shares of the technology company's stock valued at $360,000 after buying an additional 24 shares during the last quarter. Industrial Alliance Investment Management Inc. boosted its stake in Tyler Technologies by 4.4% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 693 shares of the technology company's stock worth $295,000 after purchasing an additional 29 shares during the period. George Kaiser Family Foundation boosted its holdings in shares of Tyler Technologies by 0.7% during the second quarter. George Kaiser Family Foundation now owns 4,177 shares of the technology company's stock worth $2,100,000 after purchasing an additional 29 shares during the period. UMB Bank n.a. lifted its holdings in shares of Tyler Technologies by 2.4% during the 3rd quarter. UMB Bank n.a. now owns 1,354 shares of the technology company's stock valued at $790,000 after buying an additional 32 shares during the last quarter. Finally, Torray Investment Partners LLC lifted its stake in shares of Tyler Technologies by 0.3% in the 2nd quarter. Torray Investment Partners LLC now owns 11,010 shares of the technology company's stock valued at $5,536,000 after purchasing an additional 33 shares during the last quarter. Institutional investors and hedge funds own 93.30% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on TYL. Piper Sandler upped their price target on Tyler Technologies from $625.00 to $701.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. Robert W. Baird lifted their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an "outperform" rating in a report on Friday, October 25th. Oppenheimer lifted their price target on Tyler Technologies from $625.00 to $700.00 and gave the company an "outperform" rating in a report on Friday, October 25th. Needham & Company LLC lifted their target price on Tyler Technologies from $600.00 to $700.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. Finally, Truist Financial restated a "buy" rating and issued a $685.00 price objective (up from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $642.62.

Insiders Place Their Bets

In other news, CFO Brian K. Miller sold 2,500 shares of the company's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $624.41, for a total value of $1,561,025.00. Following the sale, the chief financial officer now directly owns 11,950 shares of the company's stock, valued at $7,461,699.50. This represents a 17.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John S. Marr, Jr. sold 5,000 shares of the company's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $578.94, for a total transaction of $2,894,700.00. Following the completion of the sale, the insider now owns 6,983 shares in the company, valued at approximately $4,042,738.02. This trade represents a 41.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,600 shares of company stock valued at $19,307,295 in the last ninety days. Company insiders own 2.20% of the company's stock.

Tyler Technologies Price Performance

TYL traded down $17.18 during trading on Friday, reaching $597.10. The stock had a trading volume of 252,742 shares, compared to its average volume of 230,049. The business has a 50-day moving average of $593.78 and a 200-day moving average of $546.45. The stock has a market cap of $25.56 billion, a PE ratio of 108.96, a PEG ratio of 5.56 and a beta of 0.77. Tyler Technologies, Inc. has a one year low of $397.80 and a one year high of $631.43. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.09. The business had revenue of $543.34 million during the quarter, compared to analyst estimates of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The company's revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.66 earnings per share. As a group, equities research analysts anticipate that Tyler Technologies, Inc. will post 7.39 EPS for the current fiscal year.

Tyler Technologies 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.