Assenagon Asset Management S.A. Acquires 44,584 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Assenagon Asset Management S.A. lifted its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 120.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 81,487 shares of the technology company's stock after acquiring an additional 44,584 shares during the quarter. Assenagon Asset Management S.A. owned 0.19% of Tyler Technologies worth $46,989,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. FWG Holdings LLC increased its position in shares of Tyler Technologies by 3.1% during the 3rd quarter. FWG Holdings LLC now owns 910 shares of the technology company's stock valued at $551,000 after purchasing an additional 27 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in Tyler Technologies by 2.3% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,377 shares of the technology company's stock valued at $804,000 after buying an additional 31 shares during the period. UMB Bank n.a. increased its holdings in Tyler Technologies by 2.4% during the third quarter. UMB Bank n.a. now owns 1,354 shares of the technology company's stock worth $790,000 after buying an additional 32 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its position in Tyler Technologies by 1.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 1,746 shares of the technology company's stock worth $878,000 after acquiring an additional 33 shares during the period. Finally, Empirical Finance LLC boosted its stake in Tyler Technologies by 2.6% in the third quarter. Empirical Finance LLC now owns 1,342 shares of the technology company's stock valued at $783,000 after acquiring an additional 34 shares during the last quarter. 93.30% of the stock is currently owned by institutional investors.

Tyler Technologies Price Performance

Shares of TYL traded up $3.66 during mid-day trading on Thursday, reaching $575.54. 196,429 shares of the stock traded hands, compared to its average volume of 210,397. The company has a market cap of $24.63 billion, a price-to-earnings ratio of 105.03, a price-to-earnings-growth ratio of 4.35 and a beta of 0.78. Tyler Technologies, Inc. has a 1 year low of $397.80 and a 1 year high of $638.56. The firm has a fifty day moving average price of $602.48 and a 200 day moving average price of $582.64. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $543.34 million during the quarter, compared to analyst estimates of $547.34 million. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The firm's quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company earned $1.66 earnings per share. As a group, equities research analysts predict that Tyler Technologies, Inc. will post 7.36 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on TYL. StockNews.com lowered Tyler Technologies from a "buy" rating to a "hold" rating in a report on Friday, December 6th. Piper Sandler increased their price target on Tyler Technologies from $625.00 to $701.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. Needham & Company LLC boosted their price objective on Tyler Technologies from $600.00 to $700.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. Truist Financial reaffirmed a "buy" rating and set a $685.00 price objective (up from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. 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 note on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $643.77.

Insider Transactions at Tyler Technologies

In other news, CEO H Lynn Moore, Jr. sold 6,250 shares of the firm's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $605.82, for a total transaction of $3,786,375.00. Following the sale, the chief executive officer now owns 75,000 shares in the company, valued at approximately $45,436,500. This trade represents a 7.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Brian K. Miller sold 3,000 shares of Tyler Technologies stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $602.72, for a total transaction of $1,808,160.00. Following the sale, the chief financial officer now directly owns 11,950 shares of the company's stock, valued at $7,202,504. This represents a 20.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,252 shares of company stock valued at $26,096,928. 1.50% of the stock is owned by corporate insiders.

Tyler Technologies Company 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.