Wellington Management Group LLP Grows Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Wellington Management Group LLP raised its position in Tyler Technologies, Inc. (NYSE:TYL - Free Report) by 8.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 150,475 shares of the technology company's stock after buying an additional 11,235 shares during the quarter. Wellington Management Group LLP owned approximately 0.35% of Tyler Technologies worth $87,835,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of TYL. APG Asset Management N.V. lifted its position in Tyler Technologies by 1.4% during the 2nd quarter. APG Asset Management N.V. now owns 1,507,062 shares of the technology company's stock worth $706,994,000 after acquiring an additional 20,842 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Tyler Technologies by 4.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 904,175 shares of the technology company's stock worth $527,785,000 after purchasing an additional 36,066 shares during the period. Swedbank AB purchased a new position in Tyler Technologies in the 2nd quarter valued at $251,390,000. International Assets Investment Management LLC increased its stake in Tyler Technologies by 252,047.5% in the 3rd quarter. International Assets Investment Management LLC now owns 307,620 shares of the technology company's stock valued at $179,564,000 after buying an additional 307,498 shares during the period. Finally, EULAV Asset Management raised its position in Tyler Technologies by 3.0% during the 3rd quarter. EULAV Asset Management now owns 228,984 shares of the technology company's stock worth $133,663,000 after buying an additional 6,601 shares during the last quarter. 93.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TYL. JMP Securities lifted their target price on shares of Tyler Technologies from $580.00 to $700.00 and gave the company a "market outperform" rating in a report on Friday, October 25th. DA Davidson lifted their price objective on Tyler Technologies from $525.00 to $550.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Truist Financial reissued a "buy" rating and set a $685.00 target price (up from $600.00) on shares of Tyler Technologies in a research note on Friday, October 25th. Barclays lifted their price target on Tyler Technologies from $700.00 to $705.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Finally, Oppenheimer increased their price objective on Tyler Technologies from $625.00 to $700.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, Tyler Technologies currently has an average rating of "Moderate Buy" and an average target price of $642.62.

Tyler Technologies Price Performance

Shares of TYL traded up $7.58 during mid-day trading on Wednesday, reaching $625.02. 364,918 shares of the company's stock were exchanged, compared to its average volume of 235,492. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies, Inc. has a 52-week low of $397.80 and a 52-week high of $638.56. The company has a market cap of $26.75 billion, a price-to-earnings ratio of 112.67, a PEG ratio of 5.64 and a beta of 0.76. The company has a 50-day simple moving average of $606.33 and a two-hundred day simple moving average of $563.82.

Tyler Technologies (NYSE:TYL - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.09. The company had revenue of $543.34 million during the quarter, compared to the consensus estimate of $547.34 million. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. Tyler Technologies's revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.66 earnings per share. On average, sell-side analysts predict that Tyler Technologies, Inc. will post 7.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Brian K. Miller sold 3,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $602.72, for a total transaction of $1,808,160.00. Following the transaction, the chief financial officer now directly owns 11,950 shares in the company, valued at $7,202,504. This represents a 20.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John S. Marr, Jr. sold 12,000 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the completion of the sale, the insider now directly owns 6,983 shares in the company, valued at $4,285,187.78. This represents a 63.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,500 shares of company stock valued at $24,835,988 in the last ninety days. Insiders own 1.50% 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.