Tyler Technologies, Inc. (NYSE:TYL) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. trimmed its stake in Tyler Technologies, Inc. (NYSE:TYLGet Rating) by 21.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,883 shares of the technology company’s stock after selling 2,964 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Tyler Technologies were worth $4,842,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Walleye Capital LLC purchased a new position in shares of Tyler Technologies during the first quarter valued at $293,000. Cim Investment Management Inc. purchased a new position in shares of Tyler Technologies during the first quarter valued at $505,000. Virtu Financial LLC purchased a new position in shares of Tyler Technologies during the first quarter valued at $494,000. Advisors Asset Management Inc. grew its holdings in shares of Tyler Technologies by 63.8% during the first quarter. Advisors Asset Management Inc. now owns 580 shares of the technology company’s stock valued at $258,000 after buying an additional 226 shares in the last quarter. Finally, Beacon Pointe Advisors LLC purchased a new position in shares of Tyler Technologies during the first quarter valued at $5,532,000. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Tyler Technologies Price Performance

Shares of NYSE:TYL opened at $342.49 on Friday. The business has a 50 day moving average price of $381.56 and a 200 day moving average price of $377.14. Tyler Technologies, Inc. has a twelve month low of $300.85 and a twelve month high of $557.55. The company has a market cap of $14.24 billion, a price-to-earnings ratio of 81.35 and a beta of 0.91. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.50.

Tyler Technologies (NYSE:TYLGet Rating) last announced its earnings results on Wednesday, July 27th. The technology company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.05. Tyler Technologies had a return on equity of 10.26% and a net margin of 9.84%. The firm had revenue of $468.70 million during the quarter, compared to the consensus estimate of $458.50 million. During the same quarter in the prior year, the company earned $1.42 EPS. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. Research analysts predict that Tyler Technologies, Inc. will post 5.53 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Barclays lowered their price target on Tyler Technologies from $445.00 to $370.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 12th. Piper Sandler lifted their price objective on Tyler Technologies from $405.00 to $468.00 and gave the company an “overweight” rating in a research report on Friday, July 29th. Truist Financial reduced their price objective 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. Robert W. Baird reduced their price objective on Tyler Technologies from $600.00 to $500.00 in a research report on Friday, July 29th. Finally, Needham & Company LLC reduced their price objective on Tyler Technologies from $575.00 to $475.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Tyler Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $470.55.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, COO Jeffrey David Puckett sold 2,250 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $405.40, for a total value of $912,150.00. Following the completion of the transaction, the chief operating officer now owns 5,169 shares of the company’s stock, valued at approximately $2,095,512.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.00% of the stock is owned by corporate insiders.

Tyler Technologies Company Profile

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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.

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Institutional Ownership by Quarter for Tyler Technologies (NYSE:TYL)

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