Daiwa Securities Group Inc. Purchases 561 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Daiwa Securities Group Inc. lifted its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 11.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,282 shares of the technology company’s stock after acquiring an additional 561 shares during the period. Daiwa Securities Group Inc.’s holdings in Tyler Technologies were worth $3,083,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Tidal Investments LLC increased its holdings in shares of Tyler Technologies by 64.8% in the 1st quarter. Tidal Investments LLC now owns 2,953 shares of the technology company’s stock worth $1,253,000 after purchasing an additional 1,161 shares in the last quarter. SG Americas Securities LLC increased its holdings in Tyler Technologies by 18.3% in the 2nd quarter. SG Americas Securities LLC now owns 8,117 shares of the technology company’s stock worth $4,081,000 after buying an additional 1,255 shares in the last quarter. Aigen Investment Management LP purchased a new position in Tyler Technologies in the 3rd quarter worth about $1,309,000. Vaughan Nelson Investment Management L.P. lifted its stake in Tyler Technologies by 21.5% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 123,253 shares of the technology company’s stock valued at $61,969,000 after acquiring an additional 21,818 shares during the period. Finally, Swedbank AB purchased a new stake in shares of Tyler Technologies during the 2nd quarter valued at about $251,390,000. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Tyler Technologies Trading Down 0.7 %

TYL opened at $630.44 on Thursday. Tyler Technologies, Inc. has a 12 month low of $397.80 and a 12 month high of $637.53. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average of $597.11 and a 200 day moving average of $554.21. The firm has a market cap of $26.98 billion, a P/E ratio of 115.04, a P/E/G ratio of 5.65 and a beta of 0.77.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.09. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The business had revenue of $543.34 million for the quarter, compared to the consensus estimate of $547.34 million. During the same quarter in the prior year, the firm posted $1.66 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, research analysts forecast that Tyler Technologies, Inc. will post 7.36 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. JMP Securities increased their price objective on shares of Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a research report on Friday, October 25th. Robert W. Baird increased 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. Oppenheimer lifted their price objective on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Barclays increased their target price on Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Truist Financial restated a “buy” rating and set a $685.00 price target (up from $600.00) on shares of Tyler Technologies in a research note on Friday, October 25th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $642.62.

Insiders Place Their Bets

In other Tyler Technologies news, CFO Brian K. Miller sold 2,500 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $624.41, for a total value of $1,561,025.00. Following the transaction, the chief financial officer now 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Glenn A. Carter sold 3,350 shares of Tyler Technologies stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $582.57, for a total value of $1,951,609.50. Following the sale, the director now owns 2,654 shares of the company’s stock, valued at approximately $1,546,140.78. This trade represents a 55.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,100 shares of company stock valued at $22,309,090 over the last 90 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.