Allspring Global Investments Holdings LLC Has $85.95 Million Position in Tyler Technologies, Inc. (NYSE:TYL)

Allspring Global Investments Holdings LLC grew its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 49.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 149,562 shares of the technology company’s stock after purchasing an additional 49,508 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Tyler Technologies were worth $85,953,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC raised its holdings 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 last quarter. JPMorgan Chase & Co. increased its position in Tyler Technologies by 148.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock valued at $269,369,000 after acquiring an additional 275,511 shares during the period. Seilern Investment Management Ltd acquired a new position in Tyler Technologies in the 4th quarter valued at approximately $105,549,000. FMR LLC raised its stake in shares of Tyler Technologies by 94.1% during the third quarter. FMR LLC now owns 109,319 shares of the technology company’s stock valued at $63,812,000 after acquiring an additional 52,984 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Tyler Technologies by 120.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 81,487 shares of the technology company’s stock worth $46,989,000 after purchasing an additional 44,584 shares during the period. 93.30% of the stock is currently owned by institutional investors.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, 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 value of $7,363,920.00. Following the completion of the sale, the insider now owns 6,983 shares of the company’s stock, valued at approximately $4,285,187.78. This trade represents a 63.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Brian K. Miller sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $632.01, for a total value of $1,580,025.00. Following the transaction, the chief financial officer now directly owns 12,198 shares in the company, valued at $7,709,257.98. The trade was a 17.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock valued at $18,941,368 in the last three months. Corporate insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Barclays increased their price objective on Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a report on Friday, October 25th. JMP Securities increased their price target on Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a research note on Friday, October 25th. Piper Sandler lifted their price objective 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 reissued a “buy” rating and set a $700.00 target price on shares of Tyler Technologies in a research report on Tuesday, January 21st. Finally, Truist Financial restated a “buy” rating and set a $685.00 price target (up previously from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $645.69.

Tyler Technologies Stock Performance

NYSE:TYL opened at $611.01 on Thursday. 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 twelve month low of $397.80 and a twelve month high of $638.56. The company has a fifty day moving average of $595.47 and a 200-day moving average of $593.32. The firm has a market capitalization of $26.15 billion, a P/E ratio of 111.50, a P/E/G ratio of 4.78 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. As a group, sell-side analysts anticipate that Tyler Technologies, Inc. will post 7.36 EPS for the current year.

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.