Mirae Asset Global Investments Co. Ltd. Buys 9,700 Shares of Tyler Technologies, Inc. $TYL

Mirae Asset Global Investments Co. Ltd. bought a new stake in Tyler Technologies, Inc. (NYSE:TYL) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 9,700 shares of the technology company’s stock, valued at approximately $3,090,000.

A number of other large investors have also modified their holdings of TYL. BlackRock Inc. bought a new position in Tyler Technologies in the second quarter worth $1,129,890,000. Principal Financial Group Inc. increased its stake in Tyler Technologies by 20.1% in the first quarter. Principal Financial Group Inc. now owns 1,745,625 shares of the technology company’s stock valued at $597,681,000 after acquiring an additional 291,564 shares during the period. Bank of America Corp DE raised its position in Tyler Technologies by 10.5% in the first quarter. Bank of America Corp DE now owns 405,095 shares of the technology company’s stock worth $138,696,000 after purchasing an additional 38,508 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Tyler Technologies by 13.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 400,775 shares of the technology company’s stock worth $117,211,000 after purchasing an additional 48,832 shares during the period. Finally, Deutsche Bank AG acquired a new stake in Tyler Technologies during the second quarter valued at approximately $88,645,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TYL has been the subject of a number of recent research reports. The Goldman Sachs Group increased their target price on Tyler Technologies from $345.00 to $385.00 and gave the stock a “neutral” rating in a report on Tuesday. Weiss Ratings raised Tyler Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 22nd. Piper Sandler assumed coverage on Tyler Technologies in a research report on Monday, September 28th. They issued an “overweight” rating and a $450.00 price target on the stock. Guggenheim initiated coverage on shares of Tyler Technologies in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $440.00 target price on the stock. Finally, DA Davidson reaffirmed a “buy” rating and issued a $460.00 target price on shares of Tyler Technologies in a report on Tuesday, October 27th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Tyler Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $440.88.

Insider Buying and Selling

In other Tyler Technologies news, Director Daniel Pope sold 680 shares of the stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $407.56, for a total transaction of $277,140.80. Following the sale, the director owned 2,643 shares of the company’s stock, valued at $1,077,181.08. This represents a 20.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO H. Moore, Jr. sold 10,000 shares of the stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $393.17, for a total transaction of $3,931,700.00. Following the sale, the chief executive officer directly owned 100,392 shares in the company, valued at approximately $39,471,122.64. This represents a 9.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 38,430 shares of company stock worth $14,883,788 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Tyler Technologies Price Performance

TYL stock traded down $10.04 during midday trading on Friday, reaching $420.33. 738,585 shares of the company’s stock traded hands, compared to its average volume of 793,027. The company has a 50-day simple moving average of $357.96 and a two-hundred day simple moving average of $336.87. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.51. Tyler Technologies, Inc. has a 1-year low of $270.71 and a 1-year high of $481.57. The company has a market cap of $16.71 billion, a price-to-earnings ratio of 52.94, a PEG ratio of 2.66 and a beta of 0.74.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, October 28th. The technology company reported $3.52 EPS for the quarter, topping analysts’ consensus estimates of $3.48 by $0.04. The company had revenue of $647.57 million for the quarter, compared to analyst estimates of $651.38 million. Tyler Technologies had a return on equity of 12.21% and a net margin of 13.51%. The business’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.91 earnings per share. On average, analysts anticipate that Tyler Technologies, Inc. will post 10.11 earnings per share for the current year.

About Tyler Technologies

Tyler Technologies, Inc provides integrated software and technology services to public-sector organizations. Its customers include municipalities, counties, states, courts, school districts, public safety agencies, and other government entities. The company’s solutions are designed to help public organizations manage operations, improve service delivery, and engage with residents and constituents.

Tyler’s product portfolio includes enterprise resource planning and financial management software, property tax and appraisal systems, court and justice solutions, public safety and emergency communications platforms, permitting and licensing tools, and software for schools and elections.