Tyler Technologies, Inc. (NYSE:TYL) Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Tyler Technologies, Inc. (NYSE:TYL) by 15.5% in the fourth quarter, Holdings Channel reports. The fund owned 68,512 shares of the technology company’s stock after purchasing an additional 9,170 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Tyler Technologies were worth $40,023,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of TYL. Van ECK Associates Corp grew its holdings in shares of Tyler Technologies by 1,991.8% in the fourth quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock valued at $317,486,000 after purchasing an additional 524,259 shares during the period. Raymond James Financial Inc. acquired a new position in Tyler Technologies in the 4th quarter valued at about $159,947,000. JPMorgan Chase & Co. grew its stake in shares of 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 buying an additional 275,511 shares during the period. Seilern Investment Management Ltd acquired a new stake in shares of Tyler Technologies during the 4th quarter worth approximately $105,549,000. Finally, Wealthfront Advisers LLC raised its position in shares of Tyler Technologies by 8,973.6% during the 4th quarter. Wealthfront Advisers LLC now owns 154,433 shares of the technology company’s stock valued at $89,052,000 after buying an additional 152,731 shares during the period. 93.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Brian K. Miller sold 1,550 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $613.58, for a total value of $951,049.00. Following the sale, the chief financial officer now directly owns 14,026 shares in the company, valued at approximately $8,606,073.08. This trade represents a 9.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of Tyler Technologies stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the sale, the chief executive officer now directly owns 75,734 shares of the company’s stock, valued at approximately $46,772,561.06. This trade represents a 7.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,064 shares of company stock worth $8,688,030. 2.20% of the stock is currently owned by company insiders.

Tyler Technologies Stock Performance

Shares of TYL stock opened at $579.39 on Friday. The firm has a 50 day moving average of $599.76 and a two-hundred day moving average of $597.63. The stock has a market capitalization of $24.98 billion, a PE ratio of 95.61, a P/E/G ratio of 4.93 and a beta of 0.80. The company has a quick ratio of 1.21, a current ratio of 1.35 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 $661.31.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. On average, research analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. The Goldman Sachs Group increased their price objective on Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Barclays raised their price objective on Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Piper Sandler upped their target price on shares of Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. DA Davidson reiterated a “neutral” rating and set a $575.00 price target on shares of Tyler Technologies in a research report on Thursday, January 30th. Finally, Needham & Company LLC restated a “buy” rating and issued a $700.00 price objective on shares of Tyler Technologies in a report on Tuesday, January 21st. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $676.25.

Tyler Technologies Company Profile

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.