Dai ichi Life Insurance Company Ltd Purchases Shares of 12,697 Tyler Technologies, Inc. (NYSE:TYL)

Dai ichi Life Insurance Company Ltd purchased a new stake in Tyler Technologies, Inc. (NYSE:TYL) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 12,697 shares of the technology company’s stock, valued at approximately $7,411,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of TYL. Independence Bank of Kentucky acquired a new stake in shares of Tyler Technologies in the second quarter valued at about $25,000. Ashton Thomas Securities LLC acquired a new stake in Tyler Technologies during the third quarter worth approximately $27,000. Blue Trust Inc. grew its position in Tyler Technologies by 329.4% during the second quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after buying an additional 56 shares in the last quarter. Lynx Investment Advisory acquired a new stake in Tyler Technologies during the second quarter worth approximately $38,000. Finally, International Assets Investment Management LLC acquired a new stake in Tyler Technologies during the second quarter worth approximately $61,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Insider Transactions at Tyler Technologies

In other news, insider John S. Marr, Jr. sold 12,000 shares of Tyler Technologies stock in a transaction dated 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 transaction, the insider now directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brian K. Miller sold 2,500 shares of Tyler Technologies stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $586.97, for a total value of $1,467,425.00. Following the completion of the transaction, the chief financial officer now directly owns 11,950 shares of the company’s stock, valued at approximately $7,014,291.50. This trade represents a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,600 shares of company stock valued at $23,776,515. Corporate insiders own 1.50% of the company’s stock.

Tyler Technologies Stock Up 1.8 %

Shares of NYSE:TYL opened at $635.22 on Wednesday. The firm has a market cap of $27.19 billion, a P/E ratio of 115.92, a P/E/G ratio of 5.65 and a beta of 0.77. 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 12-month low of $397.80 and a 12-month high of $635.40. The business has a fifty day simple moving average of $595.99 and a 200 day simple moving average of $553.15.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.09. The business had revenue of $543.34 million during the quarter, compared to analyst estimates of $547.34 million. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. Tyler Technologies’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $1.66 EPS. Analysts predict that Tyler Technologies, Inc. will post 7.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TYL shares. Needham & Company LLC raised their target price on Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $627.00 target price on shares of Tyler Technologies in a report on Friday, September 13th. Piper Sandler raised their target price on Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Oppenheimer raised their target price on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, JMP Securities raised their target price on Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a report on Friday, October 25th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $642.62.

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.