Tyler Technologies, Inc. (NYSE:TYL) Stake Boosted by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 120.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 81,487 shares of the technology company’s stock after acquiring an additional 44,584 shares during the period. Assenagon Asset Management S.A.’s holdings in Tyler Technologies were worth $46,989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of TYL. Acadian Asset Management LLC bought a new stake in shares of Tyler Technologies during the 2nd quarter valued at about $299,000. Choreo LLC bought a new position in shares of Tyler Technologies during the second quarter valued at approximately $254,000. American Century Companies Inc. raised its position in shares of Tyler Technologies by 6.3% during the 2nd quarter. American Century Companies Inc. now owns 2,185 shares of the technology company’s stock worth $1,099,000 after purchasing an additional 130 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Tyler Technologies by 10.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 157,027 shares of the technology company’s stock worth $78,942,000 after purchasing an additional 14,595 shares during the last quarter. Finally, Wealth Alliance lifted its holdings in shares of Tyler Technologies by 4.8% in the 2nd quarter. Wealth Alliance now owns 761 shares of the technology company’s stock worth $383,000 after purchasing an additional 35 shares during the last quarter. 93.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider John S. Marr, Jr. sold 12,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the completion of the sale, the insider now directly owns 6,983 shares of the company’s stock, valued at $4,285,187.78. This represents a 63.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Brian K. Miller sold 3,000 shares of Tyler Technologies stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $602.72, for a total value of $1,808,160.00. Following the completion of the transaction, the chief financial officer now directly owns 11,950 shares in the company, valued at $7,202,504. This represents a 20.07 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,252 shares of company stock worth $26,096,928. Corporate insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. DA Davidson increased their target price on Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Oppenheimer increased their price objective on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Truist Financial reiterated a “buy” rating and issued a $685.00 price objective (up from $600.00) on shares of Tyler Technologies in a research report on Friday, October 25th. Wells Fargo & Company restated an “equal weight” rating and issued a $615.00 target price (down previously from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. Finally, Piper Sandler lifted their price target on Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $643.77.

Tyler Technologies Trading Up 0.3 %

Shares of Tyler Technologies stock opened at $571.76 on Thursday. The business has a fifty day simple moving average of $602.48 and a 200-day simple moving average of $582.64. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $638.56. The firm has a market cap of $24.47 billion, a price-to-earnings ratio of 104.34, a price-to-earnings-growth ratio of 5.54 and a beta of 0.78. 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 (NYSE:TYL) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. The company had revenue of $543.34 million during the quarter, compared to the consensus estimate of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. Tyler Technologies’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.66 EPS. On average, equities analysts forecast that Tyler Technologies, Inc. will post 7.36 EPS for the current fiscal 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.