Mitsubishi UFJ Trust & Banking Corp Raises Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Mitsubishi UFJ Trust & Banking Corp raised its stake in Tyler Technologies, Inc. (NYSE:TYL) by 123.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,301 shares of the technology company’s stock after purchasing an additional 25,625 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.11% of Tyler Technologies worth $26,699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Larson Financial Group LLC grew its position in shares of Tyler Technologies by 221.4% in the 4th quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock worth $26,000 after buying an additional 31 shares during the last quarter. Sierra Ocean LLC purchased a new position in Tyler Technologies in the fourth quarter worth $32,000. OFI Invest Asset Management acquired a new position in shares of Tyler Technologies during the fourth quarter worth $41,000. Smithfield Trust Co increased its position in shares of Tyler Technologies by 55.6% during the fourth quarter. Smithfield Trust Co now owns 84 shares of the technology company’s stock worth $48,000 after purchasing an additional 30 shares in the last quarter. Finally, Private Trust Co. NA lifted its holdings in shares of Tyler Technologies by 51.8% during the 4th quarter. Private Trust Co. NA now owns 85 shares of the technology company’s stock valued at $49,000 after purchasing an additional 29 shares during the last quarter. 93.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Barclays upped their target price on Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. The Goldman Sachs Group increased their price objective on shares of Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Truist Financial reissued a “buy” rating and set a $775.00 target price (up previously from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $615.00 price target (down previously from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. Finally, Piper Sandler boosted their price objective on shares of Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $676.25.

Tyler Technologies Stock Down 0.5 %

Shares of TYL stock opened at $577.53 on Thursday. Tyler Technologies, Inc. has a twelve month low of $397.80 and a twelve month high of $661.31. The stock has a market cap of $24.89 billion, a P/E ratio of 95.30, a P/E/G ratio of 4.93 and a beta of 0.80. The stock has a 50 day moving average of $599.49 and a 200 day moving average of $597.82. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last posted its 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 12.30% and a return on equity of 10.15%. As a group, sell-side analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Insiders Place Their Bets

In other news, insider John S. Marr, Jr. sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $619.00, for a total value of $3,714,000.00. Following the completion of the sale, the insider now directly owns 6,983 shares in the company, valued at $4,322,477. The trade was a 46.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $617.59, for a total value of $4,022,981.26. Following the transaction, the chief executive officer now directly owns 75,734 shares of the company’s stock, valued at approximately $46,772,561.06. The trade was a 7.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,064 shares of company stock worth $8,688,030. Company insiders own 2.20% of the company’s stock.

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.