Tyler Technologies, Inc. (NYSE:TYL) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. raised its position in Tyler Technologies, Inc. (NYSE:TYL) by 12.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,721 shares of the technology company’s stock after purchasing an additional 520 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Tyler Technologies were worth $2,374,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TYL. Choreo LLC purchased a new stake in shares of Tyler Technologies in the 2nd quarter valued at $254,000. Prudential PLC purchased a new stake in Tyler Technologies during the second quarter worth about $204,000. Acadian Asset Management LLC acquired a new stake in shares of Tyler Technologies during the second quarter worth about $299,000. Torray Investment Partners LLC lifted its position in shares of Tyler Technologies by 0.3% during the second quarter. Torray Investment Partners LLC now owns 11,010 shares of the technology company’s stock worth $5,536,000 after purchasing an additional 33 shares in the last quarter. Finally, Chicago Capital LLC boosted its stake in shares of Tyler Technologies by 44.0% in the second quarter. Chicago Capital LLC now owns 25,838 shares of the technology company’s stock valued at $12,991,000 after purchasing an additional 7,896 shares during the period. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Tyler Technologies Stock Performance

Shares of Tyler Technologies stock opened at $581.96 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.19. Tyler Technologies, Inc. has a 52 week low of $361.16 and a 52 week high of $598.93. The firm’s 50 day moving average is $562.64 and its two-hundred day moving average is $491.58. The firm has a market capitalization of $24.83 billion, a P/E ratio of 131.67, a P/E/G ratio of 5.42 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, July 24th. The technology company reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.06. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. The firm had revenue of $540.98 million for the quarter, compared to the consensus estimate of $541.01 million. During the same period last year, the firm posted $1.53 EPS. The company’s revenue was up 7.3% on a year-over-year basis. Research analysts forecast that Tyler Technologies, Inc. will post 7.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Loop Capital increased their target price on shares of Tyler Technologies from $485.00 to $530.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. BTIG Research increased their price objective on Tyler Technologies from $550.00 to $630.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Truist Financial reissued a “buy” rating and set a $600.00 target price (up from $560.00) on shares of Tyler Technologies in a research note on Friday, July 26th. Evercore ISI raised Tyler Technologies to a “hold” rating in a research report on Friday, July 26th. Finally, DA Davidson lifted their price objective on Tyler Technologies from $456.00 to $525.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Tyler Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $582.31.

Insider Transactions at Tyler Technologies

In related news, CEO H Lynn Moore, Jr. sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $590.98, for a total value of $2,954,900.00. Following the completion of the sale, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at approximately $44,323,500. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Tyler Technologies news, Director Glenn A. Carter sold 3,350 shares of Tyler Technologies stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $582.57, for a total value of $1,951,609.50. Following the transaction, the director now directly owns 2,654 shares in the company, valued at $1,546,140.78. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $590.98, for a total transaction of $2,954,900.00. Following the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $44,323,500. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,375 shares of company stock worth $14,166,639. Corporate insiders own 2.20% of the company’s stock.

Tyler Technologies 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.