Wellington Management Group LLP Has $111.43 Million Position in Tyler Technologies, Inc. (NYSE:TYL)

Wellington Management Group LLP raised its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 28.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 193,246 shares of the technology company’s stock after acquiring an additional 42,771 shares during the quarter. Wellington Management Group LLP’s holdings in Tyler Technologies were worth $111,433,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC boosted its position in shares of Tyler Technologies by 94.1% in the 3rd quarter. FMR LLC now owns 109,319 shares of the technology company’s stock worth $63,812,000 after purchasing an additional 52,984 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in Tyler Technologies by 18.4% during the third quarter. Public Sector Pension Investment Board now owns 1,932 shares of the technology company’s stock worth $1,128,000 after buying an additional 300 shares during the last quarter. Benjamin Edwards Inc. increased its stake in shares of Tyler Technologies by 271.4% in the 3rd quarter. Benjamin Edwards Inc. now owns 1,504 shares of the technology company’s stock valued at $878,000 after acquiring an additional 1,099 shares during the last quarter. Centiva Capital LP acquired a new stake in shares of Tyler Technologies in the 3rd quarter valued at approximately $887,000. Finally, Hilltop Holdings Inc. acquired a new stake in shares of Tyler Technologies in the 3rd quarter valued at approximately $646,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Insider Activity

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,514 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total value of $4,022,981.26. Following the completion of the sale, the chief executive officer now owns 75,734 shares in the company, valued at $46,772,561.06. This trade represents a 7.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brian K. Miller sold 1,550 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $613.58, for a total transaction of $951,049.00. Following the transaction, the chief financial officer now owns 14,026 shares in the company, valued at $8,606,073.08. This represents a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,064 shares of company stock valued at $8,688,030. 2.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on TYL shares. Truist Financial reiterated a “buy” rating and issued a $775.00 target price (up from $685.00) on shares of Tyler Technologies in a report on Friday, February 14th. Needham & Company LLC restated a “buy” rating and issued a $700.00 price target on shares of Tyler Technologies in a report on Tuesday, January 21st. Piper Sandler lifted their price objective on Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a report on Friday, February 14th. StockNews.com raised Tyler Technologies from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Barclays lifted their price target on shares of Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Three equities research 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 a consensus rating of “Moderate Buy” and a consensus price target of $676.25.

Tyler Technologies Stock Down 2.2 %

Shares of TYL stock opened at $569.12 on Friday. The firm’s fifty day moving average price is $599.42 and its two-hundred day moving average price is $597.41. 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, Inc. has a 1 year low of $397.80 and a 1 year high of $661.31. The firm has a market capitalization of $24.53 billion, a P/E ratio of 93.91, a PEG ratio of 4.93 and a beta of 0.80.

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 the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. On average, equities analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

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.