Resona Asset Management Co. Ltd. Has $10.74 Million Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Resona Asset Management Co. Ltd. grew its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 4.8% during the 1st quarter, Holdings Channel reports. The firm owned 18,471 shares of the technology company’s stock after purchasing an additional 840 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Tyler Technologies were worth $10,736,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of TYL. Retirement Wealth Solutions LLC bought a new position in Tyler Technologies in the first quarter valued at approximately $26,000. Mowery & Schoenfeld Wealth Management LLC raised its position in shares of Tyler Technologies by 820.0% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company’s stock valued at $27,000 after acquiring an additional 41 shares during the last quarter. Cornerstone Planning Group LLC lifted its stake in shares of Tyler Technologies by 221.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 61 shares of the technology company’s stock valued at $35,000 after purchasing an additional 42 shares during the period. Zions Bancorporation National Association UT acquired a new position in shares of Tyler Technologies in the 1st quarter valued at $38,000. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Tyler Technologies in the 4th quarter worth $40,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Analyst Ratings Changes

TYL has been the subject of a number of recent analyst reports. Piper Sandler dropped their price objective on Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating for the company in a report on Friday, April 25th. Barclays increased their price target on shares of Tyler Technologies from $695.00 to $715.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Needham & Company LLC reissued a “buy” rating and set a $750.00 price objective on shares of Tyler Technologies in a research note on Tuesday, May 13th. Robert W. Baird lowered their target price on shares of Tyler Technologies from $785.00 to $700.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Finally, Wall Street Zen downgraded shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $688.27.

Tyler Technologies Stock Performance

NYSE TYL opened at $580.24 on Thursday. The stock has a market cap of $25.10 billion, a price-to-earnings ratio of 82.89, a PEG ratio of 4.33 and a beta of 0.85. The business has a 50 day simple moving average of $577.14 and a 200 day simple moving average of $579.11. Tyler Technologies, Inc. has a 52-week low of $513.52 and a 52-week high of $661.31.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.78 by $0.13. Tyler Technologies had a net margin of 13.66% and a return on equity of 10.34%. The company had revenue of $584.01 million during the quarter, compared to analysts’ expectations of $587.59 million. During the same quarter in the prior year, the company earned $2.40 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Insider Activity at Tyler Technologies

In other news, insider John S. Marr, Jr. sold 4,000 shares of the business’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $568.66, for a total value of $2,274,640.00. Following the sale, the insider directly owned 6,983 shares in the company, valued at $3,970,952.78. The trade was a 36.42% 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, CEO H Lynn Moore, Jr. sold 5,250 shares of the company’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $588.89, for a total value of $3,091,672.50. Following the transaction, the chief executive officer directly owned 81,775 shares of the company’s stock, valued at $48,156,479.75. This represents a 6.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,602 shares of company stock valued at $17,747,049. 1.10% of the stock is owned by insiders.

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.