Mirae Asset Global Investments Co. Ltd. trimmed its holdings in shares of Tyler Technologies, Inc. (NYSE:TYL – Get Rating) by 21.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,883 shares of the technology company’s stock after selling 2,964 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Tyler Technologies were worth $4,842,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Tyler Technologies by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 4,603,034 shares of the technology company’s stock valued at $2,047,844,000 after purchasing an additional 66,211 shares in the last quarter. BlackRock Inc. boosted its position in Tyler Technologies by 0.8% in the 1st quarter. BlackRock Inc. now owns 4,278,185 shares of the technology company’s stock valued at $1,903,323,000 after buying an additional 35,064 shares during the last quarter. State Street Corp boosted its position in Tyler Technologies by 2.6% in the 4th quarter. State Street Corp now owns 1,692,988 shares of the technology company’s stock valued at $910,743,000 after buying an additional 42,788 shares during the last quarter. Invesco Ltd. boosted its position in Tyler Technologies by 15.3% in the 1st quarter. Invesco Ltd. now owns 762,769 shares of the technology company’s stock valued at $339,347,000 after buying an additional 101,365 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Tyler Technologies by 2.5% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 544,039 shares of the technology company’s stock valued at $242,037,000 after buying an additional 13,395 shares during the last quarter. 89.42% of the stock is owned by institutional investors and hedge funds.
In related news, COO Jeffrey David Puckett sold 3,906 shares of the stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $390.15, for a total transaction of $1,523,925.90. Following the completion of the transaction, the chief operating officer now owns 3,569 shares in the company, valued at $1,392,445.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is owned by corporate insiders.
Tyler Technologies Stock Performance
Tyler Technologies (NYSE:TYL – Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The technology company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.05. Tyler Technologies had a return on equity of 10.26% and a net margin of 9.84%. The company had revenue of $468.70 million during the quarter, compared to analysts’ expectations of $458.50 million. During the same period in the prior year, the firm earned $1.42 earnings per share. Tyler Technologies’s revenue for the quarter was up 16.0% compared to the same quarter last year. On average, research analysts predict that Tyler Technologies, Inc. will post 5.53 EPS for the current year.
Analyst Upgrades and Downgrades
A number of brokerages have commented on TYL. Truist Financial decreased their price objective on Tyler Technologies from $550.00 to $500.00 and set a “buy” rating on the stock in a research report on Tuesday, July 5th. Robert W. Baird reduced their price target on Tyler Technologies from $600.00 to $500.00 in a research report on Friday, July 29th. Piper Sandler raised their price target on Tyler Technologies from $405.00 to $468.00 and gave the stock an “overweight” rating in a research report on Friday, July 29th. DA Davidson raised their price target on Tyler Technologies to $460.00 in a research report on Tuesday, August 9th. Finally, Wolfe Research raised their price target on Tyler Technologies from $400.00 to $460.00 and gave the stock an “outperform” rating in a research report on Monday, August 1st. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Tyler Technologies presently has an average rating of “Moderate Buy” and an average target price of $470.55.
Tyler Technologies Profile
Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. The company operates in three segments: Enterprise Software; Appraisal and Tax; and NIC. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools.
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