Korea Investment CORP Acquires 8,055 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Korea Investment CORP grew its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 46.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,245 shares of the technology company’s stock after acquiring an additional 8,055 shares during the quarter. Korea Investment CORP owned 0.06% of Tyler Technologies worth $14,557,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Van ECK Associates Corp raised its stake in shares of Tyler Technologies by 1,991.8% in the fourth quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock valued at $317,486,000 after purchasing an additional 524,259 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Tyler Technologies during the 4th quarter worth about $159,947,000. JPMorgan Chase & Co. boosted its position in shares of Tyler Technologies by 148.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock valued at $269,369,000 after acquiring an additional 275,511 shares in the last quarter. Seilern Investment Management Ltd bought a new stake in Tyler Technologies in the fourth quarter valued at about $105,549,000. Finally, Wealthfront Advisers LLC lifted its stake in Tyler Technologies by 8,973.6% during the fourth quarter. Wealthfront Advisers LLC now owns 154,433 shares of the technology company’s stock worth $89,052,000 after purchasing an additional 152,731 shares during the period. Institutional investors and hedge funds own 93.30% of the company’s stock.

Insiders Place Their Bets

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 stock was sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian K. Miller sold 1,550 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $613.58, for a total transaction of $951,049.00. Following the completion of the transaction, the chief financial officer now owns 14,026 shares in the company, valued at $8,606,073.08. This trade represents a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,064 shares of company stock worth $8,688,030 over the last three months. Insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TYL. Piper Sandler increased their target price on Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. StockNews.com downgraded shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Monday, February 24th. Barclays increased their target price on shares of Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Wells Fargo & Company restated an “equal weight” rating and issued a $615.00 price target (down from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. Finally, The Goldman Sachs Group raised their price objective on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Tyler Technologies has a consensus rating of “Moderate Buy” and an average price target of $676.25.

Tyler Technologies Stock Performance

Shares of NYSE TYL opened at $579.39 on Monday. Tyler Technologies, Inc. has a 12 month low of $397.80 and a 12 month high of $661.31. The stock has a 50 day moving average of $599.76 and a 200-day moving average of $597.71. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $24.98 billion, a P/E ratio of 95.61, a P/E/G ratio of 4.93 and a beta of 0.80.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data 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, equities research analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current 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.