Mirae Asset Global Investments Co. Ltd. Buys 916 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 23.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,763 shares of the technology company’s stock after buying an additional 916 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Tyler Technologies were worth $2,761,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TYL. Larson Financial Group LLC raised its position in Tyler Technologies by 221.4% during the 4th quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock worth $26,000 after purchasing an additional 31 shares during the last quarter. Retirement Wealth Solutions LLC bought a new stake in shares of Tyler Technologies during the first quarter worth about $26,000. Brown Brothers Harriman & Co. lifted its holdings in shares of Tyler Technologies by 300.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock valued at $32,000 after purchasing an additional 42 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new position in Tyler Technologies during the 4th quarter worth $40,000. Finally, OFI Invest Asset Management bought a new stake in Tyler Technologies in the 4th quarter worth about $41,000. 93.30% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Brian K. Miller sold 3,333 shares of Tyler Technologies stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $568.46, for a total value of $1,894,677.18. Following the completion of the sale, the chief financial officer directly owned 11,231 shares in the company, valued at $6,384,374.26. The trade was a 22.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Brenda A. Cline sold 2,500 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $577.41, for a total value of $1,443,525.00. Following the sale, the director directly owned 2,519 shares in the company, valued at $1,454,495.79. This trade represents a 49.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,500 shares of company stock worth $15,177,230 over the last three months. 1.10% of the stock is owned by corporate insiders.

Tyler Technologies Stock Down 1.1%

Shares of TYL stock opened at $583.71 on Thursday. The business’s fifty day moving average is $568.72 and its 200 day moving average is $580.95. The stock has a market cap of $25.17 billion, a price-to-earnings ratio of 87.91, a PEG ratio of 4.61 and a beta of 0.84. Tyler Technologies, Inc. has a twelve month low of $503.54 and a twelve month high of $661.31.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.22. The firm had revenue of $562.43 million for the quarter, compared to the consensus estimate of $556.45 million. Tyler Technologies had a net margin of 13.23% and a return on equity of 10.29%. The company’s revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.20 EPS. Equities research analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TYL. Wall Street Zen downgraded shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. Cantor Fitzgerald began coverage on shares of Tyler Technologies in a research note on Tuesday, June 3rd. They issued a “neutral” rating and a $600.00 price target for the company. DA Davidson reduced their price objective on Tyler Technologies from $595.00 to $570.00 and set a “neutral” rating on the stock in a research report on Friday, April 25th. Wells Fargo & Company lowered their price target on shares of Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Finally, Piper Sandler dropped their price target on shares of Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating for the company in a research report on Friday, April 25th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $680.50.

Tyler Technologies Company 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.