Tyler Technologies, Inc. (NYSE:TYL) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 19.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,231 shares of the technology company’s stock after purchasing an additional 847 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Tyler Technologies were worth $3,016,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Oak Thistle LLC increased its stake in Tyler Technologies by 213.7% during the 4th quarter. Oak Thistle LLC now owns 2,328 shares of the technology company’s stock worth $1,342,000 after buying an additional 1,586 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of Tyler Technologies during the third quarter worth approximately $1,309,000. Maiden Cove Capital LLC acquired a new position in Tyler Technologies in the 3rd quarter valued at $583,000. Assetmark Inc. lifted its holdings in Tyler Technologies by 9.4% in the 3rd quarter. Assetmark Inc. now owns 9,910 shares of the technology company’s stock valued at $5,785,000 after purchasing an additional 854 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Tyler Technologies during the 3rd quarter worth $569,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on TYL shares. DA Davidson reiterated a “neutral” rating and issued a $575.00 target price on shares of Tyler Technologies in a research report on Thursday, January 30th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $615.00 price objective (down previously from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. StockNews.com cut Tyler Technologies from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Truist Financial reaffirmed a “buy” rating and issued a $685.00 price target (up previously from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Finally, Barclays upped their price objective on shares of Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $645.69.

Insider Transactions at Tyler Technologies

In related news, CFO Brian K. Miller sold 6,752 shares of Tyler Technologies stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $613.75, for a total value of $4,144,040.00. Following the completion of the transaction, the chief financial officer now owns 11,918 shares in the company, valued at approximately $7,314,672.50. The trade was a 36.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John S. Marr, Jr. sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the sale, the insider now directly owns 6,983 shares in the company, valued at approximately $4,285,187.78. The trade was a 63.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock worth $18,941,368 over the last ninety days. Company insiders own 2.20% of the company’s stock.

Tyler Technologies Price Performance

Shares of TYL opened at $606.07 on Monday. The stock has a market cap of $25.94 billion, a PE ratio of 110.60, a P/E/G ratio of 4.78 and a beta of 0.78. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. Tyler Technologies, Inc. has a 1-year low of $397.80 and a 1-year high of $638.56. The firm has a 50-day simple moving average of $596.48 and a two-hundred day simple moving average of $592.72.

About Tyler Technologies

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.