Korea Investment CORP Buys 10,948 Shares of Tyler Technologies, Inc. $TYL

Korea Investment CORP lifted its stake in shares of Tyler Technologies, Inc. (NYSE:TYL) by 86.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,554 shares of the technology company’s stock after acquiring an additional 10,948 shares during the quarter. Korea Investment CORP owned about 0.05% of Tyler Technologies worth $12,323,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in TYL. Root Financial Partners LLC acquired a new stake in Tyler Technologies in the 3rd quarter worth approximately $28,000. Twin Peaks Wealth Advisors LLC acquired a new position in Tyler Technologies during the second quarter valued at approximately $32,000. Advisors Asset Management Inc. acquired a new position in Tyler Technologies during the first quarter valued at approximately $38,000. Geneos Wealth Management Inc. raised its position in shares of Tyler Technologies by 137.9% in the first quarter. Geneos Wealth Management Inc. now owns 69 shares of the technology company’s stock valued at $40,000 after purchasing an additional 40 shares during the period. Finally, Quent Capital LLC bought a new position in shares of Tyler Technologies in the third quarter valued at approximately $49,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TYL shares. TD Cowen lowered their target price on shares of Tyler Technologies from $600.00 to $500.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Robert W. Baird set a $440.00 price target on shares of Tyler Technologies in a report on Friday, February 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $750.00 price target on shares of Tyler Technologies in a research report on Tuesday, February 3rd. Wells Fargo & Company dropped their price objective on Tyler Technologies from $420.00 to $335.00 and set an “equal weight” rating on the stock in a research note on Friday, February 13th. Finally, Oppenheimer cut their price objective on Tyler Technologies from $510.00 to $450.00 and set an “outperform” rating for the company in a research report on Friday, February 13th. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $467.54.

Insiders Place Their Bets

In other news, insider Abigail Marshall Diaz-Pedrosa bought 610 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were acquired at an average cost of $325.08 per share, with a total value of $198,298.80. Following the completion of the transaction, the insider directly owned 1,123 shares in the company, valued at $365,064.84. This represents a 118.91% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian K. Miller sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $448.51, for a total value of $448,510.00. Following the completion of the transaction, the chief financial officer directly owned 17,148 shares of the company’s stock, valued at approximately $7,691,049.48. This trade represents a 5.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 8,174 shares of company stock valued at $3,228,243 in the last quarter. 1.10% of the stock is currently owned by insiders.

Tyler Technologies Price Performance

NYSE:TYL opened at $348.26 on Thursday. Tyler Technologies, Inc. has a one year low of $283.71 and a one year high of $621.34. The company has a fifty day moving average price of $381.91 and a 200 day moving average price of $456.08. The stock has a market cap of $14.97 billion, a P/E ratio of 48.37, a PEG ratio of 2.38 and a beta of 0.90.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, February 11th. The technology company reported $2.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.07). Tyler Technologies had a return on equity of 10.42% and a net margin of 13.53%.The company had revenue of $575.18 million during the quarter, compared to analyst estimates of $591.09 million. During the same quarter in the prior year, the business earned $2.43 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, equities research analysts anticipate that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Tyler Technologies Profile

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler’s product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.