Tyler Technologies, Inc. (NYSE:TYL) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 120.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 81,487 shares of the technology company’s stock after acquiring an additional 44,584 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.19% of Tyler Technologies worth $46,989,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its holdings in shares of Tyler Technologies by 252,047.5% during the third quarter. International Assets Investment Management LLC now owns 307,620 shares of the technology company’s stock worth $179,564,000 after purchasing an additional 307,498 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Tyler Technologies by 148.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock worth $269,369,000 after buying an additional 275,511 shares during the last quarter. FMR LLC grew its holdings in Tyler Technologies by 94.1% in the 3rd quarter. FMR LLC now owns 109,319 shares of the technology company’s stock valued at $63,812,000 after buying an additional 52,984 shares during the period. Westwind Capital increased its stake in shares of Tyler Technologies by 7,614.0% during the 3rd quarter. Westwind Capital now owns 46,361 shares of the technology company’s stock valued at $27,062,000 after acquiring an additional 45,760 shares during the last quarter. Finally, LMR Partners LLP purchased a new position in shares of Tyler Technologies during the 3rd quarter worth about $23,383,000. 93.30% of the stock is owned by hedge funds and other institutional investors.

Tyler Technologies Stock Performance

Tyler Technologies stock opened at $571.76 on Thursday. Tyler Technologies, Inc. has a 12-month low of $397.80 and a 12-month high of $638.56. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market capitalization of $24.47 billion, a price-to-earnings ratio of 104.34, a price-to-earnings-growth ratio of 5.54 and a beta of 0.78. The firm’s fifty day moving average price is $602.48 and its 200 day moving average price is $582.64.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The business had revenue of $543.34 million for the quarter, compared to analyst estimates of $547.34 million. During the same period in the previous year, the company earned $1.66 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, research analysts forecast that Tyler Technologies, Inc. will post 7.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on TYL shares. StockNews.com downgraded shares of Tyler Technologies from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Wells Fargo & Company restated an “equal weight” rating and set a $615.00 price objective (down from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. JMP Securities lifted their target price on Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a report on Friday, October 25th. Truist Financial reissued a “buy” rating and set a $685.00 price target (up previously from $600.00) on shares of Tyler Technologies in a research report on Friday, October 25th. Finally, Piper Sandler raised their price objective on Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $643.77.

Insiders Place Their Bets

In related news, insider John S. Marr, Jr. sold 12,000 shares of Tyler Technologies stock in a transaction on Monday, November 25th. The shares were sold at an average price of $613.66, for a total value of $7,363,920.00. Following the completion of the sale, the insider now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $605.82, for a total transaction of $3,786,375.00. Following the completion of the sale, the chief executive officer now directly owns 75,000 shares in the company, valued at $45,436,500. This represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,252 shares of company stock worth $26,096,928 in the last three months. 1.50% of the stock is owned by insiders.

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.