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

Korea Investment CORP grew its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 86.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 23,554 shares of the technology company’s stock after acquiring an additional 10,948 shares during the period. Korea Investment CORP’s holdings in Tyler Technologies were worth $12,323,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TYL. Root Financial Partners LLC bought a new stake in Tyler Technologies in the third quarter valued at about $28,000. Twin Peaks Wealth Advisors LLC acquired a new position in Tyler Technologies in the second quarter worth about $32,000. Advisors Asset Management Inc. bought a new position in Tyler Technologies during the first quarter worth about $38,000. Geneos Wealth Management Inc. boosted its holdings in Tyler Technologies by 137.9% during 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 in the last quarter. Finally, Quent Capital LLC acquired a new stake in Tyler Technologies during the third quarter valued at approximately $49,000. 93.30% of the stock is owned by institutional investors.

Tyler Technologies Price Performance

Shares of Tyler Technologies stock opened at $348.26 on Thursday. The firm has a 50 day simple moving average of $381.91 and a 200 day simple moving average of $456.08. Tyler Technologies, Inc. has a fifty-two week low of $283.71 and a fifty-two week high of $621.34. The firm has a market cap of $14.97 billion, a P/E ratio of 48.37, a P/E/G ratio of 2.38 and a beta of 0.90.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data 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). The firm had revenue of $575.18 million for the quarter, compared to analyst estimates of $591.09 million. Tyler Technologies had a return on equity of 10.42% and a net margin of 13.53%.The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.43 EPS. On average, sell-side analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on TYL shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Tyler Technologies in a research note on Friday, January 9th. Needham & Company LLC reiterated a “buy” rating and set a $750.00 target price on shares of Tyler Technologies in a research report on Tuesday, February 3rd. Barclays cut their price target on shares of Tyler Technologies from $715.00 to $410.00 and set an “overweight” rating for the company in a report on Friday, February 13th. BTIG Research reduced their price target on shares of Tyler Technologies from $560.00 to $470.00 and set a “buy” rating on the stock in a research report on Monday, February 9th. Finally, DA Davidson reaffirmed a “buy” rating and set a $460.00 price objective on shares of Tyler Technologies in a research note on Tuesday, February 17th. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Tyler Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $467.54.

Insider Buying and Selling at Tyler Technologies

In other news, Director Andrew D. Teed purchased 1,600 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were acquired at an average price of $309.91 per share, for a total transaction of $495,856.00. Following the completion of the acquisition, the director directly owned 5,118 shares in the company, valued at approximately $1,586,119.38. The trade was a 45.48% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jeffrey David Puckett sold 5,174 shares of Tyler Technologies stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $369.93, for a total value of $1,914,017.82. Following the completion of the sale, the chief operating officer owned 7,754 shares of the company’s stock, valued at approximately $2,868,437.22. The trade was a 40.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 8,174 shares of company stock valued at $3,228,243 over the last ninety days. Company insiders own 1.10% of the company’s stock.

About Tyler Technologies

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.