Wellington Management Group LLP Acquires 11,235 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Wellington Management Group LLP grew its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 8.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 150,475 shares of the technology company’s stock after purchasing an additional 11,235 shares during the quarter. Wellington Management Group LLP’s holdings in Tyler Technologies were worth $87,835,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Independence Bank of Kentucky bought a new position in shares of Tyler Technologies in the 2nd quarter valued at about $25,000. Ashton Thomas Securities LLC bought a new position in Tyler Technologies during the 3rd quarter worth approximately $27,000. Blue Trust Inc. boosted its stake in Tyler Technologies by 329.4% during the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after acquiring an additional 56 shares during the last quarter. International Assets Investment Management LLC bought a new position in Tyler Technologies during the 2nd quarter worth approximately $61,000. Finally, Tobam bought a new position in Tyler Technologies during the 3rd quarter worth approximately $78,000. Institutional investors own 93.30% of the company’s stock.

Insiders Place Their Bets

In other news, CEO H Lynn Moore, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $576.62, for a total value of $2,883,100.00. Following the completion of the transaction, the chief executive officer now owns 75,000 shares of the company’s stock, valued at $43,246,500. This represents a 6.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Brian K. Miller sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $602.72, for a total value of $1,808,160.00. Following the completion of the transaction, the chief financial officer now directly owns 11,950 shares of the company’s stock, valued at $7,202,504. This represents a 20.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,500 shares of company stock valued at $24,835,988. 1.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on TYL shares. Truist Financial reissued a “buy” rating and set a $685.00 price objective (up previously from $600.00) on shares of Tyler Technologies in a research note on Friday, October 25th. The Goldman Sachs Group reissued a “buy” rating and set a $627.00 price objective on shares of Tyler Technologies in a research note on Friday, September 13th. Robert W. Baird lifted their price objective on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Needham & Company LLC raised their target price on shares of Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, StockNews.com downgraded shares of Tyler Technologies from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $642.62.

Tyler Technologies Trading Down 0.7 %

Shares of Tyler Technologies stock opened at $617.44 on Wednesday. The firm has a 50-day moving average of $606.33 and a 200-day moving average of $563.82. The stock has a market cap of $26.43 billion, a PE ratio of 112.67, a PEG ratio of 5.64 and a beta of 0.76. Tyler Technologies, Inc. has a 52-week low of $397.80 and a 52-week high of $638.56. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.09. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The business had revenue of $543.34 million during the quarter, compared to analysts’ expectations of $547.34 million. During the same quarter in the prior year, the business posted $1.66 earnings per share. Tyler Technologies’s revenue was up 9.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Tyler Technologies, Inc. will post 7.36 EPS for the current year.

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.