Massachusetts Financial Services Co. MA Has $527.79 Million Stock Holdings in Tyler Technologies, Inc. (NYSE:TYL)

Massachusetts Financial Services Co. MA grew its holdings in Tyler Technologies, Inc. (NYSE:TYL) by 4.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 904,175 shares of the technology company’s stock after acquiring an additional 36,066 shares during the period. Massachusetts Financial Services Co. MA owned 2.11% of Tyler Technologies worth $527,785,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of TYL. Covestor Ltd increased its position in Tyler Technologies by 153.6% during the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after buying an additional 43 shares during the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of Tyler Technologies by 143.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,794 shares of the technology company’s stock valued at $762,000 after acquiring an additional 1,058 shares in the last quarter. Bessemer Group Inc. lifted its holdings in Tyler Technologies by 39.4% in the 1st quarter. Bessemer Group Inc. now owns 6,840 shares of the technology company’s stock worth $2,906,000 after purchasing an additional 1,935 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Tyler Technologies by 2.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 17,040 shares of the technology company’s stock worth $7,237,000 after purchasing an additional 449 shares during the period. Finally, Natixis grew its holdings in Tyler Technologies by 114.0% during the first quarter. Natixis now owns 2,253 shares of the technology company’s stock valued at $958,000 after purchasing an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TYL shares. Wells Fargo & Company upped their price objective on shares of Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Piper Sandler raised their price target on Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. JMP Securities boosted their price objective on Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research report on Friday, October 25th. Evercore ISI upgraded Tyler Technologies to a “hold” rating in a research note on Friday, July 26th. Finally, StockNews.com downgraded Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $642.62.

Insiders Place Their Bets

In other news, Director Glenn A. Carter sold 3,350 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $582.57, for a total transaction of $1,951,609.50. Following the transaction, the director now directly owns 2,654 shares in the company, valued at approximately $1,546,140.78. This represents a 55.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian K. Miller sold 2,500 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $624.41, for a total transaction of $1,561,025.00. Following the sale, the chief financial officer now directly owns 11,950 shares in the company, valued at $7,461,699.50. This trade represents a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,600 shares of company stock valued at $16,412,595. 2.20% of the stock is currently owned by corporate insiders.

Tyler Technologies Trading Down 0.7 %

Shares of TYL stock opened at $597.21 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $25.56 billion, a P/E ratio of 108.98, a P/E/G ratio of 5.41 and a beta of 0.77. Tyler Technologies, Inc. has a 12-month low of $397.80 and a 12-month high of $631.43. The firm has a 50-day moving average price of $594.40 and a 200 day moving average price of $549.91.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. The company had revenue of $543.34 million during the quarter, compared to analysts’ expectations of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. Tyler Technologies’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.66 earnings per share. Research analysts forecast that Tyler Technologies, Inc. will post 7.39 earnings per share for the current fiscal 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.