Point72 Asia Singapore Pte. Ltd. Invests $1.82 Million in Tyler Technologies, Inc. (NYSE:TYL)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Tyler Technologies, Inc. (NYSE:TYL) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,125 shares of the technology company’s stock, valued at approximately $1,824,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Waldron Private Wealth LLC raised its stake in Tyler Technologies by 3.5% during the second quarter. Waldron Private Wealth LLC now owns 716 shares of the technology company’s stock worth $360,000 after purchasing an additional 24 shares during the period. FWG Holdings LLC grew its holdings in shares of Tyler Technologies by 3.1% in the third quarter. FWG Holdings LLC now owns 910 shares of the technology company’s stock valued at $551,000 after purchasing an additional 27 shares in the last quarter. George Kaiser Family Foundation grew its holdings in shares of Tyler Technologies by 0.7% in the second quarter. George Kaiser Family Foundation now owns 4,177 shares of the technology company’s stock valued at $2,100,000 after purchasing an additional 29 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in Tyler Technologies by 2.3% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,377 shares of the technology company’s stock worth $804,000 after acquiring an additional 31 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in Tyler Technologies by 2.4% during the 3rd quarter. UMB Bank n.a. now owns 1,354 shares of the technology company’s stock worth $790,000 after acquiring an additional 32 shares in the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

Tyler Technologies Stock Performance

Shares of NYSE TYL opened at $629.17 on Monday. The company has a market cap of $26.93 billion, a PE ratio of 114.81, a price-to-earnings-growth ratio of 5.70 and a beta of 0.77. Tyler Technologies, Inc. has a 12 month low of $397.80 and a 12 month high of $637.53. 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 50-day simple moving average of $600.16 and a 200-day simple moving average of $557.28.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $547.34 million. During the same period last year, the company earned $1.66 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. On average, equities analysts anticipate that Tyler Technologies, Inc. will post 7.36 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Tyler Technologies from a “hold” rating to a “buy” rating in a report on Thursday. DA Davidson raised their target price on shares of Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Truist Financial reiterated a “buy” rating and issued a $685.00 price target (up previously from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Robert W. Baird increased their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, JMP Securities increased their price target on shares of Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $642.62.

Insider Buying and Selling

In related news, CFO Brian K. Miller sold 3,000 shares of Tyler Technologies stock in a transaction 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 sale, the chief financial officer now owns 11,950 shares in the company, valued at approximately $7,202,504. The trade was a 20.07 % 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, insider John S. Marr, Jr. sold 12,000 shares of Tyler Technologies stock in a transaction on Monday, November 25th. The stock was sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the completion of the sale, the insider now owns 6,983 shares of the company’s stock, valued at approximately $4,285,187.78. This trade represents a 63.21 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,100 shares of company stock valued at $22,309,090. Insiders own 2.20% of the company’s stock.

Tyler Technologies 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.