Pictet Asset Management SA Increases Position in Tyler Technologies, Inc. (NYSE:TYL)

Posted by Defense World Staff on Aug 24th, 2023

Pictet Asset Management SA raised its position in Tyler Technologies, Inc. (NYSE:TYL – Free Report) by 4.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,071 shares of the technology company’s stock after purchasing an additional 741 shares during the quarter. Pictet Asset Management SA’s holdings in Tyler Technologies were worth $6,054,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Analysts LLC increased its position in shares of Tyler Technologies by 1.0% during the first quarter. Capital Analysts LLC now owns 2,995 shares of the technology company’s stock worth $1,062,000 after acquiring an additional 30 shares during the period. Czech National Bank increased its position in shares of Tyler Technologies by 0.6% during the first quarter. Czech National Bank now owns 4,905 shares of the technology company’s stock worth $1,740,000 after acquiring an additional 31 shares during the period. Torray Investment Partners LLC increased its position in shares of Tyler Technologies by 0.3% during the first quarter. Torray Investment Partners LLC now owns 10,243 shares of the technology company’s stock worth $3,633,000 after acquiring an additional 31 shares during the period. Texas Permanent School Fund increased its position in shares of Tyler Technologies by 0.6% during the fourth quarter. Texas Permanent School Fund now owns 5,916 shares of the technology company’s stock worth $1,907,000 after acquiring an additional 33 shares during the period. Finally, First Trust Direct Indexing L.P. increased its position in shares of Tyler Technologies by 3.4% during the first quarter. First Trust Direct Indexing L.P. now owns 1,022 shares of the technology company’s stock worth $362,000 after acquiring an additional 34 shares during the period. Hedge funds and other institutional investors own 90.00% of the company’s stock.

Tyler Technologies Stock Performance

NYSE TYL opened at $380.32 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 1.00. Tyler Technologies, Inc. has a 1 year low of $281.11 and a 1 year high of $426.83. The company has a market capitalization of $16.00 billion, a PE ratio of 98.27 and a beta of 0.82. The company has a fifty day moving average of $397.70 and a two-hundred day moving average of $372.39.

Tyler Technologies (NYSE:TYL – Get Free Report) last announced its earnings results on Wednesday, July 26th. The technology company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.17. Tyler Technologies had a net margin of 8.64% and a return on equity of 8.94%. The business had revenue of $504.28 million during the quarter, compared to the consensus estimate of $490.65 million. As a group, analysts expect that Tyler Technologies, Inc. will post 5.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

TYL has been the topic of a number of recent research reports. Piper Sandler upped their price objective on Tyler Technologies from $450.00 to $465.00 in a research report on Friday, April 28th. Evercore ISI increased their target price on Tyler Technologies from $375.00 to $400.00 and gave the company an “inline” rating in a report on Friday, April 28th. Barclays increased their target price on Tyler Technologies from $400.00 to $425.00 and gave the company an “equal weight” rating in a report on Friday, July 14th. Robert W. Baird increased their target price on Tyler Technologies from $470.00 to $475.00 in a report on Friday, July 28th. Finally, Wells Fargo & Company increased their target price on Tyler Technologies from $410.00 to $425.00 and gave the company an “overweight” rating in a report on Friday, April 28th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Tyler Technologies currently has an average rating of “Moderate Buy” and an average price target of $440.29.

Check Out Our Latest Analysis on Tyler Technologies

Insider Transactions at Tyler Technologies

In other news, Chairman John S. Marr, Jr. sold 7,000 shares of the stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $392.78, for a total transaction of $2,749,460.00. Following the completion of the sale, the chairman now owns 39,138 shares in the company, valued at $15,372,623.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Mary L. Landrieu sold 325 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $388.44, for a total value of $126,243.00. Following the completion of the sale, the director now owns 1,786 shares in the company, valued at $693,753.84. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman John S. Marr, Jr. sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $392.78, for a total transaction of $2,749,460.00. Following the completion of the sale, the chairman now owns 39,138 shares of the company’s stock, valued at approximately $15,372,623.64. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

About Tyler Technologies

(Free Report)

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 financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; student information and transportation solutions for K-12 schools; and financial management systems.