Amundi has expanded its investment in Tyler Technologies, Inc. (NYSE: TYL) by acquiring an additional 11,573 shares during the second quarter, boosting its total holdings by 9%. Following this transaction, Amundi now owns 140,455 shares in the technology firm, valued at approximately $81,897,000, according to a recent filing with the Securities and Exchange Commission.
This increase reflects a broader trend among institutional investors, as several firms have adjusted their stakes in Tyler Technologies. Atria Wealth Solutions Inc. reported a 12.7% increase in its holdings during the first quarter, bringing its total to 2,229 shares with a value of $1,296,000. Similarly, Deutsche Bank AG raised its position by 5.6%, now holding 169,853 shares valued at $98,751,000, after acquiring an additional 8,977 shares.
Notably, Citigroup Inc. and National Bank of Canada FI also expanded their investments. Citigroup increased its stake by 12.5%, while National Bank of Canada FI saw a substantial rise of 61.2%. Together, these movements indicate a strong interest in Tyler Technologies among institutional investors, with 93.30% of the stock currently held by such entities.
Tyler Technologies Stock Performance and Insider Transactions
As of Tuesday, shares of Tyler Technologies opened at $459.71, reflecting a market capitalization of $19.78 billion. The company exhibits a price-to-earnings (P/E) ratio of 63.94 and a beta of 0.91. Over the past year, the stock has fluctuated between a low of $450.00 and a high of $661.31.
In related news, Director Glenn A. Carter recently sold 750 shares on September 15, 2023, at an average price of $538.30, totaling approximately $403,725.00. This sale reduced his holdings to 3,172 shares, valued at around $1,707,487.60, marking a 19.12% decrease in his position. Similarly, Chief Financial Officer Brian K. Miller sold 1,000 shares on November 25, 2023, at an average price of $469.08, resulting in a transaction value of $469,080.00. After this sale, Miller’s holdings decreased by 7.26% to 12,781 shares, valued at $5,995,311.48.
Analyst Ratings and Growth Potential
Tyler Technologies has attracted attention from various analysts, with recent reports reflecting a mix of sentiments. DA Davidson lowered its price target from $560.00 to $540.00, assigning a “neutral” rating. In contrast, Robert W. Baird set a more optimistic target of $660.00. Oppenheimer reaffirmed an “outperform” rating with a target of $600.00, while Weiss Ratings maintained a “hold” rating.
Currently, nine investment analysts have given the stock a Buy rating, with four assigning a Hold rating. According to data from MarketBeat, Tyler Technologies has a consensus rating of “Moderate Buy” and an average target price of $660.09.
Tyler Technologies, Inc. specializes in providing integrated information management solutions primarily for the public sector. The company operates through two segments: Enterprise Software and Platform Technologies. Its offerings include cybersecurity solutions for government agencies, data insights, digital services, and payment solutions, among others.
In summary, Amundi’s recent acquisition of shares in Tyler Technologies highlights a growing institutional interest. As market dynamics continue to evolve, analysts remain optimistic about the company’s future performance, underscoring its potential for continued growth in the technology sector.
