Brian K. Miller Sells 1,200 Shares of Tyler Technologies, Inc. (NYSE:TYL) Stock

Tyler Technologies, Inc. (NYSE:TYL - Get Free Report) CFO Brian K. Miller sold 1,200 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $580.72, for a total value of $696,864.00. Following the sale, the chief financial officer now owns 13,772 shares of the company's stock, valued at approximately $7,997,675.84. This trade represents a 8.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Tyler Technologies Stock Performance

NYSE TYL traded down $7.82 during trading hours on Tuesday, reaching $581.32. The company's stock had a trading volume of 246,718 shares, compared to its average volume of 263,962. The company's 50-day moving average is $565.87 and its two-hundred day moving average is $583.97. Tyler Technologies, Inc. has a fifty-two week low of $463.84 and a fifty-two week high of $661.31. The stock has a market cap of $25.07 billion, a PE ratio of 87.55, a PEG ratio of 4.60 and a beta of 0.84.

Tyler Technologies (NYSE:TYL - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share for the quarter, topping analysts' consensus estimates of $2.56 by $0.22. The company had revenue of $562.43 million during the quarter, compared to analysts' expectations of $556.45 million. Tyler Technologies had a return on equity of 10.29% and a net margin of 13.23%. The business's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.20 earnings per share. Equities analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TYL. Sierra Ocean LLC acquired a new stake in shares of Tyler Technologies in the fourth quarter worth $32,000. Sanctuary Advisors LLC increased its holdings in Tyler Technologies by 3.6% in the 4th quarter. Sanctuary Advisors LLC now owns 14,215 shares of the technology company's stock valued at $8,513,000 after purchasing an additional 499 shares in the last quarter. CIBC Asset Management Inc raised its position in Tyler Technologies by 4.7% in the fourth quarter. CIBC Asset Management Inc now owns 6,500 shares of the technology company's stock valued at $3,748,000 after purchasing an additional 289 shares during the period. Handelsbanken Fonder AB raised its position in Tyler Technologies by 40.0% in the fourth quarter. Handelsbanken Fonder AB now owns 199,051 shares of the technology company's stock valued at $114,781,000 after purchasing an additional 56,900 shares during the period. Finally, TCW Group Inc. acquired a new position in shares of Tyler Technologies during the fourth quarter worth about $36,099,000. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TYL shares. Cantor Fitzgerald began coverage on shares of Tyler Technologies in a research note on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 target price on the stock. Wall Street Zen downgraded Tyler Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Needham & Company LLC reissued a "buy" rating and set a $750.00 price objective on shares of Tyler Technologies in a research note on Tuesday, May 13th. The Goldman Sachs Group raised their target price on Tyler Technologies from $660.00 to $728.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. Finally, DA Davidson reduced their price target on Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $680.50.

Tyler Technologies Company 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.

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