H Lynn Moore, Jr. Sells 5,250 Shares of Tyler Technologies, Inc. (NYSE:TYL) Stock

Key Points

• CEO H Lynn Moore, Jr. sold 5,250 shares of Tyler Technologies stock at an average price of $580.77, resulting in a transaction totaling approximately $3.05 million.
• Shares of Tyler Technologies (NYSE:TYL) increased by 3.5% to $602.26, with a market cap of $26.05 billion and a P/E ratio of 86.04.
• The company reported $2.91 earnings per share for the last quarter, exceeding estimates, while revenue increased 10.2% year-over-year despite falling slightly short of expectations.

Tyler Technologies, Inc. (NYSE:TYL - Get Free Report) CEO H Lynn Moore, Jr. sold 5,250 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $580.77, for a total transaction of $3,049,042.50. Following the sale, the chief executive officer directly owned 81,775 shares in the company, valued at approximately $47,492,466.75. The trade was a 6.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Tyler Technologies Stock Up 3.5%

Shares of TYL stock traded up $20.61 on Monday, reaching $602.26. 337,178 shares of the stock were exchanged, compared to its average volume of 291,731. Tyler Technologies, Inc. has a 1-year low of $513.52 and a 1-year high of $661.31. The firm has a 50 day moving average of $573.84 and a two-hundred day moving average of $578.46. The stock has a market cap of $26.05 billion, a P/E ratio of 86.04, a price-to-earnings-growth ratio of 4.50 and a beta of 0.85.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its earnings results on Wednesday, July 30th. The technology company reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.78 by $0.13. The company had revenue of $584.01 million during the quarter, compared to the consensus estimate of $587.59 million. Tyler Technologies had a return on equity of 10.34% and a net margin of 13.66%. The company's revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm earned $2.40 earnings per share. On average, equities research analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Tyler Technologies

A number of hedge funds have recently added to or reduced their stakes in the business. Retirement Wealth Solutions LLC bought a new position in shares of Tyler Technologies during the first quarter worth about $26,000. Mowery & Schoenfeld Wealth Management LLC raised its position in Tyler Technologies by 820.0% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company's stock worth $27,000 after acquiring an additional 41 shares in the last quarter. Generali Asset Management SPA SGR acquired a new position in Tyler Technologies in the second quarter worth approximately $30,000. Cornerstone Planning Group LLC raised its position in shares of Tyler Technologies by 221.1% during the first quarter. Cornerstone Planning Group LLC now owns 61 shares of the technology company's stock worth $35,000 after purchasing an additional 42 shares during the period. Finally, Zions Bancorporation National Association UT acquired a new stake in Tyler Technologies during the 1st quarter worth about $38,000. Institutional investors and hedge funds own 93.30% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Wall Street Zen cut shares of Tyler Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Piper Sandler decreased their price target on shares of Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. DA Davidson dropped their target price on Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. Cantor Fitzgerald initiated coverage on Tyler Technologies in a report on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 price target for the company. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $750.00 price objective on shares of Tyler Technologies in a report on Tuesday, May 13th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $686.91.

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.

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