Insider Selling: Tyler Technologies (NYSE:TYL) CEO Sells $3,931,700.00 in Stock

Key Points

• Tyler Technologies CEO H. Moore Jr. sold 10,000 shares at an average price of $393.17, generating $3.93 million and reducing his direct stake by 9.06% to 100,392 shares.
• The company exceeded quarterly EPS expectations, reporting $3.52 versus the $3.48 consensus estimate, while revenue rose 8.7% year over year to $647.57 million, slightly below forecasts.
• Analyst sentiment remains favorable, with an average “Moderate Buy” rating and a $440.88 target price; shares recently traded at $407.51, while institutional investors own 93.3% of the stock.

Tyler Technologies, Inc. (NYSE:TYL - Get Free Report) CEO H. Moore, Jr. sold 10,000 shares of the stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $393.17, for a total transaction of $3,931,700.00. Following the completion of the sale, the chief executive officer directly owned 100,392 shares of the company's stock, valued at $39,471,122.64. This trade represents a 9.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Tyler Technologies Stock Performance

NYSE:TYL traded up $3.57 during trading hours on Tuesday, reaching $407.51. 393,907 shares of the stock were exchanged, compared to its average volume of 751,663. The stock has a market capitalization of $16.20 billion, a P/E ratio of 51.26, a P/E/G ratio of 2.38 and a beta of 0.85. The firm has a 50 day simple moving average of $352.96 and a 200-day simple moving average of $337.30. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.46. Tyler Technologies, Inc. has a 52 week low of $270.71 and a 52 week high of $481.57.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The technology company reported $3.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.48 by $0.04. The business had revenue of $647.57 million for the quarter, compared to the consensus estimate of $651.38 million. Tyler Technologies had a return on equity of 11.64% and a net margin of 13.51%. The business's revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $2.91 EPS. As a group, sell-side analysts forecast that Tyler Technologies, Inc. will post 10.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. The Goldman Sachs Group raised their target price on Tyler Technologies from $345.00 to $385.00 and gave the company a "neutral" rating in a research note on Tuesday. DA Davidson reaffirmed a "buy" rating and set a $460.00 price objective on shares of Tyler Technologies in a research report on Tuesday, October 27th. BTIG Research increased their price objective on shares of Tyler Technologies from $400.00 to $430.00 and gave the stock a "buy" rating in a research note on Friday. TD Cowen raised their price objective on shares of Tyler Technologies from $400.00 to $450.00 and gave the company a "buy" rating in a report on Monday, October 26th. Finally, Zacks Research lowered Tyler Technologies from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $440.88.

Institutional Investors Weigh In On Tyler Technologies

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of Tyler Technologies during the second quarter worth approximately $1,129,890,000. Principal Financial Group Inc. lifted its holdings in Tyler Technologies by 20.1% in the first quarter. Principal Financial Group Inc. now owns 1,745,625 shares of the technology company's stock worth $597,681,000 after buying an additional 291,564 shares during the period. Bank of America Corp DE raised its position in shares of Tyler Technologies by 10.5% in the 1st quarter. Bank of America Corp DE now owns 405,095 shares of the technology company's stock worth $138,696,000 after acquiring an additional 38,508 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Tyler Technologies by 13.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 400,775 shares of the technology company's stock valued at $117,211,000 after purchasing an additional 48,832 shares during the period. Finally, Deutsche Bank AG purchased a new position in shares of Tyler Technologies in the 2nd quarter valued at approximately $88,645,000. Hedge funds and other institutional investors own 93.30% of the company's stock.

Tyler Technologies Company Profile

Tyler Technologies, Inc provides integrated software and technology services to public-sector organizations. Its customers include municipalities, counties, states, courts, school districts, public safety agencies, and other government entities. The company's solutions are designed to help public organizations manage operations, improve service delivery, and engage with residents and constituents.

Tyler's product portfolio includes enterprise resource planning and financial management software, property tax and appraisal systems, court and justice solutions, public safety and emergency communications platforms, permitting and licensing tools, and software for schools and elections.

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