Insider Selling: Tyler Technologies (NYSE:TYL) Director Sells 680 Shares of Company Stock

Key Points

• Director Daniel Pope sold 680 Tyler Technologies shares at an average price of $407.56, worth about $277,141. The sale reduced his direct ownership by 20.46%, leaving him with 2,643 shares.
• Tyler reported quarterly EPS of $3.52, beating consensus of $3.48, while revenue of $647.57 million fell short of estimates. Revenue grew 8.7% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $440.88; shares traded at $423.62 in Wednesday’s mid-day session.

Tyler Technologies, Inc. (NYSE:TYL - Get Free Report) Director Daniel Pope sold 680 shares of the stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $407.56, for a total value of $277,140.80. Following the sale, the director directly owned 2,643 shares in the company, valued at approximately $1,077,181.08. This trade represents a 20.46% 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 Price Performance

Shares of NYSE TYL traded up $19.38 during mid-day trading on Wednesday, reaching $423.62. The company had a trading volume of 1,056,297 shares, compared to its average volume of 756,767. The firm has a market cap of $16.84 billion, a price-to-earnings ratio of 53.35, a PEG ratio of 2.66 and a beta of 0.74. The business's 50-day simple moving average is $353.93 and its 200 day simple moving average is $337.07. Tyler Technologies, Inc. has a one year low of $270.71 and a one year high of $481.57. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.33 and a current ratio of 1.33.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The technology company reported $3.52 EPS for the quarter, topping analysts' consensus estimates of $3.48 by $0.04. The company had revenue of $647.57 million during the quarter, compared to analysts' expectations of $651.38 million. Tyler Technologies had a return on equity of 12.21% and a net margin of 13.51%. Tyler Technologies's revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.91 EPS. On average, research analysts predict that Tyler Technologies, Inc. will post 10.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Tyler Technologies in the 2nd quarter worth approximately $1,129,890,000. Bank of America Corp DE bought a new position in Tyler Technologies during the 2nd quarter valued at approximately $116,831,000. Deutsche Bank AG purchased a new position in Tyler Technologies during the second quarter valued at $88,645,000. Principal Financial Group Inc. raised its stake in Tyler Technologies by 20.1% during the first quarter. Principal Financial Group Inc. now owns 1,745,625 shares of the technology company's stock valued at $597,681,000 after buying an additional 291,564 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Tyler Technologies in the second quarter worth $72,426,000. 93.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on TYL. Guggenheim began coverage on Tyler Technologies in a research note on Wednesday, July 22nd. They set a "buy" rating and a $440.00 price objective on the stock. Wells Fargo & Company upped their price target on Tyler Technologies from $400.00 to $430.00 and gave the company an "overweight" rating in a research report on Friday, October 30th. UBS Group set a $395.00 price objective on shares of Tyler Technologies in a report on Saturday, August 1st. The Goldman Sachs Group lifted their target price on Tyler Technologies from $345.00 to $385.00 and gave the company a "neutral" rating in a report on Tuesday. Finally, DA Davidson reissued a "buy" rating and issued a $460.00 price target on shares of Tyler Technologies in a report on Tuesday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Tyler Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $440.88.

About Tyler Technologies

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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