Insider Selling: Tyler Technologies, Inc. (NYSE:TYL) CFO Sells 1,200 Shares of Stock

Tyler Technologies, Inc. (NYSE:TYL - Get Free Report) CFO Brian K. Miller sold 1,200 shares of Tyler Technologies stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $585.92, for a total transaction of $703,104.00. Following the transaction, the chief financial officer now directly owns 16,016 shares in the company, valued at $9,384,094.72. This trade represents a 6.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Tyler Technologies Stock Down 1.1%

TYL stock traded down $6.49 during trading on Friday, hitting $581.25. 150,137 shares of the company's stock were exchanged, compared to its average volume of 263,257. The stock has a market capitalization of $25.07 billion, a price-to-earnings ratio of 95.93, a PEG ratio of 4.93 and a beta of 0.84. Tyler Technologies, Inc. has a 52-week low of $458.50 and a 52-week high of $661.31. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The business has a 50-day moving average price of $563.00 and a two-hundred day moving average price of $585.29.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.22. The business had revenue of $562.43 million during the quarter, compared to the consensus estimate of $556.45 million. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The company's revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.20 earnings per share. As a group, equities research analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Institutional Trading of Tyler Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Tyler Technologies during the fourth quarter worth $528,465,000. GAMMA Investing LLC lifted its position in Tyler Technologies by 57,694.7% in the first quarter. GAMMA Investing LLC now owns 878,480 shares of the technology company's stock valued at $510,739,000 after purchasing an additional 876,960 shares during the period. Van ECK Associates Corp boosted its holdings in Tyler Technologies by 1,991.8% in the 4th quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company's stock valued at $317,486,000 after purchasing an additional 524,259 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Tyler Technologies during the 4th quarter worth approximately $159,947,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Tyler Technologies by 17,308.3% in the 1st quarter. Jones Financial Companies Lllp now owns 227,875 shares of the technology company's stock valued at $132,484,000 after buying an additional 226,566 shares during the period. 93.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TYL shares. The Goldman Sachs Group upped their price objective on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. DA Davidson dropped their target price on Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Truist Financial reissued a "buy" rating and issued a $775.00 price objective (up previously from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. Barclays reduced their target price on shares of Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Finally, Wells Fargo & Company dropped their price target on shares of Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.