Insider Selling: Tyler Technologies, Inc. (NYSE:TYL) Insider Sells 375 Shares of Stock

Tyler Technologies, Inc. (NYSE:TYL - Get Free Report) insider Abigail Marshall Diaz-Pedrosa sold 375 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $573.60, for a total value of $215,100.00. Following the transaction, the insider now directly owns 247 shares in the company, valued at approximately $141,679.20. This represents a 60.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Tyler Technologies Stock Up 1.2%

NYSE:TYL traded up $7.07 during trading hours on Tuesday, reaching $587.24. The company's stock had a trading volume of 259,008 shares, compared to its average volume of 264,408. The company has a market capitalization of $25.32 billion, a P/E ratio of 96.90, a price-to-earnings-growth ratio of 4.93 and a beta of 0.84. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. Tyler Technologies, Inc. has a 12 month low of $458.50 and a 12 month high of $661.31. The stock has a 50 day moving average price of $561.07 and a two-hundred day moving average price of $585.55.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TYL shares. Wells Fargo & Company lowered their target price 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. Robert W. Baird lowered their price objective on shares of Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Wall Street Zen downgraded shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Needham & Company LLC reaffirmed a "buy" rating and set a $750.00 price target on shares of Tyler Technologies in a research note on Tuesday, May 13th. Finally, Truist Financial reiterated a "buy" rating and issued a $775.00 price target (up previously from $685.00) on shares of Tyler Technologies in a report on Friday, February 14th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $680.50.

Institutional Investors Weigh In On Tyler Technologies

Several institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in Tyler Technologies by 148.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company's stock valued at $269,369,000 after buying an additional 275,511 shares in the last quarter. DAVENPORT & Co LLC grew its stake in shares of Tyler Technologies by 15.8% during the fourth quarter. DAVENPORT & Co LLC now owns 614 shares of the technology company's stock worth $354,000 after acquiring an additional 84 shares during the last quarter. abrdn plc raised its position in shares of Tyler Technologies by 4.0% in the 4th quarter. abrdn plc now owns 12,837 shares of the technology company's stock valued at $7,393,000 after purchasing an additional 497 shares during the last quarter. Choreo LLC boosted its stake in Tyler Technologies by 3.9% in the 4th quarter. Choreo LLC now owns 647 shares of the technology company's stock worth $374,000 after purchasing an additional 24 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Tyler Technologies by 11.8% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 107,106 shares of the technology company's stock worth $61,762,000 after buying an additional 11,317 shares during the last quarter. 93.30% of the stock is currently owned by institutional investors and hedge funds.

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.