Tyler Technologies (NYSE:TYL) COO Jeffrey David Puckett Sells 10,000 Shares of Company Stock

Key Points

• COO Jeffrey Puckett sold 10,000 Tyler Technologies shares at an average $419.69, for about $4.20 million; the sale reduced his holdings by 56.18% to 7,800 shares.
• Tyler reported quarterly EPS of $3.52, topping the $3.48 consensus, while revenue of $647.57 million fell short of expectations despite rising 8.7% year over year.
• Analysts’ average rating was Moderate Buy, with an average price target of $440.88; shares were trading at $417.49 in the article.

Tyler Technologies, Inc. (NYSE:TYL - Get Free Report) COO Jeffrey Puckett sold 10,000 shares of the company's stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $419.69, for a total value of $4,196,900.00. Following the completion of the transaction, the chief operating officer owned 7,800 shares of the company's stock, valued at $3,273,582. This trade represents a 56.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Jeffrey David Puckett also recently made the following trade(s):

• On Monday, August 24th, Jeffrey Puckett sold 8,500 shares of Tyler Technologies stock. The stock was sold at an average price of $356.44, for a total value of $3,029,740.00.

Tyler Technologies Stock Performance

TYL stock traded down $12.88 during midday trading on Friday, reaching $417.49. 398,286 shares of the company's stock traded hands, compared to its average volume of 758,044. The company has a 50-day moving average price of $356.96 and a two-hundred day moving average price of $336.91. Tyler Technologies, Inc. has a 52 week low of $270.71 and a 52 week high of $481.57. The firm has a market capitalization of $16.60 billion, a PE ratio of 52.58, a price-to-earnings-growth ratio of 2.79 and a beta of 0.74. 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 released its quarterly earnings results on Wednesday, October 28th. The technology company reported $3.52 earnings per share for the quarter, beating the consensus estimate of $3.48 by $0.04. The firm had revenue of $647.57 million for 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%. The company's revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.91 EPS. As a group, equities analysts anticipate that Tyler Technologies, Inc. will post 10.11 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. American Capital Management Inc. grew its stake in shares of Tyler Technologies by 348.9% in the first quarter. American Capital Management Inc. now owns 98,942 shares of the technology company's stock worth $33,876,000 after purchasing an additional 76,903 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of Tyler Technologies during the 1st quarter worth $2,739,000. Bank of America Corp DE acquired a new stake in shares of Tyler Technologies during the second quarter worth $116,831,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Tyler Technologies by 13.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 400,775 shares of the technology company's stock worth $117,211,000 after purchasing an additional 48,832 shares during the period. Finally, Corient Private Wealth LP purchased a new stake in shares of Tyler Technologies during the second quarter valued at $838,000. 93.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

TYL has been the topic of a number of recent research reports. Needham & Company LLC upped their price objective on shares of Tyler Technologies from $400.00 to $500.00 and gave the stock a "buy" rating in a report on Tuesday, October 27th. UBS Group set a $395.00 price objective on shares of Tyler Technologies in a research report on Saturday, August 1st. Zacks Research downgraded shares of Tyler Technologies from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 2nd. Wells Fargo & Company raised their price objective on shares of Tyler Technologies from $400.00 to $430.00 and gave the company an "overweight" rating in a research report on Friday, October 30th. Finally, The Goldman Sachs Group increased their price objective on shares of Tyler Technologies from $345.00 to $385.00 and gave the company a "neutral" rating in a report on Tuesday. One investment 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 company's stock. According to MarketBeat, Tyler Technologies presently has an average rating of "Moderate Buy" and an average price target 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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