Tyler Technologies, Inc. (NYSE:TYL) CFO Sells $693,192.00 in Stock

Tyler Technologies, Inc. (NYSE:TYL - Get Free Report) CFO Brian K. Miller sold 1,200 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $577.66, for a total value of $693,192.00. Following the completion of the sale, the chief financial officer now directly owns 17,475 shares of the company's stock, valued at approximately $10,094,608.50. This trade represents a 6.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Tyler Technologies Stock Performance

Shares of NYSE:TYL traded down $2.84 during midday trading on Wednesday, hitting $583.69. The company's stock had a trading volume of 235,027 shares, compared to its average volume of 264,291. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. The stock's 50 day simple moving average is $561.07 and its 200 day simple moving average is $585.55. The stock has a market capitalization of $25.17 billion, a price-to-earnings ratio of 96.32, a PEG ratio of 4.93 and a beta of 0.84. Tyler Technologies, Inc. has a fifty-two week low of $458.50 and a fifty-two week high of $661.31.

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TYL. DA Davidson decreased their target price on shares of Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Needham & Company LLC reissued a "buy" rating and set a $750.00 price objective on shares of Tyler Technologies in a research report on Tuesday, May 13th. Wells Fargo & Company dropped their target price on Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Robert W. Baird cut their price target on Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Finally, Barclays lowered their price target on Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Tyler Technologies presently has an average rating of "Moderate Buy" and an average target price of $680.50.

Hedge Funds Weigh In On Tyler Technologies

Large investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC lifted its stake in shares of Tyler Technologies by 2.3% in the fourth quarter. Integrated Wealth Concepts LLC now owns 786 shares of the technology company's stock valued at $453,000 after buying an additional 18 shares during the period. AdvisorNet Financial Inc raised its holdings in Tyler Technologies by 7.0% in the 1st quarter. AdvisorNet Financial Inc now owns 291 shares of the technology company's stock valued at $169,000 after acquiring an additional 19 shares in the last quarter. Leelyn Smith LLC lifted its position in shares of Tyler Technologies by 0.9% in the 1st quarter. Leelyn Smith LLC now owns 2,122 shares of the technology company's stock worth $1,234,000 after acquiring an additional 19 shares during the period. Oregon Public Employees Retirement Fund lifted its position in shares of Tyler Technologies by 0.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,668 shares of the technology company's stock worth $2,115,000 after acquiring an additional 20 shares during the period. Finally, Kensington Investment Counsel LLC grew its holdings in shares of Tyler Technologies by 0.8% during the 4th quarter. Kensington Investment Counsel LLC now owns 2,496 shares of the technology company's stock worth $1,439,000 after purchasing an additional 20 shares in the last quarter. 93.30% of the stock is currently owned by institutional investors and hedge funds.

About Tyler Technologies

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.