Tyler Technologies, Inc. (NYSE:TYL) Short Interest Update

Key Points

• Tyler Technologies experienced a significant increase in short interest, rising 2,108.5% from June 30th, with a total of 1,250,000 shares shorted as of July 15th.
• Insider trading activity showed CEO H Lynn Moore, Jr. sold 5,250 shares for over $3 million, reflecting a 6.03% decrease in his stake.
• Tyler Technologies shares are currently trading around $581.02, with a market cap of $25.05 billion and a consensus analyst rating of "Moderate Buy."

Tyler Technologies, Inc. (NYSE:TYL - Get Free Report) was the recipient of a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 1,250,000 shares, anincreaseof2,108.5% from the June 30th total of 56,600 shares. Based on an average trading volume of 292,000 shares, the days-to-cover ratio is currently 4.3 days. Based on an average trading volume of 292,000 shares, the days-to-cover ratio is currently 4.3 days.

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 5,250 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $585.18, for a total transaction of $3,072,195.00. Following the completion of the transaction, the chief executive officer owned 81,775 shares of the company's stock, valued at $47,853,094.50. This represents a 6.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John S. Marr, Jr. sold 5,000 shares of the company's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $558.86, for a total value of $2,794,300.00. Following the transaction, the insider directly owned 6,983 shares of the company's stock, valued at approximately $3,902,519.38. This trade represents a 41.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,135 shares of company stock worth $14,976,480. Insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TYL. Retirement Wealth Solutions LLC acquired a new position in Tyler Technologies in the first quarter valued at about $26,000. Mowery & Schoenfeld Wealth Management LLC raised its stake in Tyler Technologies by 820.0% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company's stock valued at $27,000 after purchasing an additional 41 shares in the last quarter. Generali Asset Management SPA SGR acquired a new position in Tyler Technologies in the second quarter valued at about $30,000. Brown Brothers Harriman & Co. raised its stake in Tyler Technologies by 300.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company's stock valued at $32,000 after purchasing an additional 42 shares in the last quarter. Finally, Cornerstone Planning Group LLC raised its stake in Tyler Technologies by 221.1% in the first quarter. Cornerstone Planning Group LLC now owns 61 shares of the technology company's stock valued at $35,000 after purchasing an additional 42 shares in the last quarter. Institutional investors and hedge funds own 93.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TYL shares. Wall Street Zen downgraded Tyler Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Piper Sandler cut their price objective on Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Barclays increased their price objective on Tyler Technologies from $695.00 to $715.00 and gave the company an "overweight" rating in a report on Thursday. Cantor Fitzgerald started coverage on Tyler Technologies in a report on Tuesday, June 3rd. They issued a "neutral" rating and a $600.00 price objective for the company. Finally, DA Davidson cut their price objective on Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating for the company in a report on Friday, April 25th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Tyler Technologies has a consensus rating of "Moderate Buy" and an average price target of $686.91.

Tyler Technologies Stock Down 0.6%

Shares of TYL traded down $3.54 during midday trading on Friday, reaching $581.02. 356,199 shares of the stock were exchanged, compared to its average volume of 289,652. Tyler Technologies has a twelve month low of $513.52 and a twelve month high of $661.31. The company has a market cap of $25.05 billion, a P/E ratio of 83.02, a PEG ratio of 4.33 and a beta of 0.84. The stock's 50 day simple moving average is $573.50 and its 200 day simple moving average is $578.30.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its earnings results on Wednesday, July 30th. The technology company reported $2.91 earnings per share for the quarter, topping analysts' consensus estimates of $2.78 by $0.13. Tyler Technologies had a return on equity of 10.52% and a net margin of 13.66%. The company had revenue of $584.01 million during the quarter, compared to the consensus estimate of $587.59 million. During the same quarter last year, the firm earned $2.40 earnings per share. The company's revenue was up 10.2% on a year-over-year basis. As a group, analysts predict that Tyler Technologies will post 8.52 earnings per share for the current year.

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.

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