Tyler Technologies (NYSE:TYL) COO Sells 5,174 Shares

Key Points

• Tyler COO Jeffrey David Puckett sold 5,174 shares on March 5 at an average price of $369.93 for about $1.914 million, trimming his position by 40.02% to 7,754 shares (≈$2.87M).
• The company missed expectations for the quarter with EPS of $2.64 vs. $2.71 expected and revenue of $575.18M vs. $591.09M, and the stock traded down about 1.8% to $367.66.
• Analysts remain generally positive with a consensus rating of “Moderate Buy”, 12 Buy and 3 Hold ratings, and an average price target of $467.54.

Tyler Technologies, Inc. (NYSE:TYL - Get Free Report) COO Jeffrey David Puckett sold 5,174 shares of Tyler Technologies stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $369.93, for a total value of $1,914,017.82. Following the transaction, the chief operating officer owned 7,754 shares in the company, valued at $2,868,437.22. This trade represents a 40.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Tyler Technologies Trading Down 1.8%

Shares of TYL stock traded down $6.93 on Monday, hitting $367.66. 242,764 shares of the stock were exchanged, compared to its average volume of 722,213. The firm has a market capitalization of $15.81 billion, a P/E ratio of 51.13, a price-to-earnings-growth ratio of 2.52 and a beta of 0.90. Tyler Technologies, Inc. has a fifty-two week low of $283.71 and a fifty-two week high of $621.34. The business has a 50-day moving average of $387.95 and a 200 day moving average of $459.68.

Tyler Technologies (NYSE:TYL - Get Free Report) last released its quarterly earnings results on Wednesday, February 11th. The technology company reported $2.64 earnings per share for the quarter, missing analysts' consensus estimates of $2.71 by ($0.07). Tyler Technologies had a return on equity of 10.42% and a net margin of 13.53%.The firm had revenue of $575.18 million for the quarter, compared to analyst estimates of $591.09 million. During the same period last year, the company earned $2.43 EPS. The company's revenue was up 6.3% compared to the same quarter last year. As a group, research analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. BTIG Research lowered their price target on Tyler Technologies from $560.00 to $470.00 and set a "buy" rating on the stock in a research report on Monday, February 9th. Robert W. Baird set a $440.00 price target on shares of Tyler Technologies in a research report on Friday, February 13th. The Goldman Sachs Group set a $420.00 price objective on Tyler Technologies in a research note on Friday, February 13th. Piper Sandler reaffirmed an "overweight" rating and set a $543.00 price target (down from $671.00) on shares of Tyler Technologies in a report on Friday, February 13th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $750.00 price objective on shares of Tyler Technologies in a report on Tuesday, February 3rd. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Tyler Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $467.54.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Salomon & Ludwin LLC lifted its stake in Tyler Technologies by 6,100.0% in the 4th quarter. Salomon & Ludwin LLC now owns 62 shares of the technology company's stock valued at $27,000 after purchasing an additional 61 shares during the last quarter. DV Equities LLC bought a new position in shares of Tyler Technologies in the 4th quarter valued at $27,000. Root Financial Partners LLC acquired a new stake in shares of Tyler Technologies during the 3rd quarter valued at $28,000. Elyxium Wealth LLC bought a new stake in Tyler Technologies during the 4th quarter worth $29,000. Finally, Bayban acquired a new position in Tyler Technologies in the 4th quarter worth about $30,000. Institutional investors and hedge funds own 93.30% of the company's stock.

About Tyler Technologies

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler's product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.

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