Insider Selling: Tyler Technologies, Inc. (NYSE:TYL) CFO Sells $1,561,025.00 in Stock

Tyler Technologies, Inc. (NYSE:TYL) CFO Brian K. Miller sold 2,500 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $624.41, for a total transaction of $1,561,025.00. Following the sale, the chief financial officer now directly owns 11,950 shares of the company’s stock, valued at $7,461,699.50. The trade was a 17.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Tyler Technologies Price Performance

TYL opened at $614.28 on Friday. Tyler Technologies, Inc. has a 12-month low of $397.80 and a 12-month high of $631.43. The business’s fifty day simple moving average is $593.46 and its 200-day simple moving average is $545.54. The company has a market capitalization of $26.29 billion, a price-to-earnings ratio of 112.10, a PEG ratio of 5.59 and a beta of 0.77. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The business had revenue of $543.34 million for the quarter, compared to the consensus estimate of $547.34 million. During the same period last year, the business posted $1.66 EPS. The business’s revenue was up 9.8% compared to the same quarter last year. On average, equities research analysts anticipate that Tyler Technologies, Inc. will post 7.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TYL has been the topic of a number of research analyst reports. JMP Securities boosted their price objective on shares of Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a research report on Friday, October 25th. StockNews.com raised shares of Tyler Technologies from a “hold” rating to a “buy” rating in a report on Tuesday. Truist Financial reaffirmed a “buy” rating and set a $685.00 price target (up from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Wells Fargo & Company boosted their price objective on shares of Tyler Technologies from $580.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, BTIG Research upped their price objective on Tyler Technologies from $550.00 to $630.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Tyler Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $642.62.

Hedge Funds Weigh In On Tyler Technologies

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Tyler Technologies by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 5,022,053 shares of the technology company’s stock valued at $2,134,423,000 after acquiring an additional 53,005 shares during the period. APG Asset Management N.V. raised its holdings in Tyler Technologies by 1.4% in the 2nd quarter. APG Asset Management N.V. now owns 1,507,062 shares of the technology company’s stock worth $706,994,000 after purchasing an additional 20,842 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Tyler Technologies by 4.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 904,175 shares of the technology company’s stock worth $527,785,000 after purchasing an additional 36,066 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Tyler Technologies by 15.3% in the 1st quarter. Janus Henderson Group PLC now owns 532,935 shares of the technology company’s stock worth $226,501,000 after acquiring an additional 70,801 shares in the last quarter. Finally, Swedbank AB purchased a new position in shares of Tyler Technologies in the second quarter valued at approximately $251,390,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

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.