Insider Selling: Tyler Technologies, Inc. (NYSE:TYL) Insider Sells 375 Shares of Stock

Tyler Technologies, Inc. (NYSE:TYL) insider Abigail Marshall Diaz-Pedrosa sold 375 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $573.60, for a total value of $215,100.00. Following the transaction, the insider now owns 247 shares in the company, valued at $141,679.20. The trade was a 60.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Tyler Technologies Stock Up 0.7%

Shares of TYL traded up $4.14 during trading hours on Monday, reaching $580.36. 184,084 shares of the stock traded hands, compared to its average volume of 264,189. Tyler Technologies, Inc. has a 52 week low of $458.50 and a 52 week high of $661.31. The company has a market cap of $25.03 billion, a price-to-earnings ratio of 95.77, a PEG ratio of 4.93 and a beta of 0.84. The stock has a fifty day simple moving average of $560.75 and a 200 day simple moving average of $585.74. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.56 by $0.22. Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. The firm had revenue of $562.43 million during the quarter, compared to analyst estimates of $556.45 million. During the same quarter last year, the business posted $2.20 EPS. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, equities analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $750.00 price target on shares of Tyler Technologies in a report on Tuesday, May 13th. Cantor Fitzgerald assumed coverage on Tyler Technologies in a report on Tuesday, June 3rd. They issued a “neutral” rating and a $600.00 target price on the stock. Wall Street Zen lowered shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. The Goldman Sachs Group raised their price objective on shares of Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Finally, Truist Financial reissued a “buy” rating and set a $775.00 target price (up from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $680.50.

Institutional Trading of Tyler Technologies

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Tyler Technologies by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 5,459,163 shares of the technology company’s stock valued at $3,173,903,000 after purchasing an additional 148,762 shares during the period. Geode Capital Management LLC grew its position in Tyler Technologies by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 1,136,734 shares of the technology company’s stock valued at $654,406,000 after buying an additional 27,826 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Tyler Technologies by 6.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 998,927 shares of the technology company’s stock worth $580,766,000 after buying an additional 59,554 shares during the last quarter. Franklin Resources Inc. raised its position in Tyler Technologies by 7.9% in the fourth quarter. Franklin Resources Inc. now owns 984,615 shares of the technology company’s stock worth $567,768,000 after acquiring an additional 71,869 shares during the period. Finally, Norges Bank bought a new stake in Tyler Technologies in the fourth quarter worth about $528,465,000. 93.30% of the stock is currently owned by institutional investors.

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.