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

Tyler Technologies, Inc. (NYSE:TYL) CFO Brian K. Miller sold 1,200 shares of the company’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $577.66, for a total transaction of $693,192.00. Following the completion of the sale, the chief financial officer now directly owns 17,475 shares in the company, valued at $10,094,608.50. This represents a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Tyler Technologies Stock Performance

Shares of NYSE TYL opened at $587.25 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21. The stock’s fifty day moving average price is $563.00 and its two-hundred day moving average price is $585.29. Tyler Technologies, Inc. has a one year low of $458.50 and a one year high of $661.31. The firm has a market cap of $25.32 billion, a price-to-earnings ratio of 96.91, a P/E/G ratio of 4.93 and a beta of 0.84.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.22. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The business had revenue of $562.43 million during the quarter, compared to the consensus estimate of $556.45 million. During the same period in the prior year, the company earned $2.20 EPS. Tyler Technologies’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 equities analysts have recently commented on the stock. Wells Fargo & Company lowered their price target on shares of Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Barclays cut their price target on shares of Tyler Technologies from $700.00 to $695.00 and set an “overweight” rating for the company in a report on Friday, April 25th. Truist Financial reaffirmed a “buy” rating and set a $775.00 price objective (up from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. The Goldman Sachs Group lifted their target price on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Finally, Wall Street Zen cut Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $680.50.

Institutional Investors Weigh In On Tyler Technologies

Several institutional investors and hedge funds have recently made changes to their positions in TYL. Norges Bank acquired a new stake in Tyler Technologies during the fourth quarter worth approximately $528,465,000. GAMMA Investing LLC lifted its holdings in shares of Tyler Technologies by 57,694.7% in the first quarter. GAMMA Investing LLC now owns 878,480 shares of the technology company’s stock valued at $510,739,000 after purchasing an additional 876,960 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Tyler Technologies by 1,991.8% in the fourth quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock valued at $317,486,000 after purchasing an additional 524,259 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Tyler Technologies during the fourth quarter worth $159,947,000. Finally, JPMorgan Chase & Co. lifted its holdings in Tyler Technologies by 148.2% during the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock worth $269,369,000 after acquiring an additional 275,511 shares during the period. Institutional investors and hedge funds own 93.30% of the company’s stock.

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.