Tyler Technologies, Inc. (NYSE:TYL) CFO Brian K. Miller Sells 1,200 Shares

Tyler Technologies, Inc. (NYSE:TYL) CFO Brian K. Miller sold 1,200 shares of the company’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $585.92, for a total transaction of $703,104.00. Following the sale, the chief financial officer now owns 16,016 shares in the company, valued at $9,384,094.72. This represents a 6.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Tyler Technologies Stock Performance

Shares of TYL stock opened at $587.25 on Friday. Tyler Technologies, Inc. has a 12-month low of $458.50 and a 12-month high of $661.31. The business’s fifty day simple moving average is $563.00 and its 200-day simple moving average is $585.29. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The company has a market cap of $25.32 billion, a PE ratio of 96.91, a PEG ratio of 4.93 and a beta of 0.84.

Tyler Technologies (NYSE:TYL) last issued 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 return on equity of 10.15% and a net margin of 12.30%. The firm had revenue of $562.43 million during the quarter, compared to analyst estimates of $556.45 million. During the same quarter in the prior year, the business posted $2.20 EPS. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. Analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Wells Fargo & Company decreased their target price on shares of Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Wall Street Zen downgraded shares of Tyler Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. Piper Sandler cut their price target on shares of Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. DA Davidson cut their price target on shares of Tyler Technologies from $595.00 to $570.00 and set a “neutral” rating on the stock in a report on Friday, April 25th. Finally, Truist Financial reiterated a “buy” rating and set a $775.00 price target (up from $685.00) on shares of Tyler Technologies in a 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, Tyler Technologies has an average rating of “Moderate Buy” and an average target price of $680.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TYL. Choreo LLC raised its holdings in shares of Tyler Technologies by 3.9% in the fourth quarter. Choreo LLC now owns 647 shares of the technology company’s stock worth $374,000 after buying an additional 24 shares during the last quarter. Apollon Wealth Management LLC purchased a new position in shares of Tyler Technologies in the fourth quarter worth $221,000. Empowered Funds LLC raised its holdings in shares of Tyler Technologies by 54.6% in the fourth quarter. Empowered Funds LLC now owns 3,588 shares of the technology company’s stock worth $2,069,000 after buying an additional 1,267 shares during the last quarter. Portfolio Design Labs LLC purchased a new position in shares of Tyler Technologies in the fourth quarter worth $315,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Tyler Technologies by 49.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 149,562 shares of the technology company’s stock worth $85,953,000 after buying an additional 49,508 shares during the last quarter. Hedge funds and other institutional investors 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.