Tyler Technologies (NYSE:TYL) Stock: Insider Jeffrey David Puckett Sells 10,000 Shares

Tyler Technologies, Inc. (NYSE:TYL) COO Jeffrey Puckett sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $419.69, for a total transaction of $4,196,900.00. Following the completion of the sale, the chief operating officer directly owned 7,800 shares in the company, valued at $3,273,582. This represents a 56.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Jeffrey David Puckett also recently made the following trade(s):

• On Monday, August 24th, Jeffrey Puckett sold 8,500 shares of Tyler Technologies stock. The shares were sold at an average price of $356.44, for a total transaction of $3,029,740.00.

Tyler Technologies Stock Performance

Shares of TYL stock opened at $420.33 on Friday. Tyler Technologies, Inc. has a one year low of $270.71 and a one year high of $481.57. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.33 and a current ratio of 1.33. The company has a 50 day moving average price of $357.96 and a 200 day moving average price of $336.87. The firm has a market capitalization of $16.71 billion, a price-to-earnings ratio of 52.94, a price-to-earnings-growth ratio of 2.77 and a beta of 0.74.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, October 28th. The technology company reported $3.52 earnings per share for the quarter, beating analysts’ consensus estimates of $3.48 by $0.04. Tyler Technologies had a net margin of 13.51% and a return on equity of 12.21%. The company had revenue of $647.57 million for the quarter, compared to analyst estimates of $651.38 million. During the same quarter last year, the business earned $2.91 EPS. Tyler Technologies’s revenue for the quarter was up 8.7% on a year-over-year basis. Sell-side analysts anticipate that Tyler Technologies, Inc. will post 10.11 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TYL shares. TD Cowen boosted their price target on Tyler Technologies from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Monday, October 26th. Weiss Ratings upgraded Tyler Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 22nd. Needham & Company LLC lifted their price objective on Tyler Technologies from $400.00 to $500.00 and gave the company a “buy” rating in a research note on Tuesday, October 27th. Piper Sandler began coverage on Tyler Technologies in a report on Monday, September 28th. They set an “overweight” rating and a $450.00 target price for the company. Finally, BTIG Research boosted their target price on Tyler Technologies from $400.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $440.88.

Institutional Trading of Tyler Technologies

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Tyler Technologies in the second quarter worth about $1,129,890,000. Principal Financial Group Inc. raised its stake in Tyler Technologies by 20.1% during the first quarter. Principal Financial Group Inc. now owns 1,745,625 shares of the technology company’s stock valued at $597,681,000 after buying an additional 291,564 shares in the last quarter. Bank of America Corp DE lifted its holdings in Tyler Technologies by 10.5% during the 1st quarter. Bank of America Corp DE now owns 405,095 shares of the technology company’s stock worth $138,696,000 after buying an additional 38,508 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Tyler Technologies by 13.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 400,775 shares of the technology company’s stock worth $117,211,000 after buying an additional 48,832 shares during the last quarter. Finally, Deutsche Bank AG bought a new position in Tyler Technologies during the 2nd quarter worth approximately $88,645,000. 93.30% of the stock is owned by institutional investors and hedge funds.

About Tyler Technologies

Tyler Technologies provides software and technology services primarily to public-sector organizations. Its customers include state and local governments, courts, public safety agencies, schools, and other public entities.

The company’s offerings include software for financial management, tax and property appraisal, courts and justice, public safety, education, utility billing, and permitting. Tyler also provides digital services such as online payments and tools for public access to government information.

Founded in 1966 and headquartered in Plano, Texas, Tyler Technologies serves customers mainly in the United States, with operations and customers in other markets as well.