Tyler Technologies, Inc. (NYSE:TYL) CFO Sells $575,845.85 in Stock

Tyler Technologies, Inc. (NYSE:TYL) CFO Brian K. Miller sold 1,033 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $557.45, for a total value of $575,845.85. Following the completion of the transaction, the chief financial officer now owns 13,028 shares of the company’s stock, valued at approximately $7,262,458.60. This represents a 7.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Tyler Technologies Stock Down 0.5 %

Shares of NYSE:TYL opened at $560.06 on Friday. Tyler Technologies, Inc. has a 12-month low of $458.50 and a 12-month high of $661.31. 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 stock’s 50-day moving average price is $563.43 and its 200-day moving average price is $590.96. The stock has a market capitalization of $24.15 billion, a P/E ratio of 92.42, a price-to-earnings-growth ratio of 4.93 and a beta of 0.88.

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, 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 the consensus estimate of $556.45 million. During the same quarter in the previous year, the company posted $2.20 earnings per share. The business’s revenue was up 10.3% on a year-over-year basis. On average, equities analysts anticipate that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Analysts Set New Price Targets

TYL has been the subject of several recent analyst reports. Robert W. Baird reduced their price objective on shares of Tyler Technologies from $785.00 to $700.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Wells Fargo & Company decreased their price target on shares of Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. The Goldman Sachs Group lifted their price objective on Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. DA Davidson dropped their price target on Tyler Technologies from $595.00 to $570.00 and set a “neutral” rating for the company in a research report on Friday, April 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $750.00 target price on shares of Tyler Technologies in a research note on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $674.67.

Institutional Investors Weigh In On Tyler Technologies

Large investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its stake in shares of Tyler Technologies by 221.4% in the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock worth $26,000 after purchasing an additional 31 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new position in shares of Tyler Technologies during the first quarter valued at approximately $26,000. Mowery & Schoenfeld Wealth Management LLC raised its holdings in shares of Tyler Technologies by 820.0% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company’s stock valued at $27,000 after acquiring an additional 41 shares in the last quarter. Sierra Ocean LLC purchased a new stake in Tyler Technologies in the fourth quarter worth $32,000. Finally, Brown Brothers Harriman & Co. boosted its holdings in Tyler Technologies by 300.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock valued at $32,000 after acquiring an additional 42 shares in the last quarter. 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.