Insider Selling: Tyler Technologies, Inc. (NYSE:TYL) CFO Sells 3,333 Shares of Stock

Tyler Technologies, Inc. (NYSE:TYL) CFO Brian K. Miller sold 3,333 shares of Tyler Technologies stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $568.46, for a total value of $1,894,677.18. Following the sale, the chief financial officer now directly owns 11,231 shares in the company, valued at $6,384,374.26. The trade was a 22.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Tyler Technologies Stock Performance

TYL stock opened at $571.16 on Friday. The stock has a 50-day moving average price of $561.50 and a 200-day moving average price of $587.33. Tyler Technologies, Inc. has a 1-year low of $458.50 and a 1-year high of $661.31. The firm has a market cap of $24.63 billion, a PE ratio of 94.25, a price-to-earnings-growth ratio of 4.93 and a beta of 0.88. 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 issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.22. The firm had revenue of $562.43 million for the quarter, compared to analyst estimates of $556.45 million. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The company’s revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.20 earnings per share. As a group, equities research analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TYL shares. 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 report on Tuesday, February 18th. Piper Sandler dropped their price target on shares of Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. Needham & Company LLC reissued a “buy” rating and issued a $750.00 price objective on shares of Tyler Technologies in a research note on Tuesday, May 13th. Wells Fargo & Company decreased their price objective on Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Finally, Barclays cut their target price on Tyler Technologies from $700.00 to $695.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $687.82.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Barclays PLC increased its stake in Tyler Technologies by 2.5% in the third quarter. Barclays PLC now owns 88,296 shares of the technology company’s stock valued at $51,543,000 after purchasing an additional 2,169 shares in the last quarter. JPMorgan Chase & Co. increased its position in Tyler Technologies by 148.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock valued at $269,369,000 after buying an additional 275,511 shares in the last quarter. SG Americas Securities LLC increased its position in Tyler Technologies by 19.9% in the 4th quarter. SG Americas Securities LLC now owns 1,460 shares of the technology company’s stock valued at $842,000 after buying an additional 242 shares in the last quarter. Blue Trust Inc. raised its stake in Tyler Technologies by 14.4% during the 4th quarter. Blue Trust Inc. now owns 445 shares of the technology company’s stock worth $260,000 after buying an additional 56 shares during the period. Finally, KBC Group NV boosted its holdings in Tyler Technologies by 15.1% in the fourth quarter. KBC Group NV now owns 17,884 shares of the technology company’s stock worth $10,313,000 after acquiring an additional 2,344 shares in the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

Tyler Technologies Company Profile

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.