Tyler Technologies, Inc. (NYSE:TYL) CEO Sells $3,072,195.00 in Stock

Tyler Technologies, Inc. (NYSE:TYL) CEO H Lynn Moore, Jr. sold 5,250 shares of the business’s stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $585.18, for a total value of $3,072,195.00. Following the transaction, the chief executive officer now directly owns 81,775 shares of the company’s stock, valued at approximately $47,853,094.50. The trade was a 6.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Tyler Technologies Trading Down 1.3%

NYSE TYL opened at $580.06 on Friday. The firm has a market capitalization of $25.01 billion, a P/E ratio of 95.72, a PEG ratio of 4.93 and a beta of 0.84. 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 business has a fifty day simple moving average of $564.19 and a 200 day simple moving average of $584.59.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, April 23rd. The technology company reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.56 by $0.22. The company had revenue of $562.43 million for the quarter, compared to analysts’ expectations of $556.45 million. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.20 EPS. On average, analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Tyler Technologies

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Tyler Technologies by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 5,459,163 shares of the technology company’s stock worth $3,173,903,000 after purchasing an additional 148,762 shares during the period. Geode Capital Management LLC increased its holdings in Tyler Technologies by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 1,136,734 shares of the technology company’s stock worth $654,406,000 after acquiring an additional 27,826 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Tyler Technologies by 6.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 998,927 shares of the technology company’s stock worth $580,766,000 after acquiring an additional 59,554 shares during the last quarter. Franklin Resources Inc. increased its holdings in Tyler Technologies by 7.9% in the 4th quarter. Franklin Resources Inc. now owns 984,615 shares of the technology company’s stock worth $567,768,000 after acquiring an additional 71,869 shares during the last quarter. Finally, Norges Bank purchased a new stake in Tyler Technologies in the 4th quarter worth about $528,465,000. 93.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. The Goldman Sachs Group boosted their target price on Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. DA Davidson reduced their target price on Tyler Technologies from $595.00 to $570.00 and set a “neutral” rating on the stock in a report on Friday, April 25th. Piper Sandler reduced their target price on Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. Barclays cut their price target on Tyler Technologies from $700.00 to $695.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. Finally, Needham & Company LLC restated a “buy” rating and set a $750.00 price target on shares of Tyler Technologies in a report on Tuesday, May 13th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Tyler Technologies currently has an average rating of “Moderate Buy” and an average target price of $680.50.

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.