Tyler Technologies (NYSE:TYL) Director Daniel Pope Sells 680 Shares of Stock

Tyler Technologies, Inc. (NYSE:TYL) Director Daniel Pope sold 680 shares of Tyler Technologies stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $407.56, for a total value of $277,140.80. Following the completion of the transaction, the director directly owned 2,643 shares of the company’s stock, valued at approximately $1,077,181.08. This represents a 20.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Tyler Technologies Stock Up 4.8%

TYL stock traded up $19.38 during trading on Wednesday, hitting $423.62. 1,056,297 shares of the stock traded hands, compared to its average volume of 756,767. Tyler Technologies, Inc. has a 1 year low of $270.71 and a 1 year high of $481.57. The firm’s 50 day moving average is $353.93 and its two-hundred day moving average is $337.07. The stock has a market cap of $16.84 billion, a price-to-earnings ratio of 53.35, a price-to-earnings-growth ratio of 2.66 and a beta of 0.74. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.33 and a quick ratio of 1.33.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data 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. The business had revenue of $647.57 million during the quarter, compared to analyst estimates of $651.38 million. Tyler Technologies had a net margin of 13.51% and a return on equity of 12.21%. Tyler Technologies’s revenue was up 8.7% compared to the same quarter last year. During the same period last year, the business earned $2.91 EPS. On average, sell-side analysts anticipate that Tyler Technologies, Inc. will post 10.13 EPS for the current year.

Institutional Investors Weigh In On Tyler Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC raised its stake in Tyler Technologies by 4.8% during the 3rd quarter. Parallel Advisors LLC now owns 674 shares of the technology company’s stock valued at $215,000 after buying an additional 31 shares during the last quarter. IFP Advisors Inc increased its position in Tyler Technologies by 5.9% during the second quarter. IFP Advisors Inc now owns 573 shares of the technology company’s stock valued at $168,000 after acquiring an additional 32 shares during the last quarter. Empirical Finance LLC increased its position in Tyler Technologies by 4.0% during the second quarter. Empirical Finance LLC now owns 1,416 shares of the technology company’s stock valued at $414,000 after acquiring an additional 55 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its position in Tyler Technologies by 75.0% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 147 shares of the technology company’s stock valued at $50,000 after acquiring an additional 63 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in Tyler Technologies by 36.6% in the second quarter. NewEdge Advisors LLC now owns 235 shares of the technology company’s stock valued at $69,000 after acquiring an additional 63 shares during the period. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Piper Sandler started coverage on Tyler Technologies in a research note on Monday, September 28th. They set an “overweight” rating and a $450.00 target price on the stock. Guggenheim assumed coverage on Tyler Technologies in a report on Wednesday, July 22nd. They set a “buy” rating and a $440.00 price target on the stock. Needham & Company LLC upped their price target on Tyler Technologies from $400.00 to $500.00 and gave the company a “buy” rating in a report on Tuesday, October 27th. UBS Group set a $395.00 price objective on Tyler Technologies in a research report on Saturday, August 1st. Finally, TD Cowen lifted their price objective on Tyler Technologies from $400.00 to $450.00 and gave the stock a “buy” rating in a report on Monday, October 26th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Tyler Technologies has an average rating of “Moderate Buy” and a consensus price target of $440.88.

About Tyler Technologies

Tyler Technologies, Inc provides integrated software and technology services to public-sector organizations. Its customers include municipalities, counties, states, courts, school districts, public safety agencies, and other government entities. The company’s solutions are designed to help public organizations manage operations, improve service delivery, and engage with residents and constituents.

Tyler’s product portfolio includes enterprise resource planning and financial management software, property tax and appraisal systems, court and justice solutions, public safety and emergency communications platforms, permitting and licensing tools, and software for schools and elections.