Insider Selling: Tyler Technologies, Inc. (NYSE:TYL) Director Sells 3,350 Shares of Stock

Tyler Technologies, Inc. (NYSE:TYL) Director Glenn A. Carter sold 3,350 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $582.57, for a total value of $1,951,609.50. Following the transaction, the director now directly owns 2,654 shares of the company’s stock, valued at $1,546,140.78. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Tyler Technologies Stock Down 1.6 %

Shares of NYSE:TYL opened at $586.14 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market cap of $25.01 billion, a P/E ratio of 132.61, a P/E/G ratio of 5.37 and a beta of 0.78. Tyler Technologies, Inc. has a 1-year low of $361.16 and a 1-year high of $598.93. The firm has a fifty day moving average price of $559.59 and a 200 day moving average price of $490.26.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.06. The firm had revenue of $540.98 million for the quarter, compared to analyst estimates of $541.01 million. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the company posted $1.53 earnings per share. Sell-side analysts predict that Tyler Technologies, Inc. will post 7.21 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TYL shares. BTIG Research boosted their price objective on Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Loop Capital raised their price objective on shares of Tyler Technologies from $485.00 to $530.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Barclays boosted their target price on shares of Tyler Technologies from $515.00 to $577.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Oppenheimer raised their price target on Tyler Technologies from $550.00 to $625.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, The Goldman Sachs Group upped their price objective on Tyler Technologies from $515.00 to $627.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $582.31.

Institutional Investors Weigh In On Tyler Technologies

Several hedge funds have recently modified their holdings of the stock. Waldron Private Wealth LLC raised its position in Tyler Technologies by 3.5% during the 2nd quarter. Waldron Private Wealth LLC now owns 716 shares of the technology company’s stock worth $360,000 after buying an additional 24 shares during the last quarter. Industrial Alliance Investment Management Inc. lifted its position in Tyler Technologies by 4.4% in the first quarter. Industrial Alliance Investment Management Inc. now owns 693 shares of the technology company’s stock valued at $295,000 after purchasing an additional 29 shares during the period. George Kaiser Family Foundation boosted its holdings in Tyler Technologies by 0.7% in the 2nd quarter. George Kaiser Family Foundation now owns 4,177 shares of the technology company’s stock valued at $2,100,000 after purchasing an additional 29 shares in the last quarter. GW&K Investment Management LLC increased its position in Tyler Technologies by 0.3% during the 4th quarter. GW&K Investment Management LLC now owns 12,044 shares of the technology company’s stock worth $5,035,000 after purchasing an additional 31 shares during the period. Finally, Avantax Advisory Services Inc. raised its stake in shares of Tyler Technologies by 5.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 670 shares of the technology company’s stock worth $280,000 after buying an additional 33 shares in the last quarter. 93.30% of the stock is owned by institutional investors and hedge funds.

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.