Insider Selling: Tyler Technologies, Inc. (NYSE:TYL) Insider Sells 375 Shares of Stock

Tyler Technologies, Inc. (NYSE:TYL) insider Abigail Marshall Diaz-Pedrosa sold 375 shares of Tyler Technologies stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $573.60, for a total value of $215,100.00. Following the sale, the insider now directly owns 247 shares in the company, valued at $141,679.20. The trade was a 60.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Tyler Technologies Price Performance

Shares of Tyler Technologies stock opened at $583.69 on Thursday. The stock has a market capitalization of $25.17 billion, a price-to-earnings ratio of 96.32, a PEG ratio of 4.93 and a beta of 0.84. 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, Inc. has a 1-year low of $458.50 and a 1-year high of $661.31. The firm has a fifty day simple moving average of $561.95 and a 200-day simple moving average of $585.54.

Tyler Technologies (NYSE:TYL) last issued its quarterly 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. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The company had revenue of $562.43 million during the quarter, compared to analyst estimates of $556.45 million. During the same period in the previous year, the company earned $2.20 earnings per share. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, sell-side analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TYL. Barclays reduced their price target on shares of Tyler Technologies from $700.00 to $695.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. Needham & Company LLC reiterated a “buy” rating and issued a $750.00 price target on shares of Tyler Technologies in a research report on Tuesday, May 13th. Truist Financial reiterated a “buy” rating and set a $775.00 price objective (up from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Wall Street Zen downgraded Tyler Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. Finally, Piper Sandler dropped their price target on shares of Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Tyler Technologies presently has an average rating of “Moderate Buy” and an average price target of $680.50.

Hedge Funds Weigh In On Tyler Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC boosted its position in shares of Tyler Technologies by 2.3% during the 4th quarter. Integrated Wealth Concepts LLC now owns 786 shares of the technology company’s stock valued at $453,000 after acquiring an additional 18 shares in the last quarter. AdvisorNet Financial Inc raised its position in Tyler Technologies by 7.0% in the 1st quarter. AdvisorNet Financial Inc now owns 291 shares of the technology company’s stock worth $169,000 after purchasing an additional 19 shares during the last quarter. Leelyn Smith LLC raised its position in shares of Tyler Technologies by 0.9% during the first quarter. Leelyn Smith LLC now owns 2,122 shares of the technology company’s stock worth $1,234,000 after acquiring an additional 19 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Tyler Technologies by 0.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,668 shares of the technology company’s stock worth $2,115,000 after purchasing an additional 20 shares during the last quarter. Finally, Kensington Investment Counsel LLC raised its stake in shares of Tyler Technologies by 0.8% during the fourth quarter. Kensington Investment Counsel LLC now owns 2,496 shares of the technology company’s stock worth $1,439,000 after buying an additional 20 shares during the last quarter. 93.30% of the stock is currently owned by institutional investors.

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.