Insider Selling: Tyler Technologies Inc. (TYL) Director Sells 21,000 Shares of Stock
Tyler Technologies Inc. (NYSE:TYL) Director Luther King, Jr. sold 21,000 shares of Tyler Technologies stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $155.31, for a total value of $3,261,510.00. Following the transaction, the director now directly owns 72,864 shares in the company, valued at $11,316,507.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Tyler Technologies Inc. (NYSE:TYL) opened at 150.16 on Friday. The stock’s 50 day moving average price is $165.66 and its 200-day moving average price is $160.91. The stock has a market capitalization of $5.50 billion, a P/E ratio of 86.60 and a beta of 1.15. Tyler Technologies Inc. has a 1-year low of $118.16 and a 1-year high of $184.01.
Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, October 26th. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04. The company earned $197.80 million during the quarter, compared to the consensus estimate of $50.33 million. Tyler Technologies had a return on equity of 12.34% and a net margin of 9.26%. The firm’s quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.71 earnings per share. Equities research analysts anticipate that Tyler Technologies Inc. will post $3.50 EPS for the current fiscal year.
A number of research analysts recently issued reports on TYL shares. Maxim Group lifted their target price on Tyler Technologies from $196.00 to $206.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Piper Jaffray Cos. started coverage on Tyler Technologies in a report on Monday, July 25th. They set an “overweight” rating and a $200.00 target price on the stock. Zacks Investment Research raised Tyler Technologies from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a report on Thursday, August 4th. JMP Securities lifted their target price on Tyler Technologies from $160.00 to $170.00 and gave the stock a “market outperform” rating in a report on Thursday, July 28th. Finally, Pacific Crest reiterated a “buy” rating and issued a $178.00 price target (up previously from $176.00) on shares of Tyler Technologies in a research report on Tuesday, September 13th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Tyler Technologies presently has a consensus rating of “Buy” and a consensus price target of $177.94.
A number of large investors have recently added to or reduced their stakes in the stock. Point72 Asia Hong Kong Ltd bought a new stake in Tyler Technologies during the second quarter worth approximately $100,000. Creative Planning increased its stake in Tyler Technologies by 437.2% in the second quarter. Creative Planning now owns 650 shares of the company’s stock worth $108,000 after buying an additional 529 shares in the last quarter. Grandeur Peak Global Advisors LLC increased its stake in Tyler Technologies by 20.0% in the second quarter. Grandeur Peak Global Advisors LLC now owns 900 shares of the company’s stock worth $150,000 after buying an additional 150 shares in the last quarter. Advisor Group Inc. bought a new stake in Tyler Technologies during the second quarter worth approximately $178,000. Finally, YHB Investment Advisors Inc. bought a new stake in Tyler Technologies during the third quarter worth approximately $204,000. Institutional investors and hedge funds own 90.91% of the company’s stock.
Tyler Technologies Company Profile
Tyler Technologies, Inc is a provider of information management solutions and services for the public sector, with a focus on local governments. The Company provides professional information technology (IT) services to its clients, including software and hardware installation, data conversion, training and product modifications.
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