Insider Selling: Tyler Technologies, Inc. (NYSE:TYL) CFO Sells 1,200 Shares of Stock

Tyler Technologies, Inc. (NYSE:TYL) CFO Brian K. Miller sold 1,200 shares of the company’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $585.92, for a total value of $703,104.00. Following the sale, the chief financial officer now owns 16,016 shares in the company, valued at approximately $9,384,094.72. This represents a 6.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Tyler Technologies Stock Down 1.3%

Shares of TYL opened at $580.06 on Friday. The firm has a market cap of $25.01 billion, a P/E ratio of 95.72, a P/E/G ratio of 4.93 and a beta of 0.84. The stock has a 50 day simple moving average of $564.19 and a two-hundred day simple moving average of $584.90. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21. Tyler Technologies, Inc. has a 1 year low of $458.50 and a 1 year high of $661.31.

Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.22. The business had revenue of $562.43 million during the quarter, compared to analyst estimates of $556.45 million. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. Tyler Technologies’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.20 earnings per share. On average, analysts forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TYL shares. DA Davidson decreased their price target on Tyler Technologies from $595.00 to $570.00 and set a “neutral” rating on the stock in a research report on Friday, April 25th. Wall Street Zen cut shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. Truist Financial restated a “buy” rating and issued a $775.00 price objective (up from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Piper Sandler decreased their price objective on shares of Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating on the stock in a research report on Friday, April 25th. Finally, Needham & Company LLC restated a “buy” rating and issued a $750.00 price objective on shares of Tyler Technologies in a research report on Tuesday, May 13th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $680.50.

Institutional Trading of Tyler Technologies

A number of institutional investors have recently made changes to their positions in TYL. Larson Financial Group LLC boosted its stake in shares of Tyler Technologies by 221.4% during the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock valued at $26,000 after purchasing an additional 31 shares during the period. Retirement Wealth Solutions LLC purchased a new stake in shares of Tyler Technologies during the first quarter valued at approximately $26,000. Mowery & Schoenfeld Wealth Management LLC boosted its stake in shares of Tyler Technologies by 820.0% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company’s stock valued at $27,000 after purchasing an additional 41 shares during the period. Sierra Ocean LLC purchased a new stake in shares of Tyler Technologies during the fourth quarter valued at approximately $32,000. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of Tyler Technologies by 300.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock valued at $32,000 after purchasing an additional 42 shares during the period. Hedge funds and other institutional investors own 93.30% of the company’s stock.

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.