Insider Selling: Tyler Technologies, Inc. (NYSE:TYL) CFO Sells 2,671 Shares of Stock

Tyler Technologies, Inc. (NYSE:TYL) CFO Brian K. Miller sold 2,671 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $465.03, for a total transaction of $1,242,095.13. Following the completion of the transaction, the chief financial officer now owns 13,536 shares in the company, valued at $6,294,646.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Tyler Technologies Stock Up 0.2 %

Shares of TYL opened at $481.84 on Friday. Tyler Technologies, Inc. has a 12-month low of $361.16 and a 12-month high of $485.40. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $20.46 billion, a PE ratio of 109.01, a price-to-earnings-growth ratio of 4.38 and a beta of 0.76. The business’s 50 day moving average is $429.06 and its 200 day moving average is $420.83.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, February 14th. The technology company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.06. Tyler Technologies had a net margin of 9.50% and a return on equity of 9.35%. The firm had revenue of $480.94 million for the quarter, compared to analysts’ expectations of $483.34 million. Research analysts expect that Tyler Technologies, Inc. will post 7.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on TYL. JPMorgan Chase & Co. upped their price objective on Tyler Technologies from $500.00 to $526.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. Robert W. Baird raised their price objective on Tyler Technologies from $500.00 to $525.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Oppenheimer lifted their price objective on Tyler Technologies from $480.00 to $500.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. DA Davidson increased their target price on shares of Tyler Technologies from $412.00 to $434.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. Finally, JMP Securities restated a “market outperform” rating and set a $490.00 target price on shares of Tyler Technologies in a research note on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $492.22.

Institutional Trading of Tyler Technologies

Several hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Tyler Technologies in the fourth quarter worth about $459,691,000. Morgan Stanley grew its holdings in Tyler Technologies by 21.1% during the 3rd quarter. Morgan Stanley now owns 1,015,713 shares of the technology company’s stock valued at $392,208,000 after buying an additional 177,242 shares in the last quarter. APG Asset Management US Inc. bought a new stake in Tyler Technologies in the 4th quarter worth approximately $57,493,000. Van ECK Associates Corp raised its holdings in shares of Tyler Technologies by 13.1% during the 4th quarter. Van ECK Associates Corp now owns 868,016 shares of the technology company’s stock worth $362,935,000 after acquiring an additional 100,788 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Tyler Technologies by 6.7% during the 4th quarter. Franklin Resources Inc. now owns 1,040,341 shares of the technology company’s stock valued at $434,987,000 after acquiring an additional 64,889 shares during the last quarter. 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.