Tyler Technologies, Inc. (NYSE:TYL) Director Sells $1,951,609.50 in Stock

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

Tyler Technologies Stock Performance

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

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

Analysts Set New Price Targets

A number of brokerages have recently commented on TYL. Needham & Company LLC reiterated a “buy” rating and issued a $600.00 target price on shares of Tyler Technologies in a research report on Thursday, July 25th. Loop Capital raised their target price on shares of Tyler Technologies from $485.00 to $530.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. Oppenheimer upped their price target on Tyler Technologies from $550.00 to $625.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Piper Sandler lifted their price objective on Tyler Technologies from $529.00 to $625.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, 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 note on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Tyler Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $582.31.

Institutional Trading of Tyler Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TYL. Gilbert & Cook Inc. raised its holdings in shares of Tyler Technologies by 7.6% in the 4th quarter. Gilbert & Cook Inc. now owns 1,437 shares of the technology company’s stock valued at $601,000 after buying an additional 102 shares during the period. National Bank of Canada FI increased its stake in Tyler Technologies by 9.2% during the fourth quarter. National Bank of Canada FI now owns 9,847 shares of the technology company’s stock worth $4,020,000 after purchasing an additional 833 shares during the period. Private Advisor Group LLC increased its stake in Tyler Technologies by 16.6% during the fourth quarter. Private Advisor Group LLC now owns 814 shares of the technology company’s stock worth $340,000 after purchasing an additional 116 shares during the period. Principal Securities Inc. purchased a new position in shares of Tyler Technologies in the fourth quarter valued at approximately $483,000. Finally, QRG Capital Management Inc. purchased a new position in shares of Tyler Technologies in the fourth quarter valued at approximately $249,000. 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.