Insider Selling: Tyler Technologies, Inc. (NYSE:TYL) CEO Sells 5,000 Shares of Stock

Tyler Technologies, Inc. (NYSE:TYL) CEO H Lynn Moore, Jr. sold 5,000 shares of Tyler Technologies stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $576.62, for a total value of $2,883,100.00. Following the completion of the transaction, the chief executive officer now owns 75,000 shares in the company, valued at $43,246,500. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Tyler Technologies Price Performance

Shares of NYSE TYL traded up $0.91 during trading on Monday, reaching $582.87. The company had a trading volume of 135,332 shares, compared to its average volume of 220,661. Tyler Technologies, Inc. has a twelve month low of $361.16 and a twelve month high of $598.93. The stock has a market capitalization of $24.87 billion, a PE ratio of 131.67, a price-to-earnings-growth ratio of 5.39 and a beta of 0.78. The stock has a 50-day moving average price of $564.01 and a two-hundred day moving average price of $493.33. 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 released its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.06. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The company had revenue of $540.98 million during the quarter, compared to analysts’ expectations of $541.01 million. During the same period in the previous year, the firm posted $1.53 earnings per share. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, sell-side analysts predict that Tyler Technologies, Inc. will post 7.21 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TYL shares. BTIG Research lifted their target price on Tyler Technologies from $550.00 to $630.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Needham & Company LLC restated a “buy” rating and issued a $600.00 price target on shares of Tyler Technologies in a research note on Thursday, July 25th. Evercore ISI upgraded Tyler Technologies to a “hold” rating in a research note on Friday, July 26th. Barclays lifted their price target on Tyler Technologies from $515.00 to $577.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Finally, Loop Capital lifted their price target on Tyler Technologies from $485.00 to $530.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Tyler Technologies has an average rating of “Moderate Buy” and an average target price of $582.31.

Hedge Funds Weigh In On Tyler Technologies

A number of institutional investors have recently made changes to their positions in the stock. Independence Bank of Kentucky acquired a new position in Tyler Technologies in the second quarter valued at $25,000. Kapitalo Investimentos Ltda acquired a new position in Tyler Technologies in the fourth quarter valued at $26,000. Covestor Ltd increased its stake in Tyler Technologies by 153.6% in the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock valued at $30,000 after purchasing an additional 43 shares during the last quarter. Blue Trust Inc. increased its stake in Tyler Technologies by 329.4% in the second quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock valued at $37,000 after purchasing an additional 56 shares during the last quarter. Finally, Lynx Investment Advisory acquired a new position in Tyler Technologies in the second quarter valued at $38,000. 93.30% of the stock is owned by institutional investors and hedge funds.

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.