Tyler Technologies, Inc. (NYSE:TYL) Short Interest Update

Tyler Technologies, Inc. (NYSE:TYL) was the target of a large increase in short interest in November. As of November 15th, there was short interest totalling 689,300 shares, an increase of 23.8% from the October 31st total of 556,700 shares. Based on an average daily trading volume, of 264,100 shares, the days-to-cover ratio is currently 2.6 days.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. DA Davidson boosted their price objective on shares of Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Barclays boosted their price objective on shares of Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. StockNews.com raised shares of Tyler Technologies from a “hold” rating to a “buy” rating in a research note on Thursday. Needham & Company LLC boosted their target price on shares of Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $627.00 target price on shares of Tyler Technologies in a research note on Friday, September 13th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $642.62.

Insider Buying and Selling at Tyler Technologies

In related news, CEO H Lynn Moore, Jr. sold 3,250 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $631.41, for a total value of $2,052,082.50. Following the sale, the chief executive officer now owns 75,000 shares in the company, valued at approximately $47,355,750. The trade was a 4.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brian K. Miller sold 2,500 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $624.41, for a total transaction of $1,561,025.00. Following the transaction, the chief financial officer now owns 11,950 shares in the company, valued at $7,461,699.50. This trade represents a 17.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,350 shares of company stock valued at $24,361,172 in the last three months. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TYL. Tidal Investments LLC lifted its holdings in Tyler Technologies by 64.8% in the 1st quarter. Tidal Investments LLC now owns 2,953 shares of the technology company’s stock valued at $1,253,000 after purchasing an additional 1,161 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Tyler Technologies by 18.3% in the 2nd quarter. SG Americas Securities LLC now owns 8,117 shares of the technology company’s stock valued at $4,081,000 after purchasing an additional 1,255 shares in the last quarter. Aigen Investment Management LP purchased a new position in Tyler Technologies in the 3rd quarter valued at $1,309,000. Vaughan Nelson Investment Management L.P. lifted its holdings in Tyler Technologies by 21.5% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 123,253 shares of the technology company’s stock valued at $61,969,000 after purchasing an additional 21,818 shares in the last quarter. Finally, Swedbank AB acquired a new stake in shares of Tyler Technologies in the 2nd quarter worth $251,390,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Stock Performance

Tyler Technologies stock traded down $3.77 during mid-day trading on Monday, hitting $625.40. The company had a trading volume of 294,969 shares, compared to its average volume of 235,043. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies has a 12-month low of $397.80 and a 12-month high of $637.53. The company’s fifty day moving average is $600.16 and its 200-day moving average is $557.28. The company has a market capitalization of $26.77 billion, a price-to-earnings ratio of 113.85, a P/E/G ratio of 5.70 and a beta of 0.77.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The business had revenue of $543.34 million for the quarter, compared to analyst estimates of $547.34 million. During the same quarter in the prior year, the firm posted $1.66 EPS. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities research analysts predict that Tyler Technologies will post 7.36 EPS for the current year.

About Tyler Technologies

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.