Brian K. Miller Sells 1,550 Shares of Tyler Technologies, Inc. (NYSE:TYL) Stock

Tyler Technologies, Inc. (NYSE:TYL) CFO Brian K. Miller sold 1,550 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $613.58, for a total transaction of $951,049.00. Following the sale, the chief financial officer now directly owns 14,026 shares of the company’s stock, valued at $8,606,073.08. This represents a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Tyler Technologies Stock Performance

Shares of TYL stock traded down $11.30 during trading on Thursday, reaching $613.84. 85,530 shares of the company’s stock were exchanged, compared to its average volume of 236,789. The firm’s fifty day moving average price is $599.61 and its 200-day moving average price is $598.46. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $26.40 billion, a PE ratio of 101.24, a PEG ratio of 4.93 and a beta of 0.78. Tyler Technologies, Inc. has a twelve month low of $397.80 and a twelve month high of $661.31.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. As a group, sell-side analysts anticipate that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Hedge Funds Weigh In On Tyler Technologies

Several institutional investors have recently made changes to their positions in the stock. Robeco Institutional Asset Management B.V. grew its stake in Tyler Technologies by 626.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 42,450 shares of the technology company’s stock valued at $24,779,000 after acquiring an additional 36,605 shares during the period. QRG Capital Management Inc. boosted its stake in Tyler Technologies by 21.1% during the 3rd quarter. QRG Capital Management Inc. now owns 940 shares of the technology company’s stock valued at $549,000 after purchasing an additional 164 shares during the last quarter. Portside Wealth Group LLC purchased a new stake in shares of Tyler Technologies in the third quarter valued at about $259,000. Assetmark Inc. raised its stake in shares of Tyler Technologies by 9.4% in the third quarter. Assetmark Inc. now owns 9,910 shares of the technology company’s stock valued at $5,785,000 after buying an additional 854 shares during the period. Finally, Maiden Cove Capital LLC purchased a new position in Tyler Technologies in the 3rd quarter valued at approximately $583,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on TYL shares. Piper Sandler lifted their price objective on Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $615.00 price objective (down previously from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. Barclays boosted their target price on shares of Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Truist Financial reaffirmed a “buy” rating and issued a $775.00 price objective (up previously from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. Finally, DA Davidson reissued a “neutral” rating and set a $575.00 target price on shares of Tyler Technologies in a research report on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tyler Technologies presently has an average rating of “Moderate Buy” and an average target price of $676.25.

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.