Insider Selling: Tyler Technologies, Inc. (NYSE:TYL) Insider Sells 12,000 Shares of Stock

Tyler Technologies, Inc. (NYSE:TYL) insider John S. Marr, Jr. sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $613.66, for a total value of $7,363,920.00. Following the completion of the sale, the insider now owns 6,983 shares of the company’s stock, valued at $4,285,187.78. This trade represents a 63.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Tyler Technologies Stock Up 1.8 %

TYL stock traded up $11.03 during mid-day trading on Tuesday, hitting $635.22. The stock had a trading volume of 249,490 shares, compared to its average volume of 235,075. Tyler Technologies, Inc. has a 1-year low of $397.80 and a 1-year high of $635.40. The company has a fifty day moving average of $595.99 and a 200 day moving average of $553.15. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $27.19 billion, a price-to-earnings ratio of 114.10, a PEG ratio of 5.52 and a beta of 0.77.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The firm had revenue of $543.34 million during the quarter, compared to analysts’ expectations of $547.34 million. During the same period in the previous year, the company earned $1.66 earnings per share. The company’s revenue was up 9.8% compared to the same quarter last year. On average, equities analysts expect that Tyler Technologies, Inc. will post 7.36 EPS for the current fiscal year.

Institutional Trading of Tyler Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Independence Bank of Kentucky acquired a new stake in shares of Tyler Technologies in the second quarter worth $25,000. Ashton Thomas Securities LLC bought a new stake in Tyler Technologies during the third quarter valued at about $27,000. Blue Trust Inc. grew its position in shares of 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. Lynx Investment Advisory bought a new position in shares of Tyler Technologies in the second quarter worth about $38,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Tyler Technologies during the 2nd quarter worth about $61,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TYL shares. Needham & Company LLC boosted their target price on shares of Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Piper Sandler increased their price target on Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Robert W. Baird boosted their price objective on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. The Goldman Sachs Group reiterated a “buy” rating and issued a $627.00 target price on shares of Tyler Technologies in a report on Friday, September 13th. Finally, Truist Financial reissued a “buy” rating and issued a $685.00 target price (up from $600.00) on shares of Tyler Technologies in a research report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $642.62.

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.