Insider Selling: Tyler Technologies, Inc. (NYSE:TYL) CFO Sells $703,104.00 in Stock

Tyler Technologies, Inc. (NYSE:TYL) CFO Brian K. Miller sold 1,200 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $585.92, for a total value of $703,104.00. Following the completion of the sale, the chief financial officer now directly owns 16,016 shares of the company’s stock, valued at approximately $9,384,094.72. This represents a 6.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Tyler Technologies Stock Down 1.3%

Shares of NYSE TYL opened at $580.06 on Friday. 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 business’s 50 day moving average is $564.19 and its two-hundred day moving average is $584.59. Tyler Technologies, Inc. has a 52-week low of $458.50 and a 52-week high of $661.31. The firm has a market cap of $25.01 billion, a price-to-earnings ratio of 95.72, a PEG ratio of 4.93 and a beta of 0.84.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.22. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The firm had revenue of $562.43 million for the quarter, compared to the consensus estimate of $556.45 million. During the same quarter in the previous year, the business earned $2.20 EPS. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. Research analysts predict that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wells Fargo & Company dropped their target price on Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. DA Davidson dropped their price objective on shares of Tyler Technologies from $595.00 to $570.00 and set a “neutral” rating for the company in a report on Friday, April 25th. Wall Street Zen downgraded shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. Robert W. Baird dropped their price target on shares of Tyler Technologies from $785.00 to $700.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Finally, Barclays cut their price target on shares of Tyler Technologies from $700.00 to $695.00 and set an “overweight” rating for the company in a report on Friday, April 25th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $680.50.

Institutional Trading of Tyler Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Larson Financial Group LLC boosted its stake in shares of Tyler Technologies by 221.4% in the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock valued at $26,000 after purchasing an additional 31 shares during the period. Retirement Wealth Solutions LLC purchased a new stake in Tyler Technologies during the 1st quarter worth approximately $26,000. Mowery & Schoenfeld Wealth Management LLC lifted its holdings in Tyler Technologies by 820.0% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company’s stock worth $27,000 after buying an additional 41 shares in the last quarter. Sierra Ocean LLC purchased a new position in Tyler Technologies in the 4th quarter valued at approximately $32,000. Finally, Brown Brothers Harriman & Co. grew its stake in shares of Tyler Technologies by 300.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock worth $32,000 after acquiring an additional 42 shares in the last quarter. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

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.