Tyler Technologies (NYSE:TYL) Insider Purchases $198,298.80 in Stock

Tyler Technologies, Inc. (NYSE:TYL) insider Abigail Marshall Diaz-Pedrosa purchased 610 shares of the business’s stock in a transaction on Friday, February 20th. The stock was bought at an average cost of $325.08 per share, for a total transaction of $198,298.80. Following the purchase, the insider owned 1,123 shares of the company’s stock, valued at approximately $365,064.84. This represents a 118.91% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Tyler Technologies Stock Up 5.4%

Shares of TYL stock opened at $353.21 on Friday. Tyler Technologies, Inc. has a 12-month low of $283.71 and a 12-month high of $626.56. The firm has a fifty day moving average of $399.55 and a 200-day moving average of $469.91. The company has a market capitalization of $15.18 billion, a price-to-earnings ratio of 49.06, a P/E/G ratio of 2.24 and a beta of 0.91.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, February 11th. The technology company reported $2.64 earnings per share for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.07). The company had revenue of $575.18 million during the quarter, compared to analyst estimates of $591.09 million. Tyler Technologies had a return on equity of 10.42% and a net margin of 13.53%.Tyler Technologies’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.43 earnings per share. On average, equities analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current year.

Institutional Trading of Tyler Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. bought a new position in shares of Tyler Technologies in the 1st quarter valued at about $38,000. NewEdge Advisors LLC raised its stake in Tyler Technologies by 17.8% in the first quarter. NewEdge Advisors LLC now owns 251 shares of the technology company’s stock valued at $146,000 after buying an additional 38 shares during the period. Woodline Partners LP bought a new stake in Tyler Technologies in the first quarter valued at approximately $2,102,000. Geneos Wealth Management Inc. lifted its position in shares of Tyler Technologies by 137.9% in the first quarter. Geneos Wealth Management Inc. now owns 69 shares of the technology company’s stock valued at $40,000 after buying an additional 40 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Tyler Technologies by 0.7% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 108,852 shares of the technology company’s stock worth $64,532,000 after acquiring an additional 723 shares during the period. 93.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $750.00 price target on shares of Tyler Technologies in a research note on Tuesday, February 3rd. BTIG Research reduced their target price on shares of Tyler Technologies from $560.00 to $470.00 and set a “buy” rating for the company in a report on Monday, February 9th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $325.00 target price on shares of Tyler Technologies in a research report on Friday, February 13th. Stifel Nicolaus cut their price target on shares of Tyler Technologies from $550.00 to $400.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Finally, Evercore restated a “positive” rating on shares of Tyler Technologies in a research note on Friday, October 31st. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $467.54.

About Tyler Technologies

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler’s product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.