Tyler Technologies (NYSE:TYL) COO Sells $1,914,017.82 in Stock

Tyler Technologies, Inc. (NYSE:TYL) COO Jeffrey David Puckett sold 5,174 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $369.93, for a total transaction of $1,914,017.82. Following the completion of the sale, the chief operating officer owned 7,754 shares in the company, valued at approximately $2,868,437.22. The trade was a 40.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Tyler Technologies Price Performance

NYSE:TYL opened at $348.26 on Thursday. Tyler Technologies, Inc. has a one year low of $283.71 and a one year high of $621.34. The company has a fifty day moving average price of $381.91 and a 200 day moving average price of $456.08. The stock has a market cap of $14.97 billion, a P/E ratio of 48.37, a PEG ratio of 2.38 and a beta of 0.90.

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

Hedge Funds Weigh In On Tyler Technologies

A number of hedge funds have recently modified their holdings of TYL. DLD Asset Management LP bought a new stake in Tyler Technologies in the second quarter valued at $5,780,190,000. Norges Bank acquired a new position in Tyler Technologies during the fourth quarter worth $921,035,000. Van ECK Associates Corp lifted its holdings in shares of Tyler Technologies by 43.2% during the fourth quarter. Van ECK Associates Corp now owns 1,217,306 shares of the technology company’s stock valued at $552,596,000 after acquiring an additional 367,203 shares during the period. Wellington Management Group LLP boosted its stake in shares of Tyler Technologies by 72.5% in the 3rd quarter. Wellington Management Group LLP now owns 600,776 shares of the technology company’s stock valued at $314,302,000 after purchasing an additional 252,488 shares in the last quarter. Finally, Impax Asset Management Group plc acquired a new stake in shares of Tyler Technologies in the 4th quarter valued at $106,740,000. 93.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on TYL. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $325.00 price target on shares of Tyler Technologies in a report on Friday, February 13th. Stifel Nicolaus decreased their price objective on Tyler Technologies from $550.00 to $400.00 and set a “buy” rating on the stock in a report on Friday, February 13th. The Goldman Sachs Group set a $420.00 price objective on Tyler Technologies in a research report on Friday, February 13th. Oppenheimer cut their target price on Tyler Technologies from $510.00 to $450.00 and set an “outperform” rating for the company in a research note on Friday, February 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $750.00 target price on shares of Tyler Technologies in a research report on Tuesday, February 3rd. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.