Insider Selling: Tyler Technologies, Inc. (NYSE:TYL) CEO Sells $3,786,375.00 in Stock

Tyler Technologies, Inc. (NYSE:TYL) CEO H Lynn Moore, Jr. sold 6,250 shares of Tyler Technologies stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $605.82, for a total transaction of $3,786,375.00. Following the completion of the sale, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at approximately $45,436,500. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Tyler Technologies Price Performance

TYL opened at $623.22 on Monday. Tyler Technologies, Inc. has a fifty-two week low of $397.80 and a fifty-two week high of $631.43. The firm has a 50-day moving average of $590.93 and a 200 day moving average of $542.35. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a market cap of $26.67 billion, a P/E ratio of 113.73, a PEG ratio of 5.62 and a beta of 0.77.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share 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 the consensus estimate of $547.34 million. During the same period in the prior year, the firm earned $1.66 EPS. The company’s revenue was up 9.8% compared to the same quarter last year. On average, research analysts expect that Tyler Technologies, Inc. will post 7.39 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TYL. Evercore ISI upgraded shares of Tyler Technologies to a “hold” rating in a report on Friday, July 26th. BTIG Research lifted their price target on Tyler Technologies from $550.00 to $630.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Robert W. Baird increased their price objective on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Truist Financial reaffirmed a “buy” rating and set a $685.00 target price (up previously from $600.00) on shares of Tyler Technologies in a research report on Friday, October 25th. Finally, 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. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $642.62.

Institutional Trading of Tyler Technologies

A number of large investors have recently bought and sold shares of TYL. Bessemer Group Inc. grew its stake in shares of Tyler Technologies by 39.4% during the 1st quarter. Bessemer Group Inc. now owns 6,840 shares of the technology company’s stock worth $2,906,000 after acquiring an additional 1,935 shares during the period. State Board of Administration of Florida Retirement System boosted its position in Tyler Technologies by 7.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 46,724 shares of the technology company’s stock worth $19,858,000 after purchasing an additional 3,198 shares during the period. Natixis increased its stake in shares of Tyler Technologies by 114.0% in the first quarter. Natixis now owns 2,253 shares of the technology company’s stock worth $958,000 after purchasing an additional 1,200 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of Tyler Technologies by 143.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 1,794 shares of the technology company’s stock valued at $762,000 after purchasing an additional 1,058 shares during the period. Finally, Tidal Investments LLC raised its position in shares of Tyler Technologies by 64.8% in the first quarter. Tidal Investments LLC now owns 2,953 shares of the technology company’s stock valued at $1,253,000 after purchasing an additional 1,161 shares during the period. 93.30% of the stock is owned by hedge funds and other institutional investors.

About Tyler Technologies

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.