Insider Selling: Tyler Technologies, Inc. (NYSE:TYL) Insider Sells 5,000 Shares of Stock

Tyler Technologies, Inc. (NYSE:TYL) insider John S. Marr, Jr. sold 5,000 shares of Tyler Technologies stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $558.86, for a total transaction of $2,794,300.00. Following the sale, the insider now owns 6,983 shares of the company’s stock, valued at approximately $3,902,519.38. The trade was a 41.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Tyler Technologies Stock Performance

NYSE:TYL opened at $568.68 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. The company has a fifty day moving average of $561.45 and a two-hundred day moving average of $590.38. The stock has a market capitalization of $24.52 billion, a PE ratio of 93.84, a P/E/G ratio of 4.93 and a beta of 0.88. Tyler Technologies, Inc. has a fifty-two week low of $458.50 and a fifty-two week high of $661.31.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.22. The company had revenue of $562.43 million during the quarter, compared to analysts’ expectations of $556.45 million. Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.20 earnings per share. As a group, research analysts forecast that Tyler Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tyler Technologies

A number of large investors have recently added to or reduced their stakes in the stock. Qtron Investments LLC raised its position in Tyler Technologies by 79.6% during the first quarter. Qtron Investments LLC now owns 799 shares of the technology company’s stock worth $465,000 after acquiring an additional 354 shares during the period. Aptus Capital Advisors LLC grew its holdings in shares of Tyler Technologies by 16.7% during the first quarter. Aptus Capital Advisors LLC now owns 21,250 shares of the technology company’s stock worth $12,355,000 after buying an additional 3,046 shares in the last quarter. Brooklyn Investment Group grew its holdings in shares of Tyler Technologies by 31.1% during the first quarter. Brooklyn Investment Group now owns 173 shares of the technology company’s stock worth $101,000 after buying an additional 41 shares in the last quarter. Versor Investments LP grew its holdings in shares of Tyler Technologies by 64.7% during the first quarter. Versor Investments LP now owns 1,776 shares of the technology company’s stock worth $1,033,000 after buying an additional 698 shares in the last quarter. Finally, Corient IA LLC purchased a new stake in shares of Tyler Technologies during the first quarter worth $454,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on TYL shares. Barclays decreased their price objective on shares of Tyler Technologies from $700.00 to $695.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. Truist Financial reaffirmed a “buy” rating and set a $775.00 target price (up from $685.00) on shares of Tyler Technologies in a report on Friday, February 14th. DA Davidson cut their target price 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. Piper Sandler cut their target price on shares of Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating for the company in a report on Friday, April 25th. Finally, Wells Fargo & Company cut their target price on shares of Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Tyler Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $674.67.

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.