Brian K. Miller Sells 2,500 Shares of Tyler Technologies, Inc. (NYSE:TYL) Stock

Tyler Technologies, Inc. (NYSE:TYL) CFO Brian K. Miller sold 2,500 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $624.41, for a total transaction of $1,561,025.00. Following the completion of the sale, the chief financial officer now owns 11,950 shares in the company, valued at approximately $7,461,699.50. This trade represents a 17.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Tyler Technologies Stock Down 0.4 %

TYL stock opened at $614.28 on Friday. The firm has a fifty day moving average price of $593.46 and a two-hundred day moving average price of $545.54. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. Tyler Technologies, Inc. has a 1-year low of $397.80 and a 1-year high of $631.43. The firm has a market cap of $26.29 billion, a price-to-earnings ratio of 112.10, a PEG ratio of 5.59 and a beta of 0.77.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. The firm had revenue of $543.34 million during the quarter, compared to analyst estimates of $547.34 million. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the company posted $1.66 EPS. Research analysts predict that Tyler Technologies, Inc. will post 7.39 EPS for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Piper Sandler boosted their price target on shares of Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Wells Fargo & Company boosted their price target on shares of Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Oppenheimer increased their price objective on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. StockNews.com upgraded shares of Tyler Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Needham & Company LLC raised their price target on Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Tyler Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $642.62.

Hedge Funds Weigh In On Tyler Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Private Advisor Group LLC boosted its holdings in Tyler Technologies by 40.4% in the first quarter. Private Advisor Group LLC now owns 1,143 shares of the technology company’s stock worth $486,000 after purchasing an additional 329 shares in the last quarter. Empowered Funds LLC grew its stake in Tyler Technologies by 49.7% in the 1st quarter. Empowered Funds LLC now owns 2,414 shares of the technology company’s stock valued at $1,026,000 after buying an additional 801 shares during the last quarter. SG Americas Securities LLC raised its holdings in Tyler Technologies by 60.9% in the 1st quarter. SG Americas Securities LLC now owns 6,862 shares of the technology company’s stock worth $2,916,000 after acquiring an additional 2,596 shares during the period. Forsta AP Fonden boosted its holdings in Tyler Technologies by 17.3% during the first quarter. Forsta AP Fonden now owns 8,800 shares of the technology company’s stock valued at $3,740,000 after acquiring an additional 1,300 shares during the period. Finally, Meeder Advisory Services Inc. grew its position in shares of Tyler Technologies by 11.5% in the first quarter. Meeder Advisory Services Inc. now owns 572 shares of the technology company’s stock valued at $243,000 after purchasing an additional 59 shares during the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

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.