Brian K. Miller Sells 1,200 Shares of Tyler Technologies, Inc. (NYSE:TYL) Stock

Tyler Technologies, Inc. (NYSE:TYL) CFO Brian K. Miller sold 1,200 shares of the company’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $577.66, for a total value of $693,192.00. Following the completion of the sale, the chief financial officer now owns 17,475 shares in the company, valued at $10,094,608.50. This trade represents a 6.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Tyler Technologies Stock Down 0.5%

TYL stock opened at $583.69 on Thursday. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. The business has a 50 day moving average price of $561.95 and a two-hundred day moving average price of $585.54. The company has a market cap of $25.17 billion, a price-to-earnings ratio of 96.32, a P/E/G ratio of 4.93 and a beta of 0.84. Tyler Technologies, Inc. has a twelve month low of $458.50 and a twelve month high of $661.31.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $0.22. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The firm had revenue of $562.43 million during the quarter, compared to the consensus estimate of $556.45 million. During the same period last year, the company earned $2.20 earnings per share. The business’s revenue was up 10.3% compared to the same quarter last year. Analysts anticipate that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TYL. Norges Bank bought a new position in shares of Tyler Technologies during the 4th quarter worth approximately $528,465,000. GAMMA Investing LLC boosted its stake in shares of Tyler Technologies by 57,694.7% during the 1st quarter. GAMMA Investing LLC now owns 878,480 shares of the technology company’s stock worth $510,739,000 after acquiring an additional 876,960 shares during the period. Van ECK Associates Corp boosted its stake in shares of Tyler Technologies by 1,991.8% during the 4th quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock worth $317,486,000 after acquiring an additional 524,259 shares during the period. Raymond James Financial Inc. bought a new position in shares of Tyler Technologies during the 4th quarter worth approximately $159,947,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Tyler Technologies by 148.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock worth $269,369,000 after acquiring an additional 275,511 shares during the period. 93.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Wall Street Zen cut Tyler Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. Truist Financial reaffirmed a “buy” rating and set a $775.00 price target (up previously from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. The Goldman Sachs Group increased their target price on Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Robert W. Baird cut their target price on Tyler Technologies from $785.00 to $700.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $750.00 price target on shares of Tyler Technologies in a research report on Tuesday, May 13th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $680.50.

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.