Insider Selling: Tyler Technologies (NYSE:TYL) CEO Sells $3,931,700.00 in Stock

Tyler Technologies, Inc. (NYSE:TYL) CEO H. Moore, Jr. sold 10,000 shares of the stock in a transaction on Friday, October 30th. The shares were sold at an average price of $393.17, for a total transaction of $3,931,700.00. Following the completion of the sale, the chief executive officer owned 100,392 shares of the company’s stock, valued at approximately $39,471,122.64. This represents a 9.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Tyler Technologies Stock Performance

Shares of TYL opened at $430.90 on Friday. The firm has a 50-day moving average of $356.96 and a 200-day moving average of $336.91. Tyler Technologies, Inc. has a one year low of $270.71 and a one year high of $481.57. The company has a market cap of $17.13 billion, a PE ratio of 54.27, a price-to-earnings-growth ratio of 2.79 and a beta of 0.74. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.33 and a quick ratio of 1.33.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, October 28th. The technology company reported $3.52 earnings per share for the quarter, topping the consensus estimate of $3.48 by $0.04. The company had revenue of $647.57 million for the quarter, compared to analyst estimates of $651.38 million. Tyler Technologies had a net margin of 13.51% and a return on equity of 12.21%. Tyler Technologies’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.91 EPS. As a group, equities analysts forecast that Tyler Technologies, Inc. will post 10.11 earnings per share for the current year.

Institutional Investors Weigh In On Tyler Technologies

Hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC grew its stake in Tyler Technologies by 34.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,915 shares of the technology company’s stock worth $962,000 after buying an additional 753 shares in the last quarter. Leelyn Smith LLC increased its position in Tyler Technologies by 13.8% during the 3rd quarter. Leelyn Smith LLC now owns 4,340 shares of the technology company’s stock worth $1,383,000 after purchasing an additional 526 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Tyler Technologies by 4.8% during the third quarter. Parallel Advisors LLC now owns 674 shares of the technology company’s stock worth $215,000 after buying an additional 31 shares in the last quarter. Kestra Private Wealth Services LLC acquired a new position in Tyler Technologies in the 3rd quarter worth about $664,000. Finally, Markel Group Inc. bought a new position in Tyler Technologies in the 3rd quarter valued at approximately $1,720,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on TYL. DA Davidson reissued a “buy” rating and set a $460.00 price target on shares of Tyler Technologies in a research report on Tuesday, October 27th. Zacks Research cut Tyler Technologies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 2nd. Guggenheim began coverage on Tyler Technologies in a research note on Wednesday, July 22nd. They set a “buy” rating and a $440.00 target price for the company. Piper Sandler started coverage on Tyler Technologies in a report on Monday, September 28th. They set an “overweight” rating and a $450.00 target price on the stock. Finally, Weiss Ratings raised Tyler Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $440.88.

About Tyler Technologies

Tyler Technologies, Inc provides integrated software and technology services to public-sector organizations. Its customers include municipalities, counties, states, courts, school districts, public safety agencies, and other government entities. The company’s solutions are designed to help public organizations manage operations, improve service delivery, and engage with residents and constituents.

Tyler’s product portfolio includes enterprise resource planning and financial management software, property tax and appraisal systems, court and justice solutions, public safety and emergency communications platforms, permitting and licensing tools, and software for schools and elections.