Tyler Technologies (NYSE:TYL) Director Sells $567,003.36 in Stock

Tyler Technologies, Inc. (NYSE:TYL) Director Glenn Carter sold 1,624 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $349.14, for a total transaction of $567,003.36. Following the completion of the transaction, the director directly owned 5,298 shares of the company’s stock, valued at $1,849,743.72. This trade represents a 23.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Tyler Technologies Trading Down 1.2%

NYSE TYL opened at $344.44 on Thursday. The stock’s 50 day moving average is $372.21 and its two-hundred day moving average is $448.77. The company has a market capitalization of $14.81 billion, a price-to-earnings ratio of 47.84, a PEG ratio of 2.34 and a beta of 0.90. Tyler Technologies, Inc. has a 1-year low of $283.71 and a 1-year high of $621.34.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, February 11th. The technology company reported $2.64 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.07). The company had revenue of $575.18 million during the quarter, compared to the consensus estimate of $591.09 million. Tyler Technologies had a net margin of 13.53% and a return on equity of 10.42%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.43 earnings per share. On average, analysts predict that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Institutional Trading of Tyler Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TYL. Root Financial Partners LLC bought a new position in shares of Tyler Technologies in the 3rd quarter valued at about $28,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Tyler Technologies during the second quarter worth approximately $32,000. DV Equities LLC bought a new stake in shares of Tyler Technologies during the fourth quarter worth approximately $27,000. Salomon & Ludwin LLC lifted its holdings in Tyler Technologies by 6,100.0% in the fourth quarter. Salomon & Ludwin LLC now owns 62 shares of the technology company’s stock valued at $27,000 after buying an additional 61 shares during the period. Finally, Elyxium Wealth LLC acquired a new position in Tyler Technologies in the fourth quarter valued at approximately $29,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on TYL. Needham & Company LLC reiterated a “buy” rating and set a $750.00 price objective on shares of Tyler Technologies in a research note on Tuesday, February 3rd. Wells Fargo & Company lowered their target price on shares of Tyler Technologies from $420.00 to $335.00 and set an “equal weight” rating on the stock in a report on Friday, February 13th. Cantor Fitzgerald reiterated a “neutral” rating and set a $325.00 target price on shares of Tyler Technologies in a research report on Friday, February 13th. DA Davidson reissued a “buy” rating and set a $460.00 price target on shares of Tyler Technologies in a report on Tuesday, February 17th. Finally, The Goldman Sachs Group set a $420.00 price target on shares of Tyler Technologies in a research report on Friday, February 13th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $467.54.

Tyler Technologies Company Profile

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler’s product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.