Tyler Technologies, Inc. (NYSE:TYL) CEO Sells $2,954,900.00 in Stock

Tyler Technologies, Inc. (NYSE:TYL) CEO H Lynn Moore, Jr. sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $590.98, for a total transaction of $2,954,900.00. Following the completion of the transaction, the chief executive officer now owns 75,000 shares in the company, valued at $44,323,500. The transaction was disclosed in a filing with the SEC, which is available at this link.

Tyler Technologies Price Performance

TYL opened at $581.96 on Friday. Tyler Technologies, Inc. has a 52-week low of $361.16 and a 52-week high of $598.93. The company has a 50 day moving average of $564.01 and a two-hundred day moving average of $492.55. The company has a market cap of $24.83 billion, a P/E ratio of 131.67, a P/E/G ratio of 5.42 and a beta of 0.78. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.19.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.06. The firm had revenue of $540.98 million during the quarter, compared to the consensus estimate of $541.01 million. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.53 EPS. On average, analysts expect that Tyler Technologies, Inc. will post 7.21 earnings per share for the current year.

Hedge Funds Weigh In On Tyler Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Independence Bank of Kentucky acquired a new stake in Tyler Technologies in the second quarter valued at approximately $25,000. Kapitalo Investimentos Ltda purchased a new position in shares of Tyler Technologies in the fourth quarter valued at $26,000. Covestor Ltd boosted its stake in shares of Tyler Technologies by 153.6% in the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock valued at $30,000 after purchasing an additional 43 shares during the period. Blue Trust Inc. grew its holdings in Tyler Technologies by 329.4% during the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock valued at $37,000 after purchasing an additional 56 shares in the last quarter. Finally, Lynx Investment Advisory purchased a new stake in Tyler Technologies during the 2nd quarter worth $38,000. 93.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TYL shares. Piper Sandler upped their price objective on shares of Tyler Technologies from $529.00 to $625.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Truist Financial restated a “buy” rating and set a $600.00 price objective (up previously from $560.00) on shares of Tyler Technologies in a report on Friday, July 26th. Barclays upped their target price on Tyler Technologies from $515.00 to $577.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Needham & Company LLC reissued a “buy” rating and issued a $600.00 price target on shares of Tyler Technologies in a research note on Thursday, July 25th. Finally, DA Davidson lifted their price target on Tyler Technologies from $456.00 to $525.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $582.31.

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.