Tyler Technologies, Inc. (NYSE:TYL) CFO Brian K. Miller Sells 2,000 Shares

Tyler Technologies, Inc. (NYSE:TYL) CFO Brian K. Miller sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $567.96, for a total transaction of $1,135,920.00. Following the completion of the transaction, the chief financial officer now directly owns 11,950 shares of the company’s stock, valued at $6,787,122. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Tyler Technologies Stock Performance

Tyler Technologies stock traded down $4.29 during mid-day trading on Friday, hitting $575.23. The company had a trading volume of 127,928 shares, compared to its average volume of 226,954. The company has a market capitalization of $24.55 billion, a price-to-earnings ratio of 131.11, a P/E/G ratio of 5.31 and a beta of 0.76. Tyler Technologies, Inc. has a 12-month low of $361.16 and a 12-month high of $593.50. The company’s fifty day moving average is $514.54 and its 200-day moving average is $466.13. The company has a current ratio of 1.06, a quick ratio of 0.94 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, topping analysts’ consensus estimates of $2.34 by $0.06. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. The firm had revenue of $540.98 million for the quarter, compared to the consensus estimate of $541.01 million. During the same period in the prior year, the firm posted $1.53 earnings per share. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. Equities research analysts predict that Tyler Technologies, Inc. will post 7.23 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TYL. Oppenheimer raised their price target on shares of Tyler Technologies from $550.00 to $625.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Truist Financial restated a “buy” rating and issued a $600.00 target price (up previously from $560.00) on shares of Tyler Technologies in a research note on Friday, July 26th. Robert W. Baird lifted their price target on Tyler Technologies from $500.00 to $525.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. DA Davidson increased their price objective on Tyler Technologies from $456.00 to $525.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, BTIG Research lifted their target price on Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tyler Technologies has a consensus rating of “Moderate Buy” and an average target price of $582.31.

Institutional Investors Weigh In On Tyler Technologies

A number of institutional investors have recently modified their holdings of TYL. Vanguard Group Inc. boosted its position in Tyler Technologies by 1.1% during the first quarter. Vanguard Group Inc. now owns 5,022,053 shares of the technology company’s stock worth $2,134,423,000 after purchasing an additional 53,005 shares in the last quarter. Principal Financial Group Inc. grew its stake in Tyler Technologies by 3.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,309,715 shares of the technology company’s stock valued at $556,642,000 after acquiring an additional 41,485 shares during the period. Norges Bank purchased a new stake in Tyler Technologies in the 4th quarter worth $459,691,000. Franklin Resources Inc. raised its position in Tyler Technologies by 6.7% during the fourth quarter. Franklin Resources Inc. now owns 1,040,341 shares of the technology company’s stock worth $434,987,000 after acquiring an additional 64,889 shares during the period. Finally, Van ECK Associates Corp raised its position in Tyler Technologies by 6.3% during the first quarter. Van ECK Associates Corp now owns 922,942 shares of the technology company’s stock worth $392,259,000 after acquiring an additional 54,926 shares during the period. 93.30% of the stock is currently owned by institutional investors and hedge funds.

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.