Tyler Technologies, Inc. (NYSE:TYL) Short Interest Update

Tyler Technologies, Inc. (NYSE:TYL) was the target of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 689,300 shares, a growth of 23.8% from the October 31st total of 556,700 shares. Based on an average trading volume of 264,100 shares, the days-to-cover ratio is currently 2.6 days.

Insiders Place Their Bets

In other Tyler Technologies news, Director Glenn A. Carter sold 3,350 shares of Tyler Technologies stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $582.57, for a total value of $1,951,609.50. Following the completion of the transaction, the director now directly owns 2,654 shares of the company’s stock, valued at $1,546,140.78. The trade was a 55.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John S. Marr, Jr. sold 12,000 shares of Tyler Technologies stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $613.66, for a total value of $7,363,920.00. Following the completion of the transaction, the insider now directly owns 6,983 shares of the company’s stock, valued at approximately $4,285,187.78. This represents a 63.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,350 shares of company stock valued at $24,361,172 in the last three months. 2.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tyler Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. APG Asset Management N.V. increased its stake in Tyler Technologies by 1.4% during the second quarter. APG Asset Management N.V. now owns 1,507,062 shares of the technology company’s stock worth $706,994,000 after acquiring an additional 20,842 shares during the last quarter. Geode Capital Management LLC increased its stake in Tyler Technologies by 2.2% during the third quarter. Geode Capital Management LLC now owns 1,108,908 shares of the technology company’s stock worth $645,585,000 after acquiring an additional 24,284 shares during the last quarter. Franklin Resources Inc. increased its stake in Tyler Technologies by 2.0% during the third quarter. Franklin Resources Inc. now owns 912,746 shares of the technology company’s stock worth $547,354,000 after acquiring an additional 17,943 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Tyler Technologies by 4.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 904,175 shares of the technology company’s stock worth $527,785,000 after acquiring an additional 36,066 shares during the last quarter. Finally, Swedbank AB acquired a new stake in Tyler Technologies during the second quarter worth about $251,390,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Tyler Technologies Price Performance

TYL traded down $3.77 during trading on Monday, reaching $625.40. 294,969 shares of the stock were exchanged, compared to its average volume of 235,043. The business’s 50 day moving average price is $600.16 and its two-hundred day moving average price is $557.28. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market capitalization of $26.77 billion, a price-to-earnings ratio of 113.85, a P/E/G ratio of 5.70 and a beta of 0.77. Tyler Technologies has a 1 year low of $397.80 and a 1 year high of $637.53.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The business had revenue of $543.34 million for the quarter, compared to the consensus estimate of $547.34 million. During the same period in the prior year, the business earned $1.66 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. As a group, equities research analysts anticipate that Tyler Technologies will post 7.36 earnings per share for the current year.

Analyst Ratings Changes

TYL has been the subject of several recent analyst reports. Needham & Company LLC boosted their target price on Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Barclays boosted their target price on Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. JMP Securities lifted their price target on Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research report on Friday, October 25th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $627.00 price target on shares of Tyler Technologies in a research report on Friday, September 13th. Finally, DA Davidson lifted their price target on Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $642.62.

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.