Tyler Technologies (NYSE:TYL) Director Daniel Pope Sells 500 Shares

Tyler Technologies, Inc. (NYSE:TYL) Director Daniel Pope sold 500 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $355.40, for a total transaction of $177,700.00. Following the completion of the sale, the director owned 2,871 shares of the company’s stock, valued at $1,020,353.40. This trade represents a 14.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Tyler Technologies Price Performance

NYSE TYL traded up $8.23 during trading on Thursday, reaching $376.39. 101,166 shares of the company’s stock were exchanged, compared to its average volume of 721,638. The business has a 50 day moving average price of $391.55 and a 200-day moving average price of $463.20. The stock has a market capitalization of $16.18 billion, a P/E ratio of 52.28, a PEG ratio of 2.46 and a beta of 0.90. Tyler Technologies, Inc. has a fifty-two week low of $283.71 and a fifty-two week high of $622.34.

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

Hedge Funds Weigh In On Tyler Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC lifted its position in shares of Tyler Technologies by 6,100.0% during the 4th quarter. Salomon & Ludwin LLC now owns 62 shares of the technology company’s stock valued at $27,000 after acquiring an additional 61 shares during the period. DV Equities LLC acquired a new position in Tyler Technologies in the fourth quarter valued at about $27,000. Root Financial Partners LLC acquired a new position in Tyler Technologies in the third quarter valued at about $28,000. Elyxium Wealth LLC bought a new stake in Tyler Technologies during the fourth quarter worth about $29,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in Tyler Technologies during the second quarter worth about $32,000. Institutional investors own 93.30% of the company’s stock.

Analyst Ratings Changes

TYL has been the subject of a number of research reports. Piper Sandler restated an “overweight” rating and set a $543.00 target price (down from $671.00) on shares of Tyler Technologies in a research note on Friday, February 13th. The Goldman Sachs Group set a $420.00 price target on shares of Tyler Technologies in a report on Friday, February 13th. Wells Fargo & Company cut their price objective on shares of Tyler Technologies from $420.00 to $335.00 and set an “equal weight” rating for the company in a research report on Friday, February 13th. Robert W. Baird set a $440.00 target price on Tyler Technologies in a research report on Friday, February 13th. Finally, Oppenheimer lowered their target price on Tyler Technologies from $510.00 to $450.00 and set an “outperform” rating on the stock in a research note on Friday, February 13th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Tyler Technologies has an average rating of “Moderate Buy” and a consensus target price of $467.54.

About Tyler Technologies

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.