Jeffrey David Puckett Sells 5,174 Shares of Tyler Technologies (NYSE:TYL) Stock

Tyler Technologies, Inc. (NYSE:TYL) COO Jeffrey David Puckett sold 5,174 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $369.93, for a total value of $1,914,017.82. Following the transaction, the chief operating officer owned 7,754 shares of the company’s stock, valued at $2,868,437.22. The trade was a 40.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Tyler Technologies Stock Performance

Shares of Tyler Technologies stock opened at $354.79 on Wednesday. The stock has a market capitalization of $15.25 billion, a P/E ratio of 49.28, a P/E/G ratio of 2.47 and a beta of 0.90. Tyler Technologies, Inc. has a 52-week low of $283.71 and a 52-week high of $621.34. The stock’s 50-day simple moving average is $384.01 and its 200 day simple moving average is $456.84.

Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, February 11th. The technology company reported $2.64 earnings per share for the quarter, missing analysts’ consensus estimates 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%.Tyler Technologies’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.43 EPS. Equities research analysts forecast that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Tyler Technologies

Several hedge funds have recently added to or reduced their stakes in TYL. Salomon & Ludwin LLC increased 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 purchasing an additional 61 shares during the last quarter. DV Equities LLC bought a new stake in Tyler Technologies in the 4th quarter worth approximately $27,000. Root Financial Partners LLC bought a new stake in Tyler Technologies in the 3rd quarter worth approximately $28,000. Elyxium Wealth LLC purchased a new stake in Tyler Technologies in the fourth quarter worth approximately $29,000. Finally, Bayban purchased a new stake in Tyler Technologies in the fourth quarter worth approximately $30,000. Institutional investors own 93.30% of the company’s stock.

Wall Street Analyst Weigh In

TYL has been the subject of a number of recent research reports. Wells Fargo & Company reduced 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 note on Friday, February 13th. Cantor Fitzgerald restated a “neutral” rating and set a $325.00 target price on shares of Tyler Technologies in a research report on Friday, February 13th. BTIG Research cut their price target on Tyler Technologies from $560.00 to $470.00 and set a “buy” rating for the company in a report on Monday, February 9th. TD Cowen reduced their price target on Tyler Technologies from $600.00 to $500.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Finally, The Goldman Sachs Group set a $420.00 price objective on Tyler Technologies in a research note on Friday, February 13th. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Tyler Technologies currently has an average rating of “Moderate Buy” and an average 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.