Tyler Technologies (NYSE:TYL) Director Sells $567,003.36 in Stock

Tyler Technologies, Inc. (NYSE:TYL) Director Glenn Carter sold 1,624 shares of Tyler Technologies stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $349.14, for a total transaction of $567,003.36. Following the completion of the sale, the director owned 5,298 shares in the company, valued at $1,849,743.72. The trade was a 23.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Tyler Technologies Trading Up 0.2%

Shares of Tyler Technologies stock traded up $0.81 during trading hours on Monday, reaching $350.60. 246,980 shares of the company’s stock were exchanged, compared to its average volume of 696,067. The company has a 50 day moving average of $378.04 and a two-hundred day moving average of $452.47. Tyler Technologies, Inc. has a fifty-two week low of $283.71 and a fifty-two week high of $621.34. The stock has a market cap of $15.07 billion, a P/E ratio of 48.75, a P/E/G ratio of 2.35 and a beta of 0.90.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TYL shares. Barclays dropped their price objective on Tyler Technologies from $715.00 to $410.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. Stifel Nicolaus lowered their target price on shares of Tyler Technologies from $550.00 to $400.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Robert W. Baird set a $440.00 price target on shares of Tyler Technologies in a research report on Friday, February 13th. TD Cowen cut their price target on shares of Tyler Technologies from $600.00 to $500.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Tyler Technologies in a research note on Friday, January 9th. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $467.54.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Corient Private Wealth LLC lifted its holdings in Tyler Technologies by 18.0% during the 4th quarter. Corient Private Wealth LLC now owns 4,857 shares of the technology company’s stock valued at $2,209,000 after purchasing an additional 741 shares during the last quarter. Redwood Family Wealth LLC acquired a new position in shares of Tyler Technologies in the fourth quarter valued at $659,000. Bayban bought a new position in shares of Tyler Technologies in the fourth quarter valued at about $30,000. Pacer Advisors Inc. raised its position in shares of Tyler Technologies by 21.1% in the fourth quarter. Pacer Advisors Inc. now owns 31,252 shares of the technology company’s stock valued at $14,187,000 after purchasing an additional 5,451 shares during the period. Finally, Virtu Financial LLC lifted its stake in shares of Tyler Technologies by 19.6% during the 4th quarter. Virtu Financial LLC now owns 874 shares of the technology company’s stock worth $396,000 after buying an additional 143 shares during the last quarter. 93.30% of the stock is currently owned by institutional investors.

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.