Brian K. Miller Sells 2,500 Shares of Tyler Technologies, Inc. (NYSE:TYL) Stock

Tyler Technologies, Inc. (NYSE:TYL) CFO Brian K. Miller sold 2,500 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $586.97, for a total value of $1,467,425.00. Following the completion of the sale, the chief financial officer now directly owns 11,950 shares of the company’s stock, valued at $7,014,291.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Tyler Technologies Trading Down 1.6 %

NYSE:TYL opened at $578.72 on Wednesday. Tyler Technologies, Inc. has a 1 year low of $361.16 and a 1 year high of $593.50. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a fifty day moving average price of $550.75 and a two-hundred day moving average price of $484.97. The stock has a market capitalization of $24.69 billion, a price-to-earnings ratio of 130.93, a PEG ratio of 5.44 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.40 EPS for the quarter, topping the consensus estimate of $2.34 by $0.06. The business had revenue of $540.98 million for the quarter, compared to analyst estimates of $541.01 million. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.53 EPS. As a group, sell-side analysts anticipate that Tyler Technologies, Inc. will post 7.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and set a $600.00 price target on shares of Tyler Technologies in a research note on Thursday, July 25th. DA Davidson increased their target price on shares of Tyler Technologies from $456.00 to $525.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. JMP Securities boosted their price target on Tyler Technologies from $490.00 to $580.00 and gave the company a “market outperform” rating in a research report on Monday, July 22nd. Piper Sandler increased their price objective on Tyler Technologies from $529.00 to $625.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, Barclays boosted their target price on Tyler Technologies from $515.00 to $577.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Tyler Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $582.31.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Truist Financial Corp increased its holdings in Tyler Technologies by 53.9% during the 2nd quarter. Truist Financial Corp now owns 6,690 shares of the technology company’s stock valued at $3,364,000 after acquiring an additional 2,343 shares in the last quarter. Regal Investment Advisors LLC increased its stake in shares of Tyler Technologies by 10.2% during the 2nd quarter. Regal Investment Advisors LLC now owns 757 shares of the technology company’s stock worth $381,000 after purchasing an additional 70 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Tyler Technologies by 55.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 979 shares of the technology company’s stock worth $492,000 after purchasing an additional 349 shares during the last quarter. Oliver Lagore Vanvalin Investment Group lifted its stake in Tyler Technologies by 3.9% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 3,556 shares of the technology company’s stock valued at $1,788,000 after buying an additional 135 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in Tyler Technologies by 8.1% in the 2nd quarter. Mackenzie Financial Corp now owns 2,595 shares of the technology company’s stock valued at $1,305,000 after buying an additional 195 shares in the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

Tyler Technologies Company Profile

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.