Insider Selling: Tyler Technologies, Inc. (NYSE:TYL) Insider Sells 6,000 Shares of Stock

Tyler Technologies, Inc. (NYSE:TYL) insider John S. Marr, Jr. sold 6,000 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the completion of the sale, the insider now directly owns 6,983 shares of the company’s stock, valued at $4,322,477. The trade was a 46.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Tyler Technologies Trading Up 0.6 %

Tyler Technologies stock opened at $568.69 on Thursday. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average price of $599.55 and a two-hundred day moving average price of $598.81. The firm has a market capitalization of $24.46 billion, a price-to-earnings ratio of 93.84, a PEG ratio of 4.93 and a beta of 0.80. Tyler Technologies, Inc. has a 52-week low of $397.80 and a 52-week high of $661.31.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. Sell-side analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Institutional Trading of Tyler Technologies

A number of institutional investors have recently made changes to their positions in TYL. Norges Bank acquired a new stake in shares of Tyler Technologies in the 4th quarter worth approximately $528,465,000. Van ECK Associates Corp lifted its stake in shares of Tyler Technologies by 1,991.8% in the 4th quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock worth $317,486,000 after acquiring an additional 524,259 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Tyler Technologies in the 4th quarter worth approximately $159,947,000. JPMorgan Chase & Co. lifted its stake in shares of Tyler Technologies by 148.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock worth $269,369,000 after acquiring an additional 275,511 shares during the period. Finally, Seilern Investment Management Ltd acquired a new stake in Tyler Technologies during the fourth quarter valued at approximately $105,549,000. 93.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Barclays boosted their price objective on shares of Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. The Goldman Sachs Group boosted their price objective on shares of Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. DA Davidson reaffirmed a “neutral” rating and set a $575.00 price objective on shares of Tyler Technologies in a research report on Thursday, January 30th. Piper Sandler boosted their price objective on shares of Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Finally, StockNews.com downgraded shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Monday, February 24th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $676.25.

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.