Glenn Carter Sells 1,624 Shares of Tyler Technologies (NYSE:TYL) Stock

Tyler Technologies, Inc. (NYSE:TYL) Director Glenn Carter sold 1,624 shares of the business’s stock in a transaction that occurred 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 transaction, the director owned 5,298 shares of the company’s stock, valued at approximately $1,849,743.72. This represents a 23.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Tyler Technologies Stock Performance

TYL opened at $348.62 on Wednesday. The firm’s fifty day moving average is $374.28 and its two-hundred day moving average is $449.51. The firm has a market cap of $14.99 billion, a PE ratio of 48.42, a price-to-earnings-growth ratio of 2.34 and a beta of 0.90. Tyler Technologies, Inc. has a twelve month low of $283.71 and a twelve month high of $621.34.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on TYL. Needham & Company LLC restated a “buy” rating and issued a $750.00 price target on shares of Tyler Technologies in a report on Tuesday, February 3rd. BTIG Research cut their price objective on Tyler Technologies from $560.00 to $470.00 and set a “buy” rating on the stock in a report on Monday, February 9th. Wells Fargo & Company decreased their price objective on 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. Cantor Fitzgerald reissued a “neutral” rating and set a $325.00 target price on shares of Tyler Technologies in a research note on Friday, February 13th. Finally, Barclays cut their price target on shares of Tyler Technologies from $715.00 to $410.00 and set an “overweight” 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 assigned 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

Institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. bought a new stake in shares of Tyler Technologies during the first quarter valued at approximately $38,000. NewEdge Advisors LLC lifted its holdings in shares of Tyler Technologies by 17.8% in the 1st quarter. NewEdge Advisors LLC now owns 251 shares of the technology company’s stock worth $146,000 after purchasing an additional 38 shares in the last quarter. Woodline Partners LP bought a new position in shares of Tyler Technologies in the 1st quarter worth $2,102,000. Geneos Wealth Management Inc. grew its position in Tyler Technologies by 137.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 69 shares of the technology company’s stock valued at $40,000 after purchasing an additional 40 shares during the period. Finally, Savant Capital LLC grew its position in Tyler Technologies by 26.0% in the 2nd quarter. Savant Capital LLC now owns 765 shares of the technology company’s stock valued at $454,000 after purchasing an additional 158 shares during the period. 93.30% of the stock is owned by institutional investors and hedge funds.

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.