Tyler Technologies, Inc. (NYSE:TYL) Chairman John S. Marr, Jr. sold 16,000 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $347.28, for a total transaction of $5,556,480.00. Following the transaction, the chairman now directly owns 152,838 shares of the company’s stock, valued at approximately $53,077,580.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
TYL traded down $12.07 during midday trading on Friday, hitting $328.26. The company had a trading volume of 8,522 shares, compared to its average volume of 278,907. Tyler Technologies, Inc. has a 52 week low of $245.00 and a 52 week high of $382.92. The company has a market capitalization of $14.08 billion, a price-to-earnings ratio of 73.82, a PEG ratio of 5.77 and a beta of 0.72. The stock’s 50 day moving average price is $349.10 and its 200 day moving average price is $332.84.
Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, July 29th. The technology company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.18. The firm had revenue of $271.09 million during the quarter, compared to analysts’ expectations of $279.40 million. Tyler Technologies had a net margin of 16.96% and a return on equity of 10.05%. The business’s revenue was down 1.5% on a year-over-year basis. During the same period last year, the company earned $1.30 earnings per share. Sell-side analysts forecast that Tyler Technologies, Inc. will post 4.04 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. CIBC Asset Management Inc boosted its holdings in Tyler Technologies by 134.9% during the second quarter. CIBC Asset Management Inc now owns 3,369 shares of the technology company’s stock worth $1,169,000 after purchasing an additional 1,935 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Tyler Technologies by 8.4% during the first quarter. Geode Capital Management LLC now owns 457,713 shares of the technology company’s stock worth $135,624,000 after purchasing an additional 35,648 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Tyler Technologies by 8.3% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 41,814 shares of the technology company’s stock worth $12,400,000 after purchasing an additional 3,193 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in Tyler Technologies during the first quarter worth about $525,000. Finally, Pendal Group Ltd boosted its holdings in Tyler Technologies by 39.3% during the second quarter. Pendal Group Ltd now owns 603 shares of the technology company’s stock worth $209,000 after purchasing an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.
A number of brokerages recently weighed in on TYL. Zacks Investment Research downgraded shares of Tyler Technologies from a “hold” rating to a “sell” rating in a research note on Friday, May 29th. Oppenheimer downgraded shares of Tyler Technologies from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 28th. Royal Bank of Canada began coverage on shares of Tyler Technologies in a research note on Thursday, June 18th. They set an “outperform” rating and a $375.00 target price for the company. Northland Securities lifted their target price on shares of Tyler Technologies from $350.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Finally, Piper Sandler reissued an “overweight” rating and set a $423.00 target price on shares of Tyler Technologies in a research note on Monday, July 20th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $335.92.
About Tyler Technologies
Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. The company operates in two segments, Enterprise Software, and Appraisal and Tax. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools.
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