Tyler Technologies, Inc. (TYL) Director Sells $53,154.75 in Stock

Tyler Technologies, Inc. (NYSE:TYL) Director Luther King, Jr. sold 275 shares of the company’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $193.29, for a total value of $53,154.75. Following the completion of the transaction, the director now directly owns 72,864 shares of the company’s stock, valued at approximately $14,083,882.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

TYL traded up $0.20 on Wednesday, reaching $187.50. The stock had a trading volume of 1,370,889 shares, compared to its average volume of 215,617. Tyler Technologies, Inc. has a fifty-two week low of $168.12 and a fifty-two week high of $252.47. The stock has a market cap of $7.57 billion, a PE ratio of 58.96, a PEG ratio of 5.15 and a beta of 0.92.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, October 31st. The technology company reported $1.23 EPS for the quarter, meeting analysts’ consensus estimates of $1.23. Tyler Technologies had a return on equity of 11.19% and a net margin of 19.47%. The firm had revenue of $236.10 million for the quarter, compared to analyst estimates of $240.98 million. During the same quarter in the previous year, the company posted $1.05 EPS. The business’s revenue was up 10.0% on a year-over-year basis. As a group, equities analysts forecast that Tyler Technologies, Inc. will post 3.77 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Harvest Fund Management Co. Ltd grew its position in shares of Tyler Technologies by 390.6% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 574 shares of the technology company’s stock valued at $141,000 after buying an additional 457 shares during the last quarter. Engineers Gate Manager LP bought a new stake in shares of Tyler Technologies in the 3rd quarter valued at about $208,000. Zions Bancorporation bought a new stake in shares of Tyler Technologies in the 3rd quarter valued at about $224,000. Alps Advisors Inc. bought a new stake in shares of Tyler Technologies in the 2nd quarter valued at about $209,000. Finally, Welch & Forbes LLC bought a new stake in shares of Tyler Technologies in the 2nd quarter valued at about $222,000. Hedge funds and other institutional investors own 92.11% of the company’s stock.

A number of brokerages have issued reports on TYL. Zacks Investment Research cut Tyler Technologies from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. TheStreet cut Tyler Technologies from a “b” rating to a “c+” rating in a report on Thursday, November 1st. Robert W. Baird lowered their target price on Tyler Technologies from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, November 2nd. KeyCorp reaffirmed a “hold” rating on shares of Tyler Technologies in a report on Friday, November 2nd. Finally, B. Riley upped their target price on Tyler Technologies from $200.00 to $206.00 and gave the stock a “neutral” rating in a report on Monday, July 30th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $233.36.

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About Tyler Technologies

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. It operates through two segments, Enterprise Software, and Appraisal and Tax. The company's financial management solutions include modular fund accounting systems for government agencies or not-for-profit entities; and utility billing systems for the billing and collection of metered and non-metered services.

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