Key Points
- Jeffrey David Puckett sold 5,174 shares of Tyler Technologies on March 5 at an average price of $369.93 for about $1.914 million, leaving him with 7,754 shares—a 40.02% reduction in his holding.
- Tyler missed quarterly expectations with EPS of $2.64 versus $2.71 expected and revenue of $575.18M versus $591.09M, and the stock trades with a $15.8B market cap and a PE of 51.03 while analysts hold a consensus "Moderate Buy" rating with an average target of $467.54.
Tyler Technologies, Inc. (NYSE:TYL - Get Free Report) COO Jeffrey David Puckett sold 5,174 shares of Tyler Technologies stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $369.93, for a total transaction of $1,914,017.82. Following the completion of the sale, the chief operating officer owned 7,754 shares of the company's stock, valued at $2,868,437.22. This trade represents a 40.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Tyler Technologies Trading Down 1.9%
NYSE:TYL opened at $367.43 on Tuesday. Tyler Technologies, Inc. has a twelve month low of $283.71 and a twelve month high of $621.34. The company has a market cap of $15.80 billion, a PE ratio of 51.03, a P/E/G ratio of 2.52 and a beta of 0.90. The company's 50 day moving average is $386.08 and its two-hundred day moving average is $458.29.
Tyler Technologies (NYSE:TYL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The technology company reported $2.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.71 by ($0.07). Tyler Technologies had a return on equity of 10.42% and a net margin of 13.53%.The company had revenue of $575.18 million during the quarter, compared to analysts' expectations of $591.09 million. During the same period in the prior year, the business posted $2.43 EPS. The company's quarterly revenue was up 6.3% on a year-over-year basis. As a group, analysts expect that Tyler Technologies, Inc. will post 8.52 EPS for the current fiscal year.
Institutional Trading of Tyler Technologies
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. acquired a new stake in shares of Tyler Technologies during the 1st quarter valued at about $38,000. NewEdge Advisors LLC increased its stake 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 valued at $146,000 after purchasing an additional 38 shares in the last quarter. Woodline Partners LP acquired a new position in Tyler Technologies in the 1st quarter worth about $2,102,000. Geneos Wealth Management Inc. boosted its position in Tyler Technologies by 137.9% during the first quarter. Geneos Wealth Management Inc. now owns 69 shares of the technology company's stock worth $40,000 after purchasing an additional 40 shares in the last quarter. Finally, Andra AP fonden purchased a new position in Tyler Technologies during the second quarter worth approximately $1,493,000. Institutional investors and hedge funds own 93.30% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have commented on TYL shares. Piper Sandler reaffirmed an "overweight" rating and set a $543.00 price target (down from $671.00) on shares of Tyler Technologies in a research report on Friday, February 13th. The Goldman Sachs Group set a $420.00 price objective on Tyler Technologies in a report on Friday, February 13th. Needham & Company LLC reaffirmed a "buy" rating and set a $750.00 target price on shares of Tyler Technologies in a report on Tuesday, February 3rd. Robert W. Baird set a $440.00 target price on Tyler Technologies in a research report on Friday, February 13th. Finally, Oppenheimer cut their price target on shares of Tyler Technologies from $510.00 to $450.00 and set an "outperform" rating on the stock in a report on Friday, February 13th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $467.54.
Read Our Latest Stock Analysis on Tyler Technologies
Tyler Technologies Company Profile
(
Get Free Report)
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.
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