Key Points
- Director Glenn Carter sold 1,624 shares on March 12 at an average price of $349.14 for a total of $567,003.36, trimming his stake by 23.46% to 5,298 shares valued at about $1.85 million.
- Tyler missed quarterly expectations, reporting EPS of $2.64 vs. $2.71 expected and revenue of $575.18 million vs. $591.09 million, although revenue was up 6.3% year-over-year.
- The stock carries a consensus rating of "Moderate Buy" from analysts (12 Buys, 3 Holds) with a consensus price target of $467.54 and a market cap around $14.98 billion.
Tyler Technologies, Inc. (NYSE:TYL - Get Free Report) Director Glenn Carter sold 1,624 shares of the stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $349.14, for a total value of $567,003.36. Following the sale, the director owned 5,298 shares in the company, valued at $1,849,743.72. The trade was a 23.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Tyler Technologies Stock Down 0.4%
NYSE TYL opened at $348.50 on Tuesday. Tyler Technologies, Inc. has a 52 week low of $283.71 and a 52 week high of $621.34. The firm has a market capitalization of $14.98 billion, a price-to-earnings ratio of 48.40, a PEG ratio of 2.35 and a beta of 0.90. The company has a fifty day moving average of $376.18 and a two-hundred day moving average of $451.01.
Tyler Technologies (NYSE:TYL - Get Free Report) last announced its earnings results on Wednesday, February 11th. The technology company reported $2.64 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.07). The firm had revenue of $575.18 million during the quarter, compared to analysts' expectations of $591.09 million. Tyler Technologies had a net margin of 13.53% and a return on equity of 10.42%. The company's revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.43 EPS. Equities research analysts anticipate that Tyler Technologies, Inc. will post 8.52 EPS for the current year.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on TYL. DA Davidson reissued a "buy" rating and issued a $460.00 price objective on shares of Tyler Technologies in a research report on Tuesday, February 17th. TD Cowen dropped their target price on Tyler Technologies from $600.00 to $500.00 and set a "buy" rating for the company in a research report on Friday, February 13th. Wells Fargo & Company cut their target price on Tyler Technologies from $420.00 to $335.00 and set an "equal weight" rating on the stock in a research note on Friday, February 13th. Robert W. Baird set a $440.00 price target on Tyler Technologies in a report on Friday, February 13th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Tyler Technologies in a research note on Friday, January 9th. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $467.54.
View Our Latest Report on Tyler Technologies
Institutional Investors Weigh In On Tyler Technologies
Several large investors have recently added to or reduced their stakes in TYL. Corient Private Wealth LLC increased its position in shares of Tyler Technologies by 18.0% during the fourth quarter. Corient Private Wealth LLC now owns 4,857 shares of the technology company's stock worth $2,209,000 after acquiring an additional 741 shares during the period. Redwood Family Wealth LLC purchased a new stake in shares of Tyler Technologies in the fourth quarter valued at approximately $659,000. Bayban bought a new position in Tyler Technologies in the fourth quarter worth approximately $30,000. Pacer Advisors Inc. grew its stake in Tyler Technologies by 21.1% in the fourth quarter. Pacer Advisors Inc. now owns 31,252 shares of the technology company's stock worth $14,187,000 after purchasing an additional 5,451 shares in the last quarter. Finally, Virtu Financial LLC increased its holdings in Tyler Technologies by 19.6% during the 4th quarter. Virtu Financial LLC now owns 874 shares of the technology company's stock worth $396,000 after purchasing an additional 143 shares during the period. 93.30% of the stock is owned by hedge funds and other institutional investors.
About Tyler Technologies
(
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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