Key Points
- CEO H. Lynn Moore Jr. sold 10,000 Tyler Technologies shares for about $3.93 million at an average price of $393.17, reducing his stake by 9.06% to 100,392 shares.
- Quarterly earnings per share came in at $3.52, topping estimates of $3.48, while revenue of $647.57 million fell short of forecasts; revenue rose 8.7% year over year.
- Analysts’ consensus rating was Moderate Buy, with an average price target of $440.88.
Tyler Technologies, Inc. (NYSE:TYL - Get Free Report) CEO H Lynn Moore, Jr. sold 10,000 shares of the firm's stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $393.17, for a total value of $3,931,700.00. Following the sale, the chief executive officer owned 100,392 shares of the company's stock, valued at $39,471,122.64. The trade was a 9.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Tyler Technologies Trading Up 0.2%
NYSE:TYL opened at $404.60 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.33 and a quick ratio of 1.33. Tyler Technologies, Inc. has a fifty-two week low of $270.71 and a fifty-two week high of $481.57. The stock's 50-day moving average is $353.93 and its two-hundred day moving average is $337.07. The stock has a market cap of $16.09 billion, a PE ratio of 50.96, a price-to-earnings-growth ratio of 2.66 and a beta of 0.74.
Tyler Technologies (NYSE:TYL - Get Free Report) last issued its earnings results on Wednesday, October 28th. The technology company reported $3.52 earnings per share for the quarter, beating analysts' consensus estimates of $3.48 by $0.04. The company had revenue of $647.57 million for the quarter, compared to the consensus estimate of $651.38 million. Tyler Technologies had a return on equity of 12.21% and a net margin of 13.51%. The firm's quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.91 EPS. As a group, equities research analysts forecast that Tyler Technologies, Inc. will post 10.13 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Tyler Technologies
Hedge funds have recently added to or reduced their stakes in the company. Raiffeisen Bank International AG grew its position in Tyler Technologies by 259.3% in the second quarter. Raiffeisen Bank International AG now owns 97 shares of the technology company's stock worth $28,000 after acquiring an additional 70 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Tyler Technologies during the 2nd quarter worth $35,000. Pin Oak Investment Advisors Inc. bought a new position in shares of Tyler Technologies during the 2nd quarter valued at $37,000. Annis Gardner Whiting Capital Advisors LLC raised its holdings in Tyler Technologies by 75.0% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 147 shares of the technology company's stock valued at $50,000 after buying an additional 63 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in Tyler Technologies by 235.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 161 shares of the technology company's stock worth $54,000 after purchasing an additional 113 shares during the last quarter. Institutional investors and hedge funds own 93.30% of the company's stock.
Analyst Ratings Changes
TYL has been the topic of several research reports. BTIG Research upped their price objective on shares of Tyler Technologies from $400.00 to $430.00 and gave the company a "buy" rating in a research note on Friday, October 30th. UBS Group set a $395.00 target price on shares of Tyler Technologies in a research note on Saturday, August 1st. DA Davidson restated a "buy" rating and set a $460.00 price target on shares of Tyler Technologies in a report on Tuesday, October 27th. The Goldman Sachs Group upped their price target on shares of Tyler Technologies from $345.00 to $385.00 and gave the stock a "neutral" rating in a research note on Tuesday. Finally, Guggenheim assumed coverage on Tyler Technologies in a report on Wednesday, July 22nd. They set a "buy" rating and a $440.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $440.88.
Check Out Our Latest Stock Analysis on Tyler Technologies
Tyler Technologies Company Profile
(
Get Free Report)
Tyler Technologies, Inc provides integrated software and technology services to public-sector organizations. Its customers include municipalities, counties, states, courts, school districts, public safety agencies, and other government entities. The company's solutions are designed to help public organizations manage operations, improve service delivery, and engage with residents and constituents.
Tyler's product portfolio includes enterprise resource planning and financial management software, property tax and appraisal systems, court and justice solutions, public safety and emergency communications platforms, permitting and licensing tools, and software for schools and elections.
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