Key Points
- Tyler Technologies COO Jeffrey Puckett sold 10,000 shares for about $4.20 million at an average price of $419.69, reducing his direct ownership by 56.18% to 7,800 shares.
- The company’s latest quarter produced EPS of $3.52, topping estimates of $3.48, while revenue of $647.57 million fell short of expectations; revenue rose 8.7% year over year.
- Analysts maintain a “Moderate Buy” consensus, with an average price target of $440.88. Recent targets include Needham’s increase to $500 and Piper Sandler’s $450 target.
Tyler Technologies, Inc. (NYSE:TYL - Get Free Report) COO Jeffrey Puckett sold 10,000 shares of the stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $419.69, for a total transaction of $4,196,900.00. Following the sale, the chief operating officer directly owned 7,800 shares in the company, valued at $3,273,582. This trade represents a 56.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Jeffrey David Puckett also recently made the following trade(s):
- On Monday, August 24th, Jeffrey Puckett sold 8,500 shares of Tyler Technologies stock. The shares were sold at an average price of $356.44, for a total value of $3,029,740.00.
Tyler Technologies Trading Down 2.3%
Shares of TYL stock opened at $420.33 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $16.71 billion, a P/E ratio of 52.94, a price-to-earnings-growth ratio of 2.66 and a beta of 0.74. Tyler Technologies, Inc. has a twelve month low of $270.71 and a twelve month high of $481.57. The business's 50 day moving average is $357.96 and its two-hundred day moving average is $336.87.
Tyler Technologies (NYSE:TYL - Get Free Report) last released its quarterly 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. Tyler Technologies had a net margin of 13.51% and a return on equity of 12.21%. The business had revenue of $647.57 million for the quarter, compared to the consensus estimate of $651.38 million. During the same quarter last year, the firm earned $2.91 EPS. Tyler Technologies's revenue for the quarter was up 8.7% on a year-over-year basis. Equities analysts forecast that Tyler Technologies, Inc. will post 10.11 EPS for the current year.
Analysts Set New Price Targets
TYL has been the topic of a number of recent research reports. Needham & Company LLC lifted their price objective on shares of Tyler Technologies from $400.00 to $500.00 and gave the company a "buy" rating in a research note on Tuesday, October 27th. Zacks Research downgraded Tyler Technologies from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 2nd. Piper Sandler started coverage on Tyler Technologies in a research report on Monday, September 28th. They set an "overweight" rating and a $450.00 price objective on the stock. DA Davidson reiterated a "buy" rating and issued a $460.00 price target on shares of Tyler Technologies in a research report on Tuesday, October 27th. Finally, Guggenheim assumed coverage on shares of Tyler Technologies in a report on Wednesday, July 22nd. They issued a "buy" rating and a $440.00 target price for the company. One 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. According to data from MarketBeat.com, Tyler Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $440.88.
Check Out Our Latest Analysis on TYL
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of TYL. American Capital Management Inc. grew its holdings in shares of Tyler Technologies by 348.9% during the 1st quarter. American Capital Management Inc. now owns 98,942 shares of the technology company's stock valued at $33,876,000 after purchasing an additional 76,903 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Tyler Technologies during the first quarter worth $2,739,000. Bank of America Corp DE purchased a new stake in shares of Tyler Technologies in the second quarter valued at approximately $116,831,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Tyler Technologies by 13.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 400,775 shares of the technology company's stock worth $117,211,000 after buying an additional 48,832 shares during the last quarter. Finally, Corient Private Wealth LP acquired a new position in Tyler Technologies during the 2nd quarter worth approximately $838,000. Institutional investors and hedge funds own 93.30% of the company's stock.
About Tyler Technologies
(
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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