Insider Selling: Tyler Technologies, Inc. (TYL) Director Sells 36,000 Shares of Stock
Tyler Technologies, Inc. (NYSE:TYL) Director Larry D. Leinweber sold 36,000 shares of Tyler Technologies stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $170.98, for a total transaction of $6,155,280.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Shares of Tyler Technologies, Inc. (NYSE:TYL) traded down 0.70% during trading on Thursday, hitting $170.04. 180,913 shares of the company were exchanged. The company has a 50 day moving average of $170.85 and a 200-day moving average of $157.60. Tyler Technologies, Inc. has a 1-year low of $139.61 and a 1-year high of $178.09. The stock has a market capitalization of $6.31 billion, a PE ratio of 53.45 and a beta of 0.96.
Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, April 26th. The technology company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.74 by $0.01. Tyler Technologies had a return on equity of 13.12% and a net margin of 13.48%. The company had revenue of $199.54 million for the quarter, compared to analysts’ expectations of $199.76 million. During the same period last year, the firm posted $0.81 earnings per share. Tyler Technologies’s revenue was up 11.3% compared to the same quarter last year. On average, analysts forecast that Tyler Technologies, Inc. will post $3.88 earnings per share for the current year.
A number of equities analysts have issued reports on TYL shares. B. Riley reaffirmed a “buy” rating and set a $184.00 price objective on shares of Tyler Technologies in a report on Tuesday, May 9th. Zacks Investment Research raised shares of Tyler Technologies from a “hold” rating to a “strong-buy” rating and set a $201.00 price target on the stock in a report on Thursday, June 29th. Finally, Maxim Group reissued a “buy” rating and issued a $197.00 price target on shares of Tyler Technologies in a report on Thursday, April 27th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Tyler Technologies presently has a consensus rating of “Buy” and an average target price of $187.00.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Assetmark Inc. boosted its position in shares of Tyler Technologies by 15.1% in the first quarter. Assetmark Inc. now owns 761 shares of the technology company’s stock valued at $118,000 after buying an additional 100 shares during the last quarter. New England Research & Management Inc. purchased a new position in shares of Tyler Technologies during the first quarter valued at about $201,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Tyler Technologies by 32.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,298 shares of the technology company’s stock valued at $201,000 after buying an additional 317 shares during the last quarter. Pennsylvania Trust Co purchased a new position in shares of Tyler Technologies during the first quarter valued at about $239,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Tyler Technologies during the first quarter valued at about $242,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.
About Tyler Technologies
Tyler Technologies, Inc is a provider of information management solutions and services for the public sector, with a focus on local governments. The Company operates through two segments: Enterprise Software (ES) segment and The Appraisal and Tax (A&T) segment. ES segment provides municipal and county governments and schools with software systems and services for information technology and automation needs that includes back-office functions, such as financial management, courts and justice processes, public safety, planning regulatory and maintenance, and land and vital records management.
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