Larry D. Leinweber Sells 19,021 Shares of Tyler Technologies, Inc. (NYSE:TYL) Stock
Tyler Technologies, Inc. (NYSE:TYL) Director Larry D. Leinweber sold 19,021 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $170.18, for a total value of $3,236,993.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Tyler Technologies, Inc. (NYSE:TYL) traded down 1.35% during midday trading on Tuesday, reaching $167.49. The company’s stock had a trading volume of 106,281 shares. The firm has a 50-day moving average of $173.84 and a 200-day moving average of $162.19. The stock has a market cap of $6.25 billion, a PE ratio of 50.18 and a beta of 0.95. Tyler Technologies, Inc. has a one year low of $139.61 and a one year high of $182.49.
Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.91 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by $0.03. Tyler Technologies had a return on equity of 13.02% and a net margin of 14.73%. The company had revenue of $209.12 million for the quarter, compared to the consensus estimate of $210.67 million. During the same quarter last year, the company posted $0.86 EPS. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, analysts forecast that Tyler Technologies, Inc. will post $3.87 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in Tyler Technologies by 16,997.6% in the first quarter. BlackRock Inc. now owns 2,737,663 shares of the technology company’s stock valued at $423,133,000 after buying an additional 2,721,651 shares in the last quarter. Praesidium Investment Management Company LLC boosted its position in Tyler Technologies by 143.5% in the first quarter. Praesidium Investment Management Company LLC now owns 449,263 shares of the technology company’s stock valued at $69,438,000 after buying an additional 264,783 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Tyler Technologies by 42.2% in the first quarter. Goldman Sachs Group Inc. now owns 756,703 shares of the technology company’s stock valued at $116,957,000 after buying an additional 224,642 shares in the last quarter. Janus Capital Management LLC boosted its position in Tyler Technologies by 11.8% in the first quarter. Janus Capital Management LLC now owns 1,509,335 shares of the technology company’s stock valued at $233,283,000 after buying an additional 159,345 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in Tyler Technologies by 48.4% in the first quarter. Alliancebernstein L.P. now owns 476,411 shares of the technology company’s stock valued at $73,634,000 after buying an additional 155,393 shares in the last quarter. 89.77% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on the company. Maxim Group set a $197.00 price objective on Tyler Technologies and gave the company a “buy” rating in a report on Thursday, July 27th. Zacks Investment Research raised Tyler Technologies from a “hold” rating to a “strong-buy” rating and set a $201.00 price objective for the company in a report on Thursday, June 29th. BidaskClub downgraded Tyler Technologies from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, B. Riley reissued a “buy” rating and issued a $184.00 price objective on shares of Tyler Technologies in a report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Tyler Technologies has a consensus rating of “Buy” and an average target price of $187.17.
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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