Brian K. Miller Sells 6,752 Shares of Tyler Technologies, Inc. (NYSE:TYL) Stock

Tyler Technologies, Inc. (NYSE:TYL - Get Free Report) CFO Brian K. Miller sold 6,752 shares of the business's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $613.75, for a total value of $4,144,040.00. Following the completion of the sale, the chief financial officer now owns 11,918 shares in the company, valued at $7,314,672.50. This represents a 36.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Tyler Technologies Price Performance

Shares of NYSE TYL traded down $6.39 during midday trading on Tuesday, hitting $607.97. The stock had a trading volume of 304,989 shares, compared to its average volume of 235,372. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies, Inc. has a 1 year low of $397.80 and a 1 year high of $638.56. The company has a market capitalization of $26.02 billion, a PE ratio of 110.94, a P/E/G ratio of 5.54 and a beta of 0.76. The stock has a 50 day simple moving average of $609.38 and a 200-day simple moving average of $567.72.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.43 by $0.09. The business had revenue of $543.34 million during the quarter, compared to the consensus estimate of $547.34 million. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The company's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the company earned $1.66 EPS. On average, sell-side analysts expect that Tyler Technologies, Inc. will post 7.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Barclays boosted their price target on shares of Tyler Technologies from $700.00 to $705.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. Piper Sandler raised their target price on shares of Tyler Technologies from $625.00 to $701.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Oppenheimer upped their target price on Tyler Technologies from $625.00 to $700.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $627.00 price target on shares of Tyler Technologies in a research report on Friday, September 13th. Finally, StockNews.com cut shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research note on Friday, December 6th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $642.62.

Hedge Funds Weigh In On Tyler Technologies

A number of hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. lifted its position in shares of Tyler Technologies by 73.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 11,444 shares of the technology company's stock worth $5,754,000 after buying an additional 4,837 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Tyler Technologies by 329.4% in the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company's stock valued at $37,000 after purchasing an additional 56 shares during the last quarter. Raymond James & Associates lifted its position in Tyler Technologies by 5.7% during the second quarter. Raymond James & Associates now owns 32,540 shares of the technology company's stock valued at $16,360,000 after buying an additional 1,749 shares in the last quarter. First Citizens Bank & Trust Co. boosted its holdings in Tyler Technologies by 11.7% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 1,720 shares of the technology company's stock worth $865,000 after acquiring an additional 180 shares during the period. Finally, Fifth Third Bancorp grew its stake in shares of Tyler Technologies by 4.1% during the second quarter. Fifth Third Bancorp now owns 1,140 shares of the technology company's stock valued at $573,000 after acquiring an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 93.30% of the company's stock.

About Tyler Technologies

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. It operates in two segments, Enterprise Software and Platform Technologies. The company offers platform and transformative technology solutions, including cybersecurity for government agencies; data and insights solutions; digital solutions that helps workers and policymakers to share, communicate, and leverage data; payments solutions, such as billing, presentment, merchant onboarding, collections, reconciliation, and disbursements; platform technologies, an application development platform that enables government workers to build solutions and applications; and outdoor recreation solutions, including campsite reservations, activity registrations, licensing sales and renewals, and real-time data for conservation and park management.

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