Tyler Technologies, Inc. (NYSE:TYL) Chairman John S. Marr, Jr. sold 15,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $285.65, for a total value of $4,284,750.00. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Shares of TYL traded down $1.51 during trading hours on Wednesday, reaching $287.63. The stock had a trading volume of 9,976 shares, compared to its average volume of 376,585. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.20 and a current ratio of 1.20. Tyler Technologies, Inc. has a 12 month low of $173.26 and a 12 month high of $293.84. The stock has a market capitalization of $11.31 billion, a PE ratio of 76.94 and a beta of 0.89. The company’s 50-day moving average is $276.12 and its two-hundred day moving average is $247.57.
Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.01). Tyler Technologies had a return on equity of 11.51% and a net margin of 12.63%. The firm had revenue of $275.40 million for the quarter, compared to the consensus estimate of $281.03 million. During the same quarter in the prior year, the firm earned $1.23 EPS. The company’s revenue was up 16.6% on a year-over-year basis. Equities analysts anticipate that Tyler Technologies, Inc. will post 4.15 earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the company. Eaton Vance Management grew its holdings in Tyler Technologies by 2,217.7% in the second quarter. Eaton Vance Management now owns 232,397 shares of the technology company’s stock worth $50,202,000 after purchasing an additional 222,370 shares during the period. Nuveen Asset Management LLC purchased a new position in Tyler Technologies during the 2nd quarter valued at about $31,804,000. Teacher Retirement System of Texas increased its position in shares of Tyler Technologies by 253.8% during the second quarter. Teacher Retirement System of Texas now owns 185,410 shares of the technology company’s stock valued at $40,052,000 after buying an additional 133,000 shares during the period. Millennium Management LLC increased its position in shares of Tyler Technologies by 949.2% during the third quarter. Millennium Management LLC now owns 112,385 shares of the technology company’s stock valued at $29,501,000 after buying an additional 101,673 shares during the period. Finally, Columbus Circle Investors bought a new stake in shares of Tyler Technologies during the third quarter valued at about $26,569,000. 88.31% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently weighed in on TYL. JMP Securities raised their price objective on Tyler Technologies from $245.00 to $286.00 and gave the company a “market outperform” rating in a research note on Friday, September 27th. Zacks Investment Research raised Tyler Technologies from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. DA Davidson increased their target price on shares of Tyler Technologies from $216.00 to $238.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. They noted that the move was a valuation call. Needham & Company LLC reissued a “buy” rating on shares of Tyler Technologies in a report on Thursday, October 31st. Finally, ValuEngine downgraded shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $271.25.
About Tyler Technologies
Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. The company operates in two segments, Enterprise Software, and Appraisal and Tax. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools.
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