Tyler Technologies, Inc. (NYSE:TYL – Get Rating) saw a large decrease in short interest in the month of June. As of June 15th, there was short interest totalling 482,100 shares, a decrease of 22.8% from the May 31st total of 624,600 shares. Based on an average daily volume of 277,800 shares, the days-to-cover ratio is currently 1.7 days.
Tyler Technologies stock traded up $1.40 during mid-day trading on Monday, reaching $333.88. 5,485 shares of the company were exchanged, compared to its average volume of 244,914. Tyler Technologies has a twelve month low of $300.85 and a twelve month high of $557.55. The firm’s 50-day simple moving average is $349.06 and its two-hundred day simple moving average is $416.17. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $13.85 billion, a PE ratio of 86.05 and a beta of 0.83.
Tyler Technologies (NYSE:TYL – Get Rating) last posted its quarterly earnings data on Wednesday, April 27th. The technology company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.12. Tyler Technologies had a return on equity of 10.62% and a net margin of 9.38%. The company had revenue of $456.11 million during the quarter, compared to analysts’ expectations of $435.29 million. During the same period last year, the firm earned $1.08 EPS. As a group, equities research analysts anticipate that Tyler Technologies will post 5.73 EPS for the current year.
In other news, Chairman John S. Marr, Jr. sold 6,000 shares of the stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $363.75, for a total value of $2,182,500.00. Following the transaction, the chairman now owns 57,638 shares in the company, valued at approximately $20,965,822.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brian K. Miller sold 2,500 shares of the stock in a transaction dated Friday, May 13th. The shares were sold at an average price of $358.97, for a total value of $897,425.00. Following the completion of the transaction, the chief financial officer now owns 28,594 shares in the company, valued at approximately $10,264,388.18. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the business. Trust Co. of Vermont acquired a new stake in Tyler Technologies during the 4th quarter worth approximately $27,000. GHP Investment Advisors Inc. acquired a new stake in shares of Tyler Technologies in the 1st quarter valued at approximately $30,000. Standard Family Office LLC acquired a new stake in shares of Tyler Technologies in the 1st quarter valued at approximately $49,000. Aaron Wealth Advisors LLC acquired a new stake in shares of Tyler Technologies in the 1st quarter valued at approximately $51,000. Finally, Confluence Wealth Services Inc. acquired a new stake in shares of Tyler Technologies in the 4th quarter valued at approximately $58,000. 90.14% of the stock is owned by institutional investors.
A number of research firms have recently commented on TYL. TheStreet downgraded Tyler Technologies from a “b-” rating to a “c+” rating in a report on Wednesday, April 27th. DA Davidson upgraded Tyler Technologies from a “neutral” rating to a “buy” rating and set a $440.00 price objective on the stock in a report on Thursday, May 26th. They noted that the move was a valuation call. Credit Suisse Group began coverage on Tyler Technologies in a report on Monday, May 9th. They issued a “neutral” rating and a $408.00 price objective on the stock. Barclays initiated coverage on Tyler Technologies in a report on Monday, March 14th. They issued an “equal weight” rating and a $445.00 price objective on the stock. Finally, Wells Fargo & Company raised Tyler Technologies from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $425.00 to $435.00 in a research report on Tuesday, June 7th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $516.92.
Tyler Technologies Company Profile (Get Rating)
Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. The company operates in three segments: Enterprise Software; Appraisal and Tax; and NIC. 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.
