Connors Investor Services Inc. Sells 2,375 Shares of Tyler Technologies, Inc. (NYSE:TYL)

Connors Investor Services Inc. decreased its position in shares of Tyler Technologies, Inc. (NYSE:TYL) by 16.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,368 shares of the technology company’s stock after selling 2,375 shares during the period. Connors Investor Services Inc.’s holdings in Tyler Technologies were worth $6,218,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Independence Bank of Kentucky purchased a new position in shares of Tyler Technologies in the second quarter valued at about $25,000. Kapitalo Investimentos Ltda bought a new position in shares of Tyler Technologies during the fourth quarter worth $26,000. Covestor Ltd lifted its stake in Tyler Technologies by 153.6% in the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after purchasing an additional 43 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Tyler Technologies by 329.4% during the second quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock valued at $37,000 after buying an additional 56 shares during the last quarter. Finally, Lynx Investment Advisory purchased a new stake in shares of Tyler Technologies in the second quarter worth approximately $38,000. 93.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Daniel M. Pope sold 275 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $578.26, for a total transaction of $159,021.50. Following the transaction, the director now owns 3,218 shares of the company’s stock, valued at approximately $1,860,840.68. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,250 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $576.49, for a total transaction of $3,603,062.50. Following the sale, the chief executive officer now owns 75,000 shares in the company, valued at approximately $43,236,750. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel M. Pope sold 275 shares of Tyler Technologies stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $578.26, for a total value of $159,021.50. Following the completion of the transaction, the director now owns 3,218 shares of the company’s stock, valued at approximately $1,860,840.68. The disclosure for this sale can be found here. Insiders have sold a total of 29,375 shares of company stock valued at $17,049,739 in the last quarter. Insiders own 2.20% of the company’s stock.

Tyler Technologies Trading Up 0.6 %

Shares of Tyler Technologies stock opened at $585.73 on Tuesday. The company has a market cap of $24.99 billion, a P/E ratio of 132.52, a price-to-earnings-growth ratio of 5.39 and a beta of 0.78. The firm has a 50-day simple moving average of $565.50 and a two-hundred day simple moving average of $494.37. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.06 and a current ratio of 1.06. Tyler Technologies, Inc. has a fifty-two week low of $361.16 and a fifty-two week high of $598.93.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, July 24th. The technology company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.06. The business had revenue of $540.98 million for the quarter, compared to analyst estimates of $541.01 million. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.53 earnings per share. As a group, equities analysts predict that Tyler Technologies, Inc. will post 7.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Oppenheimer raised their price objective on Tyler Technologies from $550.00 to $625.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Loop Capital boosted their target price on shares of Tyler Technologies from $485.00 to $530.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Evercore ISI upgraded shares of Tyler Technologies to a “hold” rating in a report on Friday, July 26th. Barclays boosted their price objective on shares of Tyler Technologies from $515.00 to $577.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Finally, Wells Fargo & Company raised their target price on shares of Tyler Technologies from $580.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Tyler Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $582.31.

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.