Tyler Technologies, Inc. (NYSE:TYL) Short Interest Update

Tyler Technologies, Inc. (NYSE:TYL) was the target of a significant increase in short interest in November. As of November 15th, there was short interest totalling 689,300 shares, an increase of 23.8% from the October 31st total of 556,700 shares. Based on an average daily trading volume, of 264,100 shares, the days-to-cover ratio is currently 2.6 days.

Insiders Place Their Bets

In related news, CEO H Lynn Moore, Jr. sold 3,250 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $631.41, for a total transaction of $2,052,082.50. Following the completion of the sale, the chief executive officer now owns 75,000 shares in the company, valued at approximately $47,355,750. This trade represents a 4.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brian K. Miller sold 3,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $602.72, for a total value of $1,808,160.00. Following the sale, the chief financial officer now owns 11,950 shares of the company’s stock, valued at $7,202,504. This represents a 20.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,350 shares of company stock worth $24,361,172 over the last quarter. 2.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Tyler Technologies

A number of hedge funds have recently modified their holdings of TYL. Swedbank AB purchased a new stake in shares of Tyler Technologies in the second quarter worth about $251,390,000. International Assets Investment Management LLC boosted its position in Tyler Technologies by 252,047.5% during the third quarter. International Assets Investment Management LLC now owns 307,620 shares of the technology company’s stock worth $179,564,000 after purchasing an additional 307,498 shares in the last quarter. FMR LLC boosted its position in Tyler Technologies by 94.1% during the third quarter. FMR LLC now owns 109,319 shares of the technology company’s stock worth $63,812,000 after purchasing an additional 52,984 shares in the last quarter. Westwind Capital boosted its position in Tyler Technologies by 7,614.0% during the third quarter. Westwind Capital now owns 46,361 shares of the technology company’s stock worth $27,062,000 after purchasing an additional 45,760 shares in the last quarter. Finally, LMR Partners LLP purchased a new position in Tyler Technologies during the third quarter worth approximately $23,383,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Stock Down 0.6 %

NYSE:TYL traded down $3.77 during mid-day trading on Monday, hitting $625.40. 294,969 shares of the company’s stock traded hands, compared to its average volume of 235,043. The company has a fifty day moving average of $600.99 and a 200 day moving average of $558.24. Tyler Technologies has a twelve month low of $397.80 and a twelve month high of $637.53. The company has a market capitalization of $26.77 billion, a P/E ratio of 114.12, a P/E/G ratio of 5.70 and a beta of 0.77. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. The business had revenue of $543.34 million for the quarter, compared to analyst estimates 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 was up 9.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.66 earnings per share. On average, analysts forecast that Tyler Technologies will post 7.36 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TYL. Barclays raised their price objective on Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Robert W. Baird raised their price objective on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. DA Davidson raised their price objective on Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Piper Sandler raised their price target on Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $627.00 price objective on shares of Tyler Technologies in a report on Friday, September 13th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $642.62.

Tyler Technologies Company Profile

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.