Tyler Technologies, Inc. (NYSE:TYL) Sees Large Decline in Short Interest

Tyler Technologies, Inc. (NYSE:TYL) was the target of a large drop in short interest in January. As of January 31st, there was short interest totalling 1,020,000 shares, a drop of 18.4% from the January 15th total of 1,250,000 shares. Based on an average trading volume of 303,400 shares, the short-interest ratio is presently 3.4 days. Approximately 2.7% of the shares of the company are short sold.

Shares of NYSE:TYL traded up $4.08 during trading on Friday, hitting $338.25. 347,509 shares of the stock were exchanged, compared to its average volume of 238,907. Tyler Technologies has a 1-year low of $196.88 and a 1-year high of $340.80. The company has a market capitalization of $12.95 billion, a price-to-earnings ratio of 103.13 and a beta of 0.87. The company’s fifty day simple moving average is $315.32 and its 200-day simple moving average is $279.65. 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 (NYSE:TYL) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.30. Tyler Technologies had a return on equity of 11.51% and a net margin of 12.63%. The company had revenue of $288.80 million for the quarter, compared to analyst estimates of $291.57 million. During the same quarter last year, the firm earned $1.26 EPS. Tyler Technologies’s revenue for the quarter was up 19.3% compared to the same quarter last year. On average, research analysts forecast that Tyler Technologies will post 4.15 earnings per share for the current fiscal year.

In other Tyler Technologies news, Chairman John S. Marr, Jr. sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $286.27, for a total value of $7,156,750.00. Also, CEO H Lynn Moore, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $290.02, for a total value of $2,900,200.00. Following the completion of the sale, the chief executive officer now directly owns 73,672 shares in the company, valued at approximately $21,366,353.44. The disclosure for this sale can be found here. Insiders sold a total of 67,750 shares of company stock worth $19,364,240 over the last three months. 4.40% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC lifted its position in shares of Tyler Technologies by 1.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 3,742 shares of the technology company’s stock worth $982,000 after buying an additional 38 shares during the period. Benjamin F. Edwards & Company Inc. lifted its position in shares of Tyler Technologies by 22.5% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 218 shares of the technology company’s stock worth $65,000 after buying an additional 40 shares during the period. First Republic Investment Management Inc. lifted its position in shares of Tyler Technologies by 4.4% during the 4th quarter. First Republic Investment Management Inc. now owns 957 shares of the technology company’s stock worth $287,000 after buying an additional 40 shares during the period. Parkside Financial Bank & Trust lifted its position in shares of Tyler Technologies by 7.1% during the 3rd quarter. Parkside Financial Bank & Trust now owns 637 shares of the technology company’s stock worth $167,000 after buying an additional 42 shares during the period. Finally, Rowland Carmichael Advisors Inc. ADV lifted its position in shares of Tyler Technologies by 3.5% during the 4th quarter. Rowland Carmichael Advisors Inc. ADV now owns 1,288 shares of the technology company’s stock worth $386,000 after buying an additional 43 shares during the period. 89.54% of the stock is currently owned by institutional investors.

A number of analysts have issued reports on the company. Zacks Investment Research raised Tyler Technologies from a “hold” rating to a “buy” rating and set a $334.00 target price on the stock in a report on Thursday, January 2nd. DA Davidson raised their target price on Tyler Technologies from $216.00 to $238.00 and gave the company a “neutral” rating in a report on Friday, November 1st. They noted that the move was a valuation call. Northcoast Research lowered Tyler Technologies from a “buy” rating to a “neutral” rating and set a $275.00 target price on the stock. in a report on Thursday, December 5th. Needham & Company LLC raised their target price on Tyler Technologies from $280.00 to $380.00 and gave the company a “buy” rating in a report on Thursday. Finally, Robert W. Baird lowered Tyler Technologies from an “outperform” rating to a “neutral” rating and set a $310.00 price objective on the stock. in a report on Monday, January 13th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $304.22.

Tyler Technologies Company Profile

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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