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

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

TYL stock traded up $4.08 during trading hours on Friday, hitting $338.25. 347,509 shares of the stock traded hands, compared to its average volume of 238,907. The stock has a 50-day simple moving average of $315.32 and a 200 day simple moving average of $279.65. Tyler Technologies has a one year low of $196.88 and a one year high of $340.80. The company has a market cap of $12.95 billion, a P/E ratio of 103.13 and a beta of 0.87. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.01.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, February 12th. The technology company reported $1.43 earnings per share for the quarter, beating 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 business had revenue of $288.80 million during the quarter, compared to analysts’ expectations of $291.57 million. During the same quarter last year, the business posted $1.26 earnings per share. The company’s quarterly revenue was up 19.3% on a year-over-year basis. Analysts forecast that Tyler Technologies will post 4.15 earnings per share for the current year.

Several research firms have recently issued reports on TYL. Northcoast Research cut Tyler Technologies from a “buy” rating to a “neutral” rating and set a $275.00 price target for the company. in a research note on Thursday, December 5th. Benchmark raised their target price on Tyler Technologies from $285.00 to $375.00 and gave the company a “buy” rating in a research note on Friday. Zacks Investment Research raised Tyler Technologies from a “hold” rating to a “buy” rating and set a $334.00 target price for the company in a research note on Thursday, January 2nd. Robert W. Baird cut Tyler Technologies from an “outperform” rating to a “neutral” rating and set a $310.00 target price for the company. in a research note on Monday, January 13th. Finally, DA Davidson raised their target price on Tyler Technologies from $216.00 to $238.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $304.22.

In other news, CEO H Lynn Moore, Jr. sold 10,000 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $290.02, for a total value of $2,900,200.00. Following the completion of the transaction, the chief executive officer now owns 73,672 shares of the company’s stock, valued at $21,366,353.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Brian K. Miller sold 17,750 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $282.96, for a total value of $5,022,540.00. Following the completion of the transaction, the chief financial officer now directly owns 46,991 shares of the company’s stock, valued at approximately $13,296,573.36. The disclosure for this sale can be found here. In the last three months, insiders sold 67,750 shares of company stock valued at $19,364,240. Company insiders own 4.40% of the company’s stock.

Several large investors have recently added to or reduced their stakes in TYL. State Street Corp boosted its position in shares of Tyler Technologies by 35.7% in the 4th quarter. State Street Corp now owns 1,228,346 shares of the technology company’s stock valued at $368,528,000 after purchasing an additional 323,402 shares during the period. California Public Employees Retirement System boosted its position in shares of Tyler Technologies by 289.5% in the 4th quarter. California Public Employees Retirement System now owns 319,085 shares of the technology company’s stock valued at $95,732,000 after purchasing an additional 237,170 shares during the period. Johanson Financial Advisors Inc. acquired a new position in shares of Tyler Technologies in the 4th quarter valued at $758,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Tyler Technologies in the 4th quarter valued at $44,787,000. Finally, First Trust Advisors LP boosted its position in shares of Tyler Technologies by 2,331.3% in the 4th quarter. First Trust Advisors LP now owns 130,607 shares of the technology company’s stock valued at $39,185,000 after purchasing an additional 125,235 shares during the period. Institutional investors and hedge funds own 89.54% of the company’s stock.

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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