Tyler Technologies, Inc. (NYSE:TYL) Short Interest Down 9.0% in June

Tyler Technologies, Inc. (NYSE:TYL) saw a significant drop in short interest in the month of June. As of June 15th, there was short interest totalling 845,600 shares, a drop of 9.0% from the May 15th total of 929,600 shares. Based on an average daily volume of 204,300 shares, the days-to-cover ratio is currently 4.1 days. Approximately 2.3% of the shares of the company are sold short.

TYL has been the topic of a number of research analyst reports. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. KeyCorp restated a “hold” rating on shares of Tyler Technologies in a research report on Monday, March 25th. Northcoast Research began coverage on shares of Tyler Technologies in a report on Thursday, March 28th. They set a “buy” rating and a $250.00 price target on the stock. Zacks Investment Research upgraded shares of SCHNEIDER ELEC /ADR from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Friday, July 5th. Finally, Northland Securities set a $11.00 price target on shares of Lazydays and gave the stock a “buy” rating in a report on Friday, March 22nd. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Tyler Technologies has a consensus rating of “Buy” and a consensus target price of $233.86.

In related news, Director Luther King, Jr. sold 1,500 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $211.86, for a total value of $317,790.00. Following the transaction, the director now directly owns 82,996 shares of the company’s stock, valued at $17,583,532.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Luther King, Jr. sold 967 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $217.70, for a total transaction of $210,515.90. Following the completion of the transaction, the director now directly owns 77,864 shares in the company, valued at $16,950,992.80. The disclosure for this sale can be found here. Insiders have sold 59,636 shares of company stock worth $13,101,345 over the last ninety days. Insiders own 4.40% of the company’s stock.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of Tyler Technologies by 2.4% during the first quarter. BlackRock Inc. now owns 3,805,249 shares of the technology company’s stock worth $777,794,000 after acquiring an additional 88,378 shares in the last quarter. Vanguard Group Inc boosted its holdings in Tyler Technologies by 3.3% during the third quarter. Vanguard Group Inc now owns 3,326,669 shares of the technology company’s stock worth $815,233,000 after purchasing an additional 106,568 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Tyler Technologies by 0.8% during the first quarter. Janus Henderson Group PLC now owns 1,431,181 shares of the technology company’s stock worth $292,534,000 after purchasing an additional 11,450 shares during the last quarter. TimesSquare Capital Management LLC boosted its holdings in Tyler Technologies by 262.4% during the first quarter. TimesSquare Capital Management LLC now owns 593,503 shares of the technology company’s stock worth $121,312,000 after purchasing an additional 429,720 shares during the last quarter. Finally, Praesidium Investment Management Company LLC boosted its holdings in Tyler Technologies by 7.6% during the fourth quarter. Praesidium Investment Management Company LLC now owns 591,259 shares of the technology company’s stock worth $109,868,000 after purchasing an additional 41,865 shares during the last quarter. 89.29% of the stock is owned by institutional investors.

Shares of NYSE TYL opened at $227.27 on Friday. Tyler Technologies has a twelve month low of $173.26 and a twelve month high of $252.47. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $8.71 billion, a P/E ratio of 60.77 and a beta of 0.92. The business’s fifty day moving average price is $218.67.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, May 1st. The technology company reported $0.95 EPS for the quarter, hitting the consensus estimate of $0.95. The company had revenue of $247.10 million during the quarter, compared to the consensus estimate of $251.75 million. Tyler Technologies had a net margin of 14.23% and a return on equity of 11.28%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.13 earnings per share. As a group, analysts anticipate that Tyler Technologies will post 4.17 earnings per share for the current year.

About Tyler Technologies

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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