From Investing.com.: 2024-09-16 13:38:42

Tyler Technologies Inc. (NYSE: TYL) saw its President and CEO, H Lynn Moore Jr., sell 5,000 shares of common stock for over $2.8 million in total on September 12, 2024. Moore’s direct ownership in the company now stands at 75,000 shares. Insider transactions like these offer insights into executives’ views on the company’s valuation and prospects.

The transactions involved several sales at different prices, ranging from $575.00 to $580.19 per share. In addition, Moore acquired 5,000 shares through options at $231.68 per share, totaling about $1.16 million. These moves are part of his routine compensation, reflecting his commitment to Tyler Technologies.

Tyler Technologies recently partnered with Envisio to enhance local government budgeting processes and successfully transitioned the Idaho Supreme Court’s case management system to a cloud-based model. Financially, the company reported a 7% revenue increase to $541.0 million in Q2, driven by growing software as a service (SaaS) segment.

Analysts have reacted positively to Tyler Technologies, with firms like Loop Capital, Oppenheimer, Piper Sandler, and Baird maintaining or upgrading their ratings. These analysts highlight the company’s growth in cloud conversions, public sector demand, successful subscription model transition, and increasing Annual Recurring Revenue.

On the market front, Tyler Technologies has a market cap of $24.89 billion, a P/E ratio of 118.64, and solid revenue growth of 6.7%. InvestingPro data shows 16 analysts revising earnings upwards and a 55.03% price total return over the last year. This performance indicates strong market confidence despite insider selling, offering valuable insights for investors.



Read more at Investing.com.: Tyler Technologies CEO sells over $2.8m in company stock By Investing.com