Tyler Technologies (NYSE:TYL) Sets New 52-Week High Following Analyst Upgrade

Tyler Technologies, Inc. (NYSE:TYL)’s share price hit a new 52-week high on Thursday after Barclays raised their price target on the stock from $473.00 to $515.00. Barclays currently has an equal weight rating on the stock. Tyler Technologies traded as high as $521.03 and last traded at $515.44, with a volume of 31504 shares changing hands. The stock had previously closed at $511.88.

TYL has been the topic of several other reports. JMP Securities reaffirmed a “market outperform” rating and set a $490.00 price objective on shares of Tyler Technologies in a report on Friday, April 26th. Oppenheimer increased their price objective on shares of Tyler Technologies from $500.00 to $550.00 and gave the company an “outperform” rating in a research report on Wednesday, May 22nd. BTIG Research upped their target price on shares of Tyler Technologies from $515.00 to $550.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Loop Capital lifted their target price on Tyler Technologies from $485.00 to $530.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Finally, Needham & Company LLC increased their price objective on shares of Tyler Technologies from $500.00 to $600.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Tyler Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $527.27.

Insider Buying and Selling

In other news, CEO H Lynn Moore, Jr. sold 5,250 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $481.83, for a total transaction of $2,529,607.50. Following the transaction, the chief executive officer now owns 75,000 shares in the company, valued at $36,137,250. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 5,250 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $481.83, for a total transaction of $2,529,607.50. Following the sale, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at approximately $36,137,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel M. Pope sold 520 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $491.18, for a total transaction of $255,413.60. Following the transaction, the director now directly owns 3,493 shares of the company’s stock, valued at $1,715,691.74. The disclosure for this sale can be found here. Insiders sold 26,241 shares of company stock valued at $12,495,890 over the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Tyler Technologies

Several hedge funds and other institutional investors have recently modified their holdings of TYL. Kapitalo Investimentos Ltda acquired a new position in shares of Tyler Technologies in the 4th quarter worth approximately $26,000. Covestor Ltd raised its position in shares of Tyler Technologies by 153.6% during the 1st quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after acquiring an additional 43 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Tyler Technologies in the 4th quarter valued at $31,000. Lynx Investment Advisory purchased a new position in Tyler Technologies during the 2nd quarter worth approximately $38,000. Finally, Headlands Technologies LLC acquired a new position in shares of Tyler Technologies in the 4th quarter valued at $40,000. 93.30% of the stock is owned by hedge funds and other institutional investors.

Tyler Technologies Trading Up 1.7 %

The company has a market capitalization of $22.21 billion, a price-to-earnings ratio of 118.34, a price-to-earnings-growth ratio of 4.80 and a beta of 0.76. The business’s 50 day simple moving average is $489.03 and its 200 day simple moving average is $448.19. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.94 and a quick ratio of 0.94.

Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, April 24th. The technology company reported $1.74 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.26. The business had revenue of $512.36 million for the quarter, compared to the consensus estimate of $507.79 million. Tyler Technologies had a net margin of 9.50% and a return on equity of 9.35%. Research analysts anticipate that Tyler Technologies, Inc. will post 7.1 EPS for the current year.

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.