Tyler Technologies (NYSE:TYL) Rating Lowered to Hold at StockNews.com

Tyler Technologies (NYSE:TYL) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Monday.

Other research analysts also recently issued reports about the company. Evercore ISI upgraded Tyler Technologies to a “hold” rating in a report on Friday, July 26th. BTIG Research raised their price target on shares of Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Piper Sandler boosted their price objective on shares of Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Robert W. Baird raised their target price on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, Truist Financial reiterated a “buy” rating and issued a $685.00 price target (up from $600.00) on shares of Tyler Technologies in a research note on Friday, October 25th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $642.62.

Tyler Technologies Price Performance

NYSE TYL opened at $606.23 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market cap of $25.95 billion, a price-to-earnings ratio of 110.63, a PEG ratio of 5.44 and a beta of 0.77. The business has a 50 day simple moving average of $589.23 and a 200 day simple moving average of $538.17. Tyler Technologies has a 52-week low of $397.80 and a 52-week high of $631.43.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.09. The company had revenue of $543.34 million during the quarter, compared to the consensus estimate of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.66 earnings per share. Analysts anticipate that Tyler Technologies will post 7.39 earnings per share for the current fiscal year.

Insider Activity at Tyler Technologies

In related news, insider John S. Marr, Jr. sold 5,000 shares of Tyler Technologies stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $578.94, for a total transaction of $2,894,700.00. Following the completion of the sale, the insider now owns 6,983 shares of the company’s stock, valued at approximately $4,042,738.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Tyler Technologies news, Director Glenn A. Carter sold 3,350 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $582.57, for a total value of $1,951,609.50. Following the transaction, the director now directly owns 2,654 shares of the company’s stock, valued at $1,546,140.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John S. Marr, Jr. sold 5,000 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $578.94, for a total value of $2,894,700.00. Following the transaction, the insider now owns 6,983 shares in the company, valued at $4,042,738.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,850 shares of company stock worth $12,151,735. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Tyler Technologies

Several institutional investors and hedge funds have recently modified their holdings of TYL. Wealth Enhancement Advisory Services LLC raised its holdings in Tyler Technologies by 64.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,032 shares of the technology company’s stock valued at $864,000 after acquiring an additional 798 shares in the last quarter. Private Advisor Group LLC lifted its position in Tyler Technologies by 40.4% during the first quarter. Private Advisor Group LLC now owns 1,143 shares of the technology company’s stock worth $486,000 after purchasing an additional 329 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Tyler Technologies by 3.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,905 shares of the technology company’s stock worth $11,476,000 after buying an additional 989 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Tyler Technologies by 2.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 11,278 shares of the technology company’s stock valued at $4,793,000 after buying an additional 313 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. increased its holdings in Tyler Technologies by 5.6% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,346 shares of the technology company’s stock valued at $572,000 after buying an additional 71 shares during the period. 93.30% of the stock is currently owned by institutional investors and hedge funds.

About Tyler Technologies

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.