Tyler Technologies (NYSE:TYL) Raised to Buy at StockNews.com

Tyler Technologies (NYSE:TYL) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

TYL has been the subject of several other reports. Wells Fargo & Company boosted their price objective on Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Truist Financial restated a “buy” rating and set a $685.00 target price (up from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. The Goldman Sachs Group restated a “buy” rating and set a $627.00 target price on shares of Tyler Technologies in a report on Friday, September 13th. Piper Sandler boosted their target price on Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, DA Davidson boosted their target price on Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Tyler Technologies has a consensus rating of “Moderate Buy” and an average target price of $642.62.

Tyler Technologies Price Performance

NYSE:TYL opened at $613.08 on Tuesday. Tyler Technologies has a 12 month low of $397.80 and a 12 month high of $631.43. The stock has a 50 day moving average of $591.43 and a two-hundred day moving average of $543.44. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The firm has a market cap of $26.24 billion, a P/E ratio of 111.88, a price-to-earnings-growth ratio of 5.62 and a beta of 0.77.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The company had revenue of $543.34 million during the quarter, compared to analyst estimates of $547.34 million. During the same period in the previous year, the business earned $1.66 EPS. Tyler Technologies’s quarterly revenue was up 9.8% on a year-over-year basis. On average, analysts expect 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 the company’s stock in a transaction that occurred 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 directly owns 6,983 shares in the company, valued at approximately $4,042,738.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Tyler Technologies news, insider John S. Marr, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 6,983 shares of the company’s stock, valued at $4,042,738.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $605.82, for a total value of $3,786,375.00. Following the completion of the sale, the chief executive officer now directly owns 75,000 shares in the company, valued at approximately $45,436,500. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,100 shares of company stock worth $17,746,270. Insiders own 2.20% of the company’s stock.

Institutional Trading of Tyler Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its position in shares of Tyler Technologies by 39.4% during the first quarter. Bessemer Group Inc. now owns 6,840 shares of the technology company’s stock worth $2,906,000 after acquiring an additional 1,935 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of Tyler Technologies by 7.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 46,724 shares of the technology company’s stock worth $19,858,000 after acquiring an additional 3,198 shares during the period. Natixis increased its position in shares of Tyler Technologies by 114.0% during the first quarter. Natixis now owns 2,253 shares of the technology company’s stock worth $958,000 after acquiring an additional 1,200 shares during the period. O Shaughnessy Asset Management LLC increased its position in shares of Tyler Technologies by 143.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 1,794 shares of the technology company’s stock worth $762,000 after acquiring an additional 1,058 shares during the period. Finally, Tidal Investments LLC increased its position in shares of Tyler Technologies by 64.8% during the first quarter. Tidal Investments LLC now owns 2,953 shares of the technology company’s stock worth $1,253,000 after acquiring an additional 1,161 shares during the period. Hedge funds and other institutional investors own 93.30% of the company’s stock.

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.