Tyler Technologies (NYSE:TYL) Upgraded at StockNews.com

StockNews.com upgraded shares of Tyler Technologies (NYSE:TYL) from a hold rating to a buy rating in a research note published on Thursday morning.

Several other research firms have also issued reports on TYL. Needham & Company LLC lifted their price objective on shares of Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Barclays lifted their price objective on shares of Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $627.00 price objective on shares of Tyler Technologies in a research note on Friday, September 13th. DA Davidson lifted their price objective on shares of Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $685.00 price objective (up previously from $600.00) on shares of Tyler Technologies in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $642.62.

Tyler Technologies Trading Down 0.2 %

Shares of NYSE:TYL opened at $629.17 on Thursday. The firm has a fifty day moving average of $600.16 and a two-hundred day moving average of $556.30. The firm has a market capitalization of $26.93 billion, a P/E ratio of 114.81, a price-to-earnings-growth ratio of 5.71 and a beta of 0.77. Tyler Technologies has a 12-month low of $397.80 and a 12-month high of $637.53. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. The company had revenue of $543.34 million during the quarter, compared to analyst estimates of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted $1.66 EPS. On average, equities analysts expect that Tyler Technologies will post 7.36 EPS for the current fiscal year.

Insider Transactions at Tyler Technologies

In other news, CFO Brian K. Miller sold 3,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $602.72, for a total transaction of $1,808,160.00. Following the transaction, the chief financial officer now owns 11,950 shares in the company, valued at approximately $7,202,504. The trade was a 20.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John S. Marr, Jr. sold 12,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the transaction, the insider now owns 6,983 shares in the company, valued at approximately $4,285,187.78. The trade was a 63.21 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,100 shares of company stock worth $22,309,090. 2.20% of the stock is currently owned by company insiders.

Institutional Trading of Tyler Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TYL. Tidal Investments LLC increased its stake in Tyler Technologies by 64.8% in the first quarter. Tidal Investments LLC now owns 2,953 shares of the technology company’s stock valued at $1,253,000 after acquiring an additional 1,161 shares during the period. Comerica Bank increased its stake in Tyler Technologies by 12.5% in the first quarter. Comerica Bank now owns 16,887 shares of the technology company’s stock valued at $7,177,000 after acquiring an additional 1,876 shares during the period. Plato Investment Management Ltd bought a new stake in Tyler Technologies in the first quarter valued at about $75,000. Atria Investments Inc increased its stake in Tyler Technologies by 4.4% in the first quarter. Atria Investments Inc now owns 3,768 shares of the technology company’s stock valued at $1,601,000 after acquiring an additional 160 shares during the period. Finally, Cetera Investment Advisers increased its stake in Tyler Technologies by 665.0% in the first quarter. Cetera Investment Advisers now owns 14,199 shares of the technology company’s stock valued at $6,035,000 after acquiring an additional 12,343 shares during the period. Institutional investors own 93.30% of the company’s stock.

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.