Tyler Technologies (NYSE:TYL) Reaches New 1-Year High – Time to Buy?

Shares of Tyler Technologies, Inc. (NYSE:TYL) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $660.55 and last traded at $647.37, with a volume of 101223 shares changing hands. The stock had previously closed at $610.27.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Truist Financial reiterated a “buy” rating and issued a $685.00 price objective (up from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. JMP Securities upped their price target on Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research note on Friday, October 25th. Needham & Company LLC restated a “buy” rating and set a $700.00 price target on shares of Tyler Technologies in a research note on Tuesday, January 21st. DA Davidson reiterated a “neutral” rating and issued a $575.00 price objective on shares of Tyler Technologies in a research note on Thursday, January 30th. Finally, StockNews.com cut Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Tyler Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $645.69.

Tyler Technologies Stock Performance

The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18. The stock has a fifty day moving average of $595.47 and a 200-day moving average of $593.32. The stock has a market cap of $27.83 billion, a PE ratio of 118.77, a price-to-earnings-growth ratio of 4.78 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. On average, equities analysts forecast that Tyler Technologies, Inc. will post 7.36 EPS for the current year.

Insider Transactions at Tyler Technologies

In other news, insider John S. Marr, Jr. sold 12,000 shares of the company’s stock in a transaction on 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 completion of the sale, the insider now directly owns 6,983 shares in the company, valued at $4,285,187.78. This represents a 63.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Brian K. Miller sold 2,500 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $632.01, for a total value of $1,580,025.00. Following the sale, the chief financial officer now owns 12,198 shares of the company’s stock, valued at approximately $7,709,257.98. The trade was a 17.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock valued at $18,941,368 in the last quarter. 2.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Tyler Technologies

Institutional investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC boosted its position in Tyler Technologies by 221.4% in the 4th quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock valued at $26,000 after buying an additional 31 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in Tyler Technologies in the 3rd quarter valued at about $27,000. Sierra Ocean LLC purchased a new position in Tyler Technologies in the 4th quarter valued at about $32,000. Brown Brothers Harriman & Co. boosted its position in Tyler Technologies by 300.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock valued at $32,000 after buying an additional 42 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new position in Tyler Technologies in the 4th quarter valued at about $41,000. 93.30% of the stock is owned by hedge funds and other institutional investors.

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.