Tyler Technologies, Inc. (NYSE:TYL) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Tyler Technologies, Inc. (NYSE:TYL) has been assigned an average recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $593.69.

Several analysts recently weighed in on TYL shares. JMP Securities lifted their price objective on shares of Tyler Technologies from $490.00 to $580.00 and gave the company a “market outperform” rating in a research report on Monday, July 22nd. BTIG Research lifted their price objective on shares of Tyler Technologies from $550.00 to $630.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Piper Sandler raised their target price on shares of Tyler Technologies from $529.00 to $625.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Needham & Company LLC reiterated a “buy” rating and issued a $600.00 price objective on shares of Tyler Technologies in a report on Thursday, July 25th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $627.00 target price on shares of Tyler Technologies in a report on Friday, September 13th.

Insider Transactions at Tyler Technologies

In related news, CEO H Lynn Moore, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $590.98, for a total value of $2,954,900.00. Following the completion of the sale, the chief executive officer now owns 75,000 shares in the company, valued at approximately $44,323,500. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tyler Technologies news, Director Daniel M. Pope sold 275 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $578.26, for a total transaction of $159,021.50. Following the completion of the sale, the director now directly owns 3,218 shares in the company, valued at approximately $1,860,840.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $590.98, for a total value of $2,954,900.00. Following the completion of the transaction, the chief executive officer now owns 75,000 shares in the company, valued at $44,323,500. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,375 shares of company stock valued at $17,049,739 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Independence Bank of Kentucky purchased a new stake in Tyler Technologies in the 2nd quarter worth approximately $25,000. Kapitalo Investimentos Ltda acquired a new position in shares of Tyler Technologies in the fourth quarter worth $26,000. Covestor Ltd increased its stake in shares of Tyler Technologies by 153.6% in the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after acquiring an additional 43 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Tyler Technologies by 329.4% during the second quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after acquiring an additional 56 shares in the last quarter. Finally, Lynx Investment Advisory acquired a new stake in Tyler Technologies during the second quarter valued at $38,000. 93.30% of the stock is owned by hedge funds and other institutional investors.

Tyler Technologies Trading Down 0.3 %

NYSE TYL opened at $588.23 on Friday. The firm has a market capitalization of $25.10 billion, a PE ratio of 121.54, a price-to-earnings-growth ratio of 5.55 and a beta of 0.78. Tyler Technologies has a one year low of $361.16 and a one year high of $606.93. The company has a 50-day simple moving average of $583.30 and a 200-day simple moving average of $519.27. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.06 and a current ratio of 1.06.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, July 24th. The technology company reported $2.40 EPS for the quarter, beating the consensus estimate of $2.34 by $0.06. The company had revenue of $540.98 million during the quarter, compared to analyst estimates of $541.01 million. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.53 earnings per share. On average, equities analysts forecast that Tyler Technologies will post 7.21 earnings per share 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.