Tyler Technologies (NYSE:TYL) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Tyler Technologies (NYSE:TYL) from a buy rating to a hold rating in a research report sent to investors on Monday morning.

A number of other research firms also recently weighed in on TYL. Truist Financial restated 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. Piper Sandler lifted their price objective on Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Robert W. Baird lifted their price objective on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $627.00 price objective on shares of Tyler Technologies in a report on Friday, September 13th. Finally, BTIG Research lifted their price objective on Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $642.62.

Tyler Technologies Trading Down 0.5 %

Shares of TYL stock opened at $603.20 on Monday. The business’s 50 day moving average is $589.67 and its two-hundred day moving average is $538.62. Tyler Technologies has a twelve month low of $397.80 and a twelve month high of $631.43. The company has a market capitalization of $25.82 billion, a P/E ratio of 110.07, a price-to-earnings-growth ratio of 5.42 and a beta of 0.77. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The firm had revenue of $543.34 million for the quarter, compared to the consensus estimate of $547.34 million. During the same period in the previous year, the business earned $1.66 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equities analysts forecast that Tyler Technologies will post 7.39 EPS for the current year.

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 on Thursday, September 12th. The stock was sold at an average price of $576.62, for a total value of $2,883,100.00. Following the completion of the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at approximately $43,246,500. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Tyler Technologies news, Director Glenn A. Carter sold 3,350 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $582.57, for a total transaction of $1,951,609.50. Following the completion of the sale, the director now owns 2,654 shares of the company’s stock, valued at approximately $1,546,140.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $576.62, for a total value of $2,883,100.00. Following the sale, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at approximately $43,246,500. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,850 shares of company stock valued at $12,151,735 over the last three months. 1.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tyler Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Tyler Technologies by 1.1% in the first quarter. Vanguard Group Inc. now owns 5,022,053 shares of the technology company’s stock worth $2,134,423,000 after buying an additional 53,005 shares during the period. APG Asset Management N.V. boosted its position in shares of Tyler Technologies by 1.4% in the second quarter. APG Asset Management N.V. now owns 1,507,062 shares of the technology company’s stock worth $706,994,000 after buying an additional 20,842 shares during the period. Janus Henderson Group PLC boosted its position in shares of Tyler Technologies by 15.3% in the first quarter. Janus Henderson Group PLC now owns 532,935 shares of the technology company’s stock worth $226,501,000 after buying an additional 70,801 shares during the period. Swedbank AB purchased a new stake in shares of Tyler Technologies in the second quarter worth about $251,390,000. Finally, Blair William & Co. IL boosted its position in shares of Tyler Technologies by 0.5% in the first quarter. Blair William & Co. IL now owns 463,612 shares of the technology company’s stock worth $197,040,000 after buying an additional 2,134 shares during the period. Hedge funds and other 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.