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 issued to investors on Tuesday.

A number of other analysts have also recently weighed in on the stock. Truist Financial reaffirmed a “buy” rating and set a $685.00 price target (up from $600.00) on shares of Tyler Technologies in a research report on Friday, October 25th. DA Davidson increased their target price on Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Oppenheimer boosted their price target on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Needham & Company LLC increased their price objective on shares of Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, JMP Securities boosted their target price on shares of Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $642.62.

Tyler Technologies Stock Performance

Shares of NYSE:TYL opened at $614.28 on Tuesday. The firm has a market capitalization of $26.29 billion, a PE ratio of 112.10, a P/E/G ratio of 5.56 and a beta of 0.77. Tyler Technologies has a 12 month low of $397.80 and a 12 month high of $631.43. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. The business has a 50-day moving average of $593.46 and a two-hundred day moving average of $545.54.

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

Insider Activity

In other Tyler Technologies news, CFO Brian K. Miller sold 2,500 shares of Tyler Technologies stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $586.97, for a total value of $1,467,425.00. Following the completion of the transaction, the chief financial officer now owns 11,950 shares of the company’s stock, valued at $7,014,291.50. The trade was a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $605.82, for a total transaction of $3,786,375.00. Following the sale, the chief executive officer now directly owns 75,000 shares in the company, valued at $45,436,500. This trade represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,600 shares of company stock worth $19,307,295. 2.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tyler Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Swedbank AB acquired a new position in Tyler Technologies during the 2nd quarter valued at approximately $251,390,000. International Assets Investment Management LLC grew its position in shares of Tyler Technologies by 252,047.5% during the third quarter. International Assets Investment Management LLC now owns 307,620 shares of the technology company’s stock worth $179,564,000 after acquiring an additional 307,498 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Tyler Technologies by 15.3% during the first quarter. Janus Henderson Group PLC now owns 532,935 shares of the technology company’s stock worth $226,501,000 after acquiring an additional 70,801 shares during the last quarter. Quantum Capital Management LLC NJ lifted its position in Tyler Technologies by 179.4% in the 1st quarter. Quantum Capital Management LLC NJ now owns 107,760 shares of the technology company’s stock valued at $45,799,000 after purchasing an additional 69,189 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Tyler Technologies by 18.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 424,982 shares of the technology company’s stock valued at $180,622,000 after purchasing an additional 65,814 shares during the period. 93.30% of the stock is currently owned by institutional investors and hedge funds.

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.