Northcoast Research Downgrades Tyler Technologies (NYSE:TYL) to Neutral

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Tyler Technologies (NYSE:TYL) was downgraded by research analysts at Northcoast Research from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, The Fly reports.

Several other equities analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Tyler Technologies from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. DA Davidson boosted their price objective on shares of Tyler Technologies from $216.00 to $238.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. They noted that the move was a valuation call. Oppenheimer began coverage on shares of Tyler Technologies in a report on Monday, October 7th. They set an “outperform” rating and a $300.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating on shares of Tyler Technologies in a research report on Thursday, October 31st. Finally, JMP Securities lifted their price target on shares of Tyler Technologies from $245.00 to $286.00 and gave the company a “market outperform” rating in a research note on Friday, September 27th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $271.25.

TYL stock opened at $287.72 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a market capitalization of $11.31 billion, a P/E ratio of 76.93 and a beta of 0.89. The business has a 50-day moving average of $276.52 and a 200-day moving average of $247.93. Tyler Technologies has a fifty-two week low of $173.26 and a fifty-two week high of $293.84.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, October 30th. The technology company reported $1.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.36 by ($0.01). The firm had revenue of $275.40 million during the quarter, compared to analyst estimates of $281.03 million. Tyler Technologies had a net margin of 12.63% and a return on equity of 11.51%. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.23 EPS. Equities analysts expect that Tyler Technologies will post 4.15 EPS for the current year.

In other Tyler Technologies news, Chairman John S. Marr, Jr. sold 15,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $285.65, for a total value of $4,284,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Brenda A. Cline sold 5,000 shares of Tyler Technologies stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $256.91, for a total transaction of $1,284,550.00. Following the completion of the transaction, the director now directly owns 7,099 shares of the company’s stock, valued at approximately $1,823,804.09. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,500 shares of company stock valued at $12,222,240. Corporate insiders own 4.40% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Van ECK Associates Corp acquired a new position in Tyler Technologies during the second quarter worth approximately $40,000. Quadrant Capital Group LLC boosted its stake in shares of Tyler Technologies by 233.3% during the 3rd quarter. Quadrant Capital Group LLC now owns 220 shares of the technology company’s stock worth $56,000 after acquiring an additional 154 shares during the period. Cerebellum GP LLC boosted its stake in shares of Tyler Technologies by 25.0% during the 3rd quarter. Cerebellum GP LLC now owns 250 shares of the technology company’s stock worth $66,000 after acquiring an additional 50 shares during the period. Advisory Services Network LLC increased its holdings in shares of Tyler Technologies by 42.3% during the 2nd quarter. Advisory Services Network LLC now owns 313 shares of the technology company’s stock worth $68,000 after acquiring an additional 93 shares during the last quarter. Finally, FTB Advisors Inc. increased its holdings in shares of Tyler Technologies by 537.7% during the 2nd quarter. FTB Advisors Inc. now owns 389 shares of the technology company’s stock worth $83,000 after acquiring an additional 328 shares during the last quarter. 88.31% of the stock is currently owned by institutional investors.

About Tyler Technologies

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. The company operates in two segments, Enterprise Software, and Appraisal and Tax. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools.

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Analyst Recommendations for Tyler Technologies (NYSE:TYL)

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