Tyler Technologies (NYSE:TYL) Upgraded at Evercore ISI

Evercore ISI upgraded shares of Tyler Technologies (NYSE:TYL) to a hold rating in a research note released on Friday morning, Zacks.com reports.

Several other equities research analysts have also recently commented on the stock. Piper Sandler boosted their price target on shares of Tyler Technologies from $529.00 to $625.00 and gave the stock an overweight rating in a research report on Friday. Barclays increased their price target on Tyler Technologies from $515.00 to $577.00 and gave the company an equal weight rating in a research report on Friday. Truist Financial reaffirmed a buy rating and set a $600.00 price target (up previously from $560.00) on shares of Tyler Technologies in a research report on Friday. Wells Fargo & Company increased their price objective on Tyler Technologies from $580.00 to $600.00 and gave the company an overweight rating in a report on Friday. Finally, DA Davidson boosted their price target on Tyler Technologies from $456.00 to $525.00 and gave the stock a neutral rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $582.31.

Tyler Technologies Stock Down 2.3 %

NYSE:TYL opened at $576.99 on Friday. The company has a market cap of $24.50 billion, a PE ratio of 130.54, a PEG ratio of 6.06 and a beta of 0.76. The stock has a 50-day simple moving average of $501.04 and a 200 day simple moving average of $458.42. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 1.06. Tyler Technologies has a 52-week low of $361.16 and a 52-week high of $593.50.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.06. The company had revenue of $540.98 million during the quarter, compared to analysts’ expectations of $541.01 million. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the business earned $1.53 EPS. On average, sell-side analysts expect that Tyler Technologies will post 6.5 EPS for the current fiscal year.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 5,250 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $481.83, for a total transaction of $2,529,607.50. Following the completion of the sale, the chief executive officer now directly owns 75,000 shares in the company, valued at $36,137,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Brian K. Miller sold 800 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $479.28, for a total value of $383,424.00. Following the sale, the chief financial officer now directly owns 12,736 shares in the company, valued at approximately $6,104,110.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO H Lynn Moore, Jr. sold 5,250 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $481.83, for a total transaction of $2,529,607.50. Following the transaction, the chief executive officer now owns 75,000 shares of the company’s stock, valued at $36,137,250. The disclosure for this sale can be found here. Insiders have sold 21,241 shares of company stock valued at $10,201,740 over the last three months. 2.20% of the stock is owned by insiders.

Institutional Trading of Tyler Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Independence Bank of Kentucky bought a new position in shares of Tyler Technologies in the 2nd quarter valued at $25,000. Kapitalo Investimentos Ltda bought a new position in Tyler Technologies in the fourth quarter valued at about $26,000. Covestor Ltd boosted its stake in shares of Tyler Technologies by 153.6% during the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock valued at $30,000 after purchasing an additional 43 shares in the last quarter. Blue Trust Inc. grew 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 purchasing an additional 56 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Tyler Technologies in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

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.