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

Tyler Technologies, Inc. (NYSE:TYL) has earned an average rating of “Moderate Buy” from the fourteen analysts that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $582.31.

Several brokerages have issued reports on TYL. Oppenheimer boosted their target price on shares of Tyler Technologies from $550.00 to $625.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Piper Sandler upped their price target on Tyler Technologies from $529.00 to $625.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Truist Financial restated a “buy” rating and set a $600.00 price objective (up from $560.00) on shares of Tyler Technologies in a research report on Friday, July 26th. Needham & Company LLC reiterated a “buy” rating and issued a $600.00 target price on shares of Tyler Technologies in a report on Thursday, July 25th. Finally, Loop Capital increased their price target on shares of Tyler Technologies from $485.00 to $530.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st.

Tyler Technologies Trading Up 1.4 %

Shares of NYSE TYL opened at $586.66 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.19. Tyler Technologies has a 12 month low of $361.16 and a 12 month high of $593.50. The company has a market cap of $25.03 billion, a price-to-earnings ratio of 132.73, a P/E/G ratio of 5.44 and a beta of 0.78. The business has a fifty day simple moving average of $552.70 and a 200-day simple moving average of $485.68.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, July 24th. The technology company reported $2.40 EPS for the quarter, topping the consensus estimate of $2.34 by $0.06. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. The company had revenue of $540.98 million during the quarter, compared to analysts’ expectations of $541.01 million. During the same period last year, the company posted $1.53 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. Sell-side analysts predict that Tyler Technologies will post 7.21 EPS for the current year.

Insiders Place Their Bets

In other Tyler Technologies news, CFO Brian K. Miller sold 2,500 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $586.97, for a total value of $1,467,425.00. Following the completion of the sale, the chief financial officer now owns 11,950 shares of the company’s stock, valued at $7,014,291.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Brian K. Miller sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $586.97, for a total value of $1,467,425.00. Following the transaction, the chief financial officer now directly owns 11,950 shares of the company’s stock, valued at approximately $7,014,291.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brian K. Miller sold 800 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $479.28, for a total value of $383,424.00. Following the completion of the sale, the chief financial officer now owns 12,736 shares of the company’s stock, valued at $6,104,110.08. The disclosure for this sale can be found here. Insiders have sold 16,825 shares of company stock valued at $9,643,553 over the last three months. 2.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Waldron Private Wealth LLC grew its position in shares of Tyler Technologies by 3.5% in the second quarter. Waldron Private Wealth LLC now owns 716 shares of the technology company’s stock valued at $360,000 after purchasing an additional 24 shares during the last quarter. Industrial Alliance Investment Management Inc. grew its holdings in Tyler Technologies by 4.4% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 693 shares of the technology company’s stock valued at $295,000 after buying an additional 29 shares during the last quarter. George Kaiser Family Foundation increased its position in Tyler Technologies by 0.7% in the 2nd quarter. George Kaiser Family Foundation now owns 4,177 shares of the technology company’s stock worth $2,100,000 after buying an additional 29 shares during the period. GW&K Investment Management LLC lifted its holdings in shares of Tyler Technologies by 0.3% during the fourth quarter. GW&K Investment Management LLC now owns 12,044 shares of the technology company’s stock worth $5,035,000 after buying an additional 31 shares during the last quarter. Finally, Avantax Advisory Services Inc. boosted its position in shares of Tyler Technologies by 5.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 670 shares of the technology company’s stock valued at $280,000 after acquiring an additional 33 shares during the period. 93.30% of the stock is currently owned by institutional investors and hedge funds.

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.