Tyler Technologies (NYSE:TYL) Raised to Buy at StockNews.com

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

TYL has been the subject of a number of other reports. Needham & Company LLC upped their price target on shares of Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Truist Financial restated a “buy” rating and set a $685.00 price target (up from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Robert W. Baird upped their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. JMP Securities upped their price target on shares of Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a report on Friday, October 25th. Finally, Barclays upped their price target on shares of Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $642.62.

Tyler Technologies Trading Down 0.7 %

Tyler Technologies stock opened at $630.44 on Thursday. 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 company has a market capitalization of $26.98 billion, a price-to-earnings ratio of 115.04, a PEG ratio of 5.65 and a beta of 0.77. Tyler Technologies has a one year low of $397.80 and a one year high of $637.53. The company’s fifty day moving average price is $598.13 and its two-hundred day moving average price is $554.74.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.43 by $0.09. The firm had revenue of $543.34 million for the quarter, compared to the consensus estimate of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.66 earnings per share. On average, analysts forecast that Tyler Technologies will post 7.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tyler Technologies news, CFO Brian K. Miller sold 2,500 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $624.41, for a total transaction of $1,561,025.00. Following the completion of the transaction, the chief financial officer now owns 11,950 shares in the company, valued at $7,461,699.50. This trade represents a 17.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Glenn A. Carter sold 3,350 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now directly owns 2,654 shares of the company’s stock, valued at approximately $1,546,140.78. The trade was a 55.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,100 shares of company stock worth $22,309,090 over the last quarter. Company insiders own 2.20% of the company’s stock.

Institutional Trading of Tyler Technologies

Several hedge funds have recently modified their holdings of the company. Franklin Resources Inc. increased its holdings in shares of Tyler Technologies by 2.0% during the third quarter. Franklin Resources Inc. now owns 912,746 shares of the technology company’s stock worth $547,354,000 after buying an additional 17,943 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Tyler Technologies by 11.2% during the third quarter. Tidal Investments LLC now owns 2,412 shares of the technology company’s stock worth $1,408,000 after buying an additional 243 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Tyler Technologies during the third quarter worth approximately $651,000. Sanctuary Advisors LLC increased its holdings in shares of Tyler Technologies by 411.0% during the third quarter. Sanctuary Advisors LLC now owns 13,716 shares of the technology company’s stock worth $8,354,000 after buying an additional 11,032 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Tyler Technologies during the third quarter worth approximately $1,825,000. Institutional investors and hedge funds 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.