Tyler Technologies, Inc. (NYSE:TYL) Given Average Recommendation of “Moderate Buy” by Brokerages

Tyler Technologies, Inc. (NYSE:TYL) has received a consensus rating of “Moderate Buy” from the thirteen ratings firms that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $675.00.

Several equities analysts recently weighed in on the stock. Wells Fargo & Company reiterated an “equal weight” rating and issued a $615.00 price target (down previously from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. Barclays cut their price objective on shares of Tyler Technologies from $715.00 to $700.00 and set an “overweight” rating on the stock in a research note on Monday. Needham & Company LLC reissued a “buy” rating and set a $700.00 target price on shares of Tyler Technologies in a report on Tuesday, January 21st. Piper Sandler upped their price target on shares of Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Finally, The Goldman Sachs Group lifted their price objective on Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th.

Insider Activity

In other news, insider John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $619.00, for a total value of $3,714,000.00. Following the transaction, the insider now owns 6,983 shares in the company, valued at $4,322,477. This trade represents a 46.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brian K. Miller sold 1,550 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $613.58, for a total value of $951,049.00. Following the sale, the chief financial officer now owns 14,026 shares of the company’s stock, valued at $8,606,073.08. The trade was a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,064 shares of company stock worth $8,688,030 in the last quarter. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Tyler Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fifth Third Bancorp boosted its position in Tyler Technologies by 27.0% during the first quarter. Fifth Third Bancorp now owns 1,468 shares of the technology company’s stock worth $853,000 after acquiring an additional 312 shares during the last quarter. Simon Quick Advisors LLC purchased a new position in Tyler Technologies in the 1st quarter worth approximately $234,000. Axecap Investments LLC boosted its holdings in shares of Tyler Technologies by 17.7% during the 1st quarter. Axecap Investments LLC now owns 5,677 shares of the technology company’s stock worth $3,301,000 after purchasing an additional 852 shares during the last quarter. Curbstone Financial Management Corp grew its position in shares of Tyler Technologies by 2.2% in the first quarter. Curbstone Financial Management Corp now owns 1,104 shares of the technology company’s stock valued at $642,000 after purchasing an additional 24 shares in the last quarter. Finally, CX Institutional acquired a new stake in shares of Tyler Technologies in the first quarter valued at approximately $176,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Tyler Technologies Price Performance

Shares of TYL stock opened at $578.32 on Friday. The stock has a 50 day moving average price of $588.47 and a 200 day moving average price of $595.45. Tyler Technologies has a 52-week low of $397.80 and a 52-week high of $661.31. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. The firm has a market capitalization of $24.93 billion, a P/E ratio of 95.43, a P/E/G ratio of 4.93 and a beta of 0.84.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. As a group, sell-side analysts predict that Tyler Technologies will post 8.52 earnings per share for the current year.

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.