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

StockNews.com upgraded shares of Tyler Technologies (NYSE:TYL) from a hold rating to a buy rating in a report issued on Saturday morning.

Several other research firms have also recently issued reports on TYL. Truist Financial reaffirmed a “buy” rating and set a $775.00 price objective (up from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Piper Sandler decreased their price objective on shares of Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating for the company in a research report on Friday, April 25th. Wells Fargo & Company decreased their price objective on shares of Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $750.00 price objective on shares of Tyler Technologies in a research report on Thursday, April 24th. Finally, DA Davidson decreased their price objective on shares of Tyler Technologies from $595.00 to $570.00 and set a “neutral” rating for the company in a research report on Friday, April 25th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $674.67.

Tyler Technologies Stock Performance

NYSE:TYL opened at $565.31 on Friday. The company has a fifty day simple moving average of $562.22 and a two-hundred day simple moving average of $590.53. The company has a market cap of $24.38 billion, a price-to-earnings ratio of 93.29, a price-to-earnings-growth ratio of 4.93 and a beta of 0.88. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. Tyler Technologies has a 52 week low of $458.50 and a 52 week high of $661.31.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.56 by $0.22. The business had revenue of $562.43 million during the quarter, compared to the consensus estimate of $556.45 million. Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.20 earnings per share. As a group, equities analysts anticipate that Tyler Technologies will post 8.52 earnings per share for the current fiscal year.

Insider Activity at Tyler Technologies

In other news, insider John S. Marr, Jr. sold 6,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $619.00, for a total value of $3,714,000.00. Following the completion of the sale, the insider now directly owns 6,983 shares of the company’s stock, valued at approximately $4,322,477. This represents a 46.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian K. Miller sold 1,550 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $613.58, for a total transaction of $951,049.00. Following the completion of the sale, the chief financial officer now directly 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 sold a total of 15,462 shares of company stock valued at $9,464,626 over the last ninety days. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Tyler Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Larson Financial Group LLC raised its holdings in Tyler Technologies by 221.4% during the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock worth $26,000 after purchasing an additional 31 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new position in Tyler Technologies during the first quarter worth about $26,000. Mowery & Schoenfeld Wealth Management LLC raised its holdings in Tyler Technologies by 820.0% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company’s stock worth $27,000 after purchasing an additional 41 shares in the last quarter. Sierra Ocean LLC purchased a new position in Tyler Technologies during the fourth quarter worth about $32,000. Finally, Brown Brothers Harriman & Co. raised its holdings in Tyler Technologies by 300.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock worth $32,000 after purchasing an additional 42 shares in the last quarter. 93.30% of the stock is owned by hedge funds and other institutional investors.

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.