Zacks Investment Research upgraded shares of Tyler Technologies, Inc. (NYSE:TYL) from a hold rating to a buy rating in a research note released on Wednesday, November 1st. They currently have $198.00 price target on the technology company’s stock.
According to Zacks, “Tyler Technologies, Inc. is engaged in providing integrated information management solutions and services to the public sector. It provides software products and services; professional IT services; subscription-based services; property appraisal outsourcing services. Its products generally automate three major functional areas (1) financial management and education, (2) courts and justice and (3) property appraisal and tax. Tyler operates in two reportable segments: Enterprise Software Solutions (ESS) and Appraisal and Tax Software Solutions and Services. The Enterprise Software Solutions (ESS) segment provides software systems to municipal and county governments and schools. The Appraisal and Tax Software Solutions and Services segment provides systems and software that automate the appraisal and assessment of real and personal property as well as property appraisal outsourcing services for local governments and taxing authorities. Tyler Technologies, Inc. is headquartered in Dallas, Texas. “
Other equities analysts have also recently issued research reports about the company. B. Riley reiterated a buy rating and set a $184.00 target price on shares of Tyler Technologies in a research report on Wednesday, August 2nd. BidaskClub cut Tyler Technologies from a strong-buy rating to a buy rating in a research report on Monday, July 31st. Maxim Group set a $197.00 target price on Tyler Technologies and gave the stock a buy rating in a research report on Thursday, July 27th. Needham & Company LLC restated a buy rating on shares of Tyler Technologies in a report on Tuesday, October 24th. Finally, KeyCorp restated a buy rating and issued a $180.00 price target on shares of Tyler Technologies in a report on Friday, October 6th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Tyler Technologies currently has an average rating of Buy and an average price target of $193.00.
Tyler Technologies (NYSE:TYL) traded down $1.04 during trading on Wednesday, hitting $175.10. The stock had a trading volume of 185,564 shares, compared to its average volume of 190,863. Tyler Technologies has a fifty-two week low of $139.61 and a fifty-two week high of $183.98. The stock has a market cap of $6,580.00, a P/E ratio of 54.03 and a beta of 0.98.
Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, October 25th. The technology company reported $1.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.03. The firm had revenue of $214.15 million for the quarter, compared to analysts’ expectations of $216.80 million. Tyler Technologies had a return on equity of 12.81% and a net margin of 16.34%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.94 EPS. equities research analysts predict that Tyler Technologies will post 3.27 earnings per share for the current year.
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In related news, Director Larry D. Leinweber sold 36,000 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $171.23, for a total value of $6,164,280.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO John S. Marr, Jr. sold 18,000 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $170.30, for a total value of $3,065,400.00. Following the completion of the transaction, the chief executive officer now directly owns 339,457 shares in the company, valued at $57,809,527.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 245,976 shares of company stock worth $42,347,844. Corporate insiders own 10.30% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Zions Bancorporation acquired a new stake in Tyler Technologies in the 3rd quarter valued at $156,000. YHB Investment Advisors Inc. acquired a new stake in Tyler Technologies in the 2nd quarter valued at $209,000. Lakeview Capital Partners LLC acquired a new stake in shares of Tyler Technologies during the second quarter valued at about $211,000. CIBC Asset Management Inc acquired a new stake in shares of Tyler Technologies during the third quarter valued at about $218,000. Finally, D.A. Davidson & CO. grew its stake in shares of Tyler Technologies by 13.3% during the second quarter. D.A. Davidson & CO. now owns 1,391 shares of the technology company’s stock valued at $244,000 after acquiring an additional 163 shares in the last quarter. Hedge funds and other institutional investors own 90.92% of the company’s stock.
Tyler Technologies Company Profile
Tyler Technologies, Inc is a provider of information management solutions and services for the public sector, with a focus on local governments. The Company operates through two segments: Enterprise Software (ES) segment and The Appraisal and Tax (A&T) segment. ES segment provides municipal and county governments and schools with software systems and services for information technology and automation needs that includes back-office functions, such as financial management, courts and justice processes, public safety, planning regulatory and maintenance, and land and vital records management.
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