Tyler Technologies (NYSE:TYL) Rating Increased 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 note released on Tuesday morning.

A number of other equities analysts have also recently issued reports on TYL. Needham & Company LLC lifted their target price on Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $627.00 price objective on shares of Tyler Technologies in a research note on Friday, September 13th. Piper Sandler lifted their target price on shares of Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Evercore ISI upgraded shares of Tyler Technologies to a “hold” rating in a report on Friday, July 26th. Finally, JMP Securities raised their price objective on shares of Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research note on Friday, October 25th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $642.62.

Tyler Technologies Price Performance

Shares of NYSE TYL opened at $614.28 on Tuesday. The firm’s 50-day simple moving average is $593.46 and its 200 day simple moving average is $545.54. The stock has a market cap of $26.29 billion, a P/E ratio of 112.10, a P/E/G ratio of 5.56 and a beta of 0.77. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies has a fifty-two week low of $397.80 and a fifty-two week high of $631.43.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.09. The company had revenue of $543.34 million during the quarter, compared to analyst estimates of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.66 EPS. Equities analysts expect that Tyler Technologies will post 7.39 EPS for the current year.

Insider Activity

In other Tyler Technologies news, Director Glenn A. Carter sold 3,350 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $582.57, for a total value of $1,951,609.50. Following the completion of the sale, the director now owns 2,654 shares of the company’s stock, valued at $1,546,140.78. The trade was a 55.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian K. Miller sold 2,500 shares of the stock in a transaction dated Thursday, August 29th. The shares were 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 in the company, valued at approximately $7,014,291.50. This represents a 17.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,600 shares of company stock worth $19,307,295 in the last three months. 2.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Tyler Technologies

Large investors have recently added to or reduced their stakes in the stock. Swedbank AB bought a new stake in shares of Tyler Technologies during the 2nd quarter worth $251,390,000. International Assets Investment Management LLC boosted its holdings in Tyler Technologies by 252,047.5% during the third quarter. International Assets Investment Management LLC now owns 307,620 shares of the technology company’s stock valued at $179,564,000 after acquiring an additional 307,498 shares during the period. Janus Henderson Group PLC grew its position in shares of Tyler Technologies by 15.3% in the first quarter. Janus Henderson Group PLC now owns 532,935 shares of the technology company’s stock valued at $226,501,000 after purchasing an additional 70,801 shares during the last quarter. Quantum Capital Management LLC NJ increased its stake in shares of Tyler Technologies by 179.4% in the first quarter. Quantum Capital Management LLC NJ now owns 107,760 shares of the technology company’s stock worth $45,799,000 after purchasing an additional 69,189 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Tyler Technologies by 18.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 424,982 shares of the technology company’s stock worth $180,622,000 after purchasing an additional 65,814 shares during the last quarter. Institutional investors 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.