Tyler Technologies (NYSE:TYL) Upgraded 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 Thursday.

Several other brokerages also recently issued reports on TYL. Piper Sandler upped their target price on shares of Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Truist Financial reaffirmed a “buy” rating and issued a $685.00 price objective (up from $600.00) on shares of Tyler Technologies in a research report on Friday, October 25th. Oppenheimer lifted their target price on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. The Goldman Sachs Group restated a “buy” rating and issued a $627.00 price target on shares of Tyler Technologies in a research note on Friday, September 13th. Finally, Needham & Company LLC increased their price objective on Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $642.62.

Tyler Technologies Stock Performance

Shares of TYL opened at $629.17 on Thursday. Tyler Technologies has a one year low of $397.80 and a one year high of $637.53. The company has a 50-day simple moving average of $600.16 and a two-hundred day simple moving average of $557.28. 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 firm has a market capitalization of $26.93 billion, a PE ratio of 114.81, a price-to-earnings-growth ratio of 5.70 and a beta of 0.77.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Tyler Technologies’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the business earned $1.66 EPS. On average, analysts anticipate that Tyler Technologies will post 7.36 EPS for the current fiscal year.

Insider Buying and Selling at Tyler Technologies

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 transaction 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 approximately $1,546,140.78. The trade was a 55.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Brian K. Miller sold 2,500 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $624.41, for a total value of $1,561,025.00. Following the completion of the transaction, the chief financial officer now directly owns 11,950 shares in the company, valued at $7,461,699.50. This trade represents a 17.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,100 shares of company stock valued at $22,309,090. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Tyler Technologies

A number of hedge funds have recently modified their holdings of TYL. Independence Bank of Kentucky purchased a new position in shares of Tyler Technologies during the 2nd quarter valued at $25,000. Ashton Thomas Securities LLC purchased a new position in shares of Tyler Technologies in the third quarter valued at about $27,000. Blue Trust Inc. boosted its stake in shares of Tyler Technologies by 329.4% in the second quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after acquiring an additional 56 shares during the period. Lynx Investment Advisory purchased a new stake in shares of Tyler Technologies during the second quarter worth about $38,000. Finally, International Assets Investment Management LLC bought a new stake in Tyler Technologies during the 2nd quarter valued at approximately $61,000. 93.30% of the stock is currently owned by institutional investors.

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.