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

Tyler Technologies, Inc. (NYSE:TYL) has earned a consensus rating of “Moderate Buy” from the fourteen research firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $642.62.

TYL has been the subject of several recent research reports. Piper Sandler increased their price target on Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Barclays increased their price objective on Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a report on Friday, October 25th. StockNews.com downgraded shares of Tyler Technologies from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Robert W. Baird increased their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, JMP Securities boosted 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.

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 3,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $602.72, for a total transaction of $1,808,160.00. Following the transaction, the chief financial officer now owns 11,950 shares in the company, valued at $7,202,504. This trade represents a 20.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John S. Marr, Jr. sold 12,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the completion of the sale, the insider now directly owns 6,983 shares of the company’s stock, valued at approximately $4,285,187.78. The trade was a 63.21 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,500 shares of company stock worth $21,952,888. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TYL. Independence Bank of Kentucky bought a new stake in shares of Tyler Technologies in the second quarter valued at approximately $25,000. Ashton Thomas Securities LLC bought a new stake in shares of Tyler Technologies during the 3rd quarter valued at $27,000. Blue Trust Inc. grew its holdings in shares of Tyler Technologies by 329.4% during the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after purchasing an additional 56 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Tyler Technologies in the second quarter worth $61,000. Finally, Tobam acquired a new position in Tyler Technologies in the third quarter valued at about $78,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Tyler Technologies Price Performance

Shares of TYL opened at $611.12 on Friday. The company has a 50 day moving average of $608.72 and a 200-day moving average of $565.52. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $26.16 billion, a P/E ratio of 111.52, a P/E/G ratio of 5.66 and a beta of 0.76. Tyler Technologies has a twelve month low of $397.80 and a twelve month high of $638.56.

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, beating the consensus estimate of $2.43 by $0.09. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The firm had revenue of $543.34 million for the quarter, compared to analyst estimates of $547.34 million. During the same period in the previous year, the business earned $1.66 EPS. The company’s revenue was up 9.8% compared to the same quarter last year. As a group, equities research analysts forecast that Tyler Technologies will post 7.36 EPS for the current fiscal year.

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.