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

StockNews.com upgraded shares of Tyler Technologies (NYSE:TYL) from a hold rating to a buy rating in a research report report published on Thursday.

A number of other equities research analysts have also issued reports on the stock. Barclays cut their price objective on shares of Tyler Technologies from $715.00 to $700.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Truist Financial reaffirmed a “buy” rating and issued a $775.00 target price (up from $685.00) on shares of Tyler Technologies in a report on Friday, February 14th. Piper Sandler raised their price target on Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $750.00 price objective on shares of Tyler Technologies in a report on Thursday. Finally, The Goldman Sachs Group raised their target price on shares of Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $678.75.

Tyler Technologies Stock Performance

Shares of NYSE TYL opened at $530.35 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21. Tyler Technologies has a 1 year low of $435.03 and a 1 year high of $661.31. The firm has a fifty day moving average price of $579.67 and a 200-day moving average price of $594.40. The stock has a market cap of $22.86 billion, a PE ratio of 87.52, a price-to-earnings-growth ratio of 4.93 and a beta of 0.84.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.56 by $0.22. The business had revenue of $562.43 million for the quarter, compared to analysts’ expectations of $556.45 million. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. During the same period last year, the firm earned $2.20 earnings per share. Equities analysts anticipate that Tyler Technologies will post 8.52 earnings per share for the current fiscal year.

Insider Transactions at Tyler Technologies

In other news, CFO Brian K. Miller sold 1,550 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $613.58, for a total value of $951,049.00. Following the sale, the chief financial officer now directly owns 14,026 shares in the company, valued at approximately $8,606,073.08. This represents a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $619.00, for a total value of $3,714,000.00. Following the sale, the insider now directly owns 6,983 shares of the company’s stock, valued at $4,322,477. This represents a 46.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,064 shares of company stock worth $8,688,030. 1.10% of the stock is currently owned by insiders.

Institutional Trading of Tyler Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Larson Financial Group LLC grew its holdings in shares of Tyler Technologies by 221.4% in 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 during the last quarter. Retirement Wealth Solutions LLC bought a new stake in Tyler Technologies during the 1st quarter valued at about $26,000. Sierra Ocean LLC bought a new stake in Tyler Technologies during the 4th quarter valued at about $32,000. Brown Brothers Harriman & Co. grew its stake in Tyler Technologies by 300.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock worth $32,000 after acquiring an additional 42 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Tyler Technologies during the fourth quarter worth approximately $40,000. Hedge funds and other 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.