Tyler Technologies (NYSE:TYL) Upgraded 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 report report published on Tuesday.

Other equities research analysts have also issued reports about the company. Wells Fargo & Company raised their price target on Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. BTIG Research upped their target price on Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Piper Sandler upped their price target on Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Needham & Company LLC upped their target price on Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Barclays boosted their target price on shares of Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Tyler Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $642.62.

Tyler Technologies Stock Up 1.0 %

NYSE TYL opened at $619.57 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies has a 12 month low of $397.80 and a 12 month high of $631.43. The stock’s 50 day moving average is $592.25 and its 200 day moving average is $544.55. The stock has a market cap of $26.52 billion, a PE ratio of 113.06, a P/E/G ratio of 5.53 and a beta of 0.77.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.09. The business had revenue of $543.34 million during the quarter, compared to analysts’ expectations 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 was up 9.8% on a year-over-year basis. During the same period last year, the company posted $1.66 EPS. Research analysts predict that Tyler Technologies will post 7.39 EPS for the current fiscal year.

Insider Transactions at Tyler Technologies

In other news, insider John S. Marr, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $578.94, for a total transaction of $2,894,700.00. Following the completion of the sale, the insider now owns 6,983 shares of the company’s stock, valued at approximately $4,042,738.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Brian K. Miller sold 2,500 shares of the company’s 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 completion of the sale, the chief financial officer now owns 11,950 shares of the company’s stock, valued at $7,014,291.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John S. Marr, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $578.94, for a total value of $2,894,700.00. Following the completion of the sale, the insider now owns 6,983 shares of the company’s stock, valued at $4,042,738.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,600 shares of company stock valued at $19,307,295 over the last quarter. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Tyler Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Tyler Technologies by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 5,022,053 shares of the technology company’s stock valued at $2,134,423,000 after buying an additional 53,005 shares during the period. APG Asset Management N.V. raised its holdings in shares of Tyler Technologies by 1.4% during the second quarter. APG Asset Management N.V. now owns 1,507,062 shares of the technology company’s stock worth $706,994,000 after acquiring an additional 20,842 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Tyler Technologies by 4.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 904,175 shares of the technology company’s stock valued at $527,785,000 after buying an additional 36,066 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Tyler Technologies by 15.3% during the 1st quarter. Janus Henderson Group PLC now owns 532,935 shares of the technology company’s stock worth $226,501,000 after purchasing an additional 70,801 shares during the last quarter. Finally, Swedbank AB acquired a new position in Tyler Technologies during the second quarter worth $251,390,000. 93.30% of the stock is currently owned by institutional investors.

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.