Tyler Technologies (NYSE:TYL) Downgraded to “Hold” Rating by StockNews.com

Tyler Technologies (NYSE:TYL) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Other equities analysts also recently issued reports about the stock. Robert W. Baird lifted their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. BTIG Research boosted 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. JMP Securities raised their price target on Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a report on Friday, October 25th. Needham & Company LLC boosted their price objective on Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, Piper Sandler raised their target price on Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $642.62.

Tyler Technologies Trading Down 0.7 %

Shares of TYL stock opened at $597.21 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a fifty day moving average of $594.40 and a 200-day moving average of $549.91. Tyler Technologies has a 52-week low of $397.80 and a 52-week high of $631.43. The stock has a market cap of $25.56 billion, a price-to-earnings ratio of 108.98, a P/E/G ratio of 5.41 and a beta of 0.77.

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

Insider Transactions at Tyler Technologies

In other news, Director Glenn A. Carter sold 3,350 shares of Tyler Technologies stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $582.57, for a total transaction of $1,951,609.50. Following the transaction, the director now directly owns 2,654 shares of the company’s stock, valued at $1,546,140.78. This trade represents a 55.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brian K. Miller sold 2,500 shares of Tyler Technologies 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 transaction, the chief financial officer now owns 11,950 shares in the company, valued at approximately $7,461,699.50. This represents a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,600 shares of company stock worth $16,412,595. 2.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tyler Technologies

Several institutional investors have recently modified their holdings of the business. Ashton Thomas Securities LLC acquired a new position in shares of Tyler Technologies in the third quarter valued at approximately $27,000. Independence Bank of Kentucky bought a new position in Tyler Technologies during the 2nd quarter worth about $25,000. Covestor Ltd raised its stake in shares of Tyler Technologies by 153.6% in the 1st quarter. Covestor Ltd now owns 71 shares of the technology company’s stock valued at $30,000 after purchasing an additional 43 shares during the period. Blue Trust Inc. lifted its holdings 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 valued at $37,000 after purchasing an additional 56 shares in the last quarter. Finally, Lynx Investment Advisory acquired a new stake in Tyler Technologies in the 2nd quarter valued at approximately $38,000. Institutional investors own 93.30% of the company’s stock.

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.