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

Tyler Technologies, Inc. (NYSE:TYL) has earned an average recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $643.77.

Several analysts have weighed in on TYL shares. Truist Financial reissued a “buy” rating and set a $685.00 target price (up previously from $600.00) on shares of Tyler Technologies in a research report on Friday, October 25th. Piper Sandler boosted their price objective on shares of Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Barclays raised their target price on Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. JMP Securities boosted their price target on Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a research note on Friday, October 25th. Finally, Oppenheimer increased their price objective on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th.

Tyler Technologies Trading Down 0.3 %

Shares of NYSE:TYL opened at $591.97 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $25.34 billion, a PE ratio of 108.02, a P/E/G ratio of 4.55 and a beta of 0.78. Tyler Technologies has a 12-month low of $397.80 and a 12-month high of $638.56. The business’s fifty day simple moving average is $597.90 and its 200-day simple moving average is $586.21.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.09. The company had revenue of $543.34 million during the quarter, compared to the consensus estimate of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. Tyler Technologies’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm earned $1.66 earnings per share. As a group, equities research analysts predict that Tyler Technologies will post 7.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO H Lynn Moore, Jr. sold 6,250 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $605.82, for a total value of $3,786,375.00. Following the completion of the transaction, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at $45,436,500. This trade represents a 7.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $633.55, for a total value of $3,801,300.00. Following the transaction, the insider now directly owns 6,983 shares of the company’s stock, valued at $4,424,079.65. This trade represents a 46.21 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,252 shares of company stock worth $26,096,928. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Tyler Technologies

Hedge funds have recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Tyler Technologies by 18.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the technology company’s stock valued at $78,000 after purchasing an additional 21 shares in the last quarter. Baron Wealth Management LLC grew its stake in Tyler Technologies by 1.5% during the fourth quarter. Baron Wealth Management LLC now owns 1,487 shares of the technology company’s stock worth $857,000 after buying an additional 22 shares during the period. Oak Ridge Investments LLC increased its position in shares of Tyler Technologies by 0.8% in the fourth quarter. Oak Ridge Investments LLC now owns 3,011 shares of the technology company’s stock worth $1,736,000 after acquiring an additional 25 shares in the last quarter. FWG Holdings LLC boosted its holdings in Tyler Technologies by 3.1% in the 3rd quarter. FWG Holdings LLC now owns 910 shares of the technology company’s stock worth $551,000 after acquiring an additional 27 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. grew its position in Tyler Technologies by 2.3% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,377 shares of the technology company’s stock valued at $804,000 after acquiring an additional 31 shares in the last quarter. 93.30% of the stock is currently owned by hedge funds and other 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.