StockNews.com Upgrades Tyler Technologies (NYSE:TYL) to Buy

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

TYL has been the subject of several other research reports. Needham & Company LLC reiterated a “buy” rating and issued a $700.00 target price on shares of Tyler Technologies in a report on Tuesday, January 21st. The Goldman Sachs Group lifted their target price on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Piper Sandler boosted their target price on Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Truist Financial reaffirmed a “buy” rating and set a $775.00 price target (up from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Finally, DA Davidson reissued a “neutral” rating and issued a $575.00 price objective on shares of Tyler Technologies in a research report on Thursday, January 30th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $676.25.

Tyler Technologies Stock Down 2.2 %

Shares of TYL traded down $12.70 on Thursday, reaching $569.12. The company’s stock had a trading volume of 281,733 shares, compared to its average volume of 249,948. Tyler Technologies has a twelve month low of $397.80 and a twelve month high of $661.31. The stock has a market capitalization of $24.53 billion, a PE ratio of 93.91, a PEG ratio of 4.93 and a beta of 0.80. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The firm has a fifty day moving average of $599.42 and a 200-day moving average of $597.41.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. Equities analysts predict that Tyler Technologies will post 8.52 EPS for the current year.

Insider Transactions at Tyler Technologies

In related news, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $619.00, for a total value of $3,714,000.00. Following the completion of the transaction, the insider now directly owns 6,983 shares in the company, valued at approximately $4,322,477. The trade was a 46.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian K. Miller sold 1,550 shares of the stock in a transaction 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 owns 14,026 shares in the company, valued at approximately $8,606,073.08. This represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,064 shares of company stock worth $8,688,030 over the last quarter. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TYL. Larson Financial Group LLC lifted 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 buying an additional 31 shares in the last quarter. Sierra Ocean LLC bought a new stake in Tyler Technologies during the 4th quarter worth approximately $32,000. Brown Brothers Harriman & Co. lifted 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 purchasing an additional 42 shares in the last quarter. Kapitalo Investimentos Ltda bought a new position in Tyler Technologies in the 4th quarter valued at $40,000. Finally, OFI Invest Asset Management purchased a new position in shares of Tyler Technologies during the 4th quarter valued at $41,000. 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.