Tyler Technologies (NYSE:TYL) Sets New 52-Week High – Should You Buy?

Tyler Technologies, Inc. (NYSE:TYL) shares hit a new 52-week high during trading on Monday . The stock traded as high as $599.85 and last traded at $597.79, with a volume of 51894 shares traded. The stock had previously closed at $594.41.

Analyst Upgrades and Downgrades

TYL has been the subject of several research reports. Needham & Company LLC restated a “buy” rating and set a $600.00 price target on shares of Tyler Technologies in a report on Thursday, July 25th. Oppenheimer boosted their price target on shares of Tyler Technologies from $550.00 to $625.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Wells Fargo & Company lifted their target price on shares of Tyler Technologies from $580.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Barclays upgraded shares of Tyler Technologies from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $577.00 to $700.00 in a research note on Monday, October 7th. Finally, Truist Financial reiterated a “buy” rating and issued a $600.00 price objective (up previously from $560.00) on shares of Tyler Technologies in a research report on Friday, July 26th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tyler Technologies has a consensus rating of “Moderate Buy” and an average target price of $591.77.

Tyler Technologies Stock Down 1.7 %

The stock has a market capitalization of $25.07 billion, a P/E ratio of 133.01, a PEG ratio of 5.42 and a beta of 0.78. The firm’s 50-day simple moving average is $582.69 and its 200 day simple moving average is $518.28. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.06 and a current ratio of 1.06.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.06. The firm had revenue of $540.98 million during the quarter, compared to analysts’ expectations of $541.01 million. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.53 earnings per share. As a group, research analysts expect that Tyler Technologies, Inc. will post 7.21 EPS for the current year.

Insider Buying and Selling

In related news, Director Daniel M. Pope sold 275 shares of Tyler Technologies stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $578.26, for a total transaction of $159,021.50. Following the sale, the director now directly owns 3,218 shares of the company’s stock, valued at approximately $1,860,840.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Tyler Technologies news, Director Daniel M. Pope sold 275 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $578.26, for a total transaction of $159,021.50. Following the completion of the sale, the director now owns 3,218 shares in the company, valued at approximately $1,860,840.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $576.62, for a total value of $2,883,100.00. Following the transaction, the chief executive officer now owns 75,000 shares in the company, valued at approximately $43,246,500. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,375 shares of company stock worth $17,049,739. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Tyler Technologies

Large investors have recently made changes to their positions in the business. Independence Bank of Kentucky bought a new position in shares of Tyler Technologies during the second quarter valued at $25,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Tyler Technologies during the 4th quarter valued at about $26,000. Covestor Ltd grew its stake in shares of Tyler Technologies by 153.6% in the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after acquiring an additional 43 shares during the period. Blue Trust Inc. lifted its position in Tyler Technologies by 329.4% during 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 during the period. Finally, Lynx Investment Advisory purchased a new stake in Tyler Technologies in the second quarter worth approximately $38,000. 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.