StockNews.com Downgrades Tyler Technologies (NYSE:TYL) to Hold

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

TYL has been the subject of several other research reports. DA Davidson boosted their price target on shares of Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. The Goldman Sachs Group restated a “buy” rating and issued a $627.00 price target on shares of Tyler Technologies in a report on Friday, September 13th. Piper Sandler boosted their price target 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. JMP Securities boosted their price target on shares of Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a report on Friday, October 25th. Finally, Robert W. Baird boosted 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. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $642.62.

Tyler Technologies Trading Down 1.2 %

Shares of TYL opened at $623.15 on Friday. Tyler Technologies has a 1-year low of $397.80 and a 1-year high of $638.56. The company has a 50-day moving average of $604.80 and a 200 day moving average of $561.56. The firm has a market capitalization of $26.67 billion, a price-to-earnings ratio of 113.71, a PEG ratio of 5.76 and a beta of 0.76. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The company had revenue of $543.34 million during the quarter, compared to analyst estimates of $547.34 million. During the same quarter last year, the business posted $1.66 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, research analysts expect that Tyler Technologies will post 7.36 EPS for the current year.

Insiders Place Their Bets

In other Tyler Technologies news, CFO Brian K. Miller sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $632.01, for a total transaction of $1,580,025.00. Following the sale, the chief financial officer now owns 12,198 shares of the company’s stock, valued at approximately $7,709,257.98. The trade was a 17.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $576.62, for a total transaction of $2,883,100.00. Following the sale, the chief executive officer now directly owns 75,000 shares in the company, valued at approximately $43,246,500. This represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,500 shares of company stock valued at $27,790,888. Insiders own 2.20% of the company’s stock.

Institutional Trading of Tyler Technologies

Several large investors have recently made changes to their positions in TYL. SG Americas Securities LLC lifted its stake in shares of Tyler Technologies by 18.3% in the 2nd quarter. SG Americas Securities LLC now owns 8,117 shares of the technology company’s stock valued at $4,081,000 after purchasing an additional 1,255 shares during the period. Aigen Investment Management LP acquired a new position in shares of Tyler Technologies in the 3rd quarter valued at $1,309,000. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Tyler Technologies by 21.5% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 123,253 shares of the technology company’s stock valued at $61,969,000 after purchasing an additional 21,818 shares during the period. Maiden Cove Capital LLC acquired a new position in shares of Tyler Technologies in the 3rd quarter valued at $583,000. Finally, Swedbank AB acquired a new position in shares of Tyler Technologies in the 2nd quarter valued at $251,390,000. 93.30% of the stock is 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.