Tyler Technologies (NYSE:TYL) Given “Neutral” Rating at DA Davidson

Tyler Technologies (NYSE:TYL)‘s stock had its “neutral” rating reissued by equities researchers at DA Davidson in a report issued on Thursday,Benzinga reports. They currently have a $575.00 target price on the technology company’s stock. DA Davidson’s price objective points to a potential downside of 4.49% from the stock’s current price.

A number of other analysts have also recently commented on TYL. Barclays boosted their target price on shares of Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Truist Financial reiterated a “buy” rating and set a $685.00 price objective (up from $600.00) on shares of Tyler Technologies in a research note on Friday, October 25th. 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 report on Friday, October 25th. Needham & Company LLC reiterated a “buy” rating and set a $700.00 price target on shares of Tyler Technologies in a research report on Tuesday, January 21st. Finally, Robert W. Baird raised 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. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tyler Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $645.69.

Tyler Technologies Price Performance

Tyler Technologies stock opened at $602.04 on Thursday. The stock has a market capitalization of $25.77 billion, a P/E ratio of 109.86, a P/E/G ratio of 4.72 and a beta of 0.78. The company’s fifty day moving average price is $598.48 and its 200 day moving average price is $588.85. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21. Tyler Technologies has a 1 year low of $397.80 and a 1 year high of $638.56.

Insider Buying and Selling

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,250 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $605.82, for a total transaction of $3,786,375.00. Following the completion of the transaction, the chief executive officer now owns 75,000 shares of the company’s stock, valued at $45,436,500. This trade represents a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brian K. Miller sold 2,500 shares of Tyler Technologies stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $624.41, for a total transaction of $1,561,025.00. Following the sale, the chief financial officer now owns 11,950 shares of the company’s stock, 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. Over the last three months, insiders sold 42,252 shares of company stock worth $26,096,928. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TYL. CIBC Asset Management Inc raised its holdings in shares of Tyler Technologies by 4.7% in the 4th quarter. CIBC Asset Management Inc now owns 6,500 shares of the technology company’s stock valued at $3,748,000 after buying an additional 289 shares during the period. Sanctuary Advisors LLC increased its stake in Tyler Technologies by 3.6% during the fourth quarter. Sanctuary Advisors LLC now owns 14,215 shares of the technology company’s stock worth $8,513,000 after purchasing an additional 499 shares during the period. Sierra Ocean LLC acquired a new stake in shares of Tyler Technologies during the fourth quarter worth about $32,000. PUREfi Wealth LLC acquired a new stake in shares of Tyler Technologies during the fourth quarter worth about $300,000. Finally, Adell Harriman & Carpenter Inc. purchased a new position in shares of Tyler Technologies in the fourth quarter valued at approximately $263,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

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.