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

Shares of Tyler Technologies, Inc. (NYSE:TYL) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $582.31.

A number of equities analysts have recently commented on TYL shares. Needham & Company LLC reiterated a “buy” rating and issued a $600.00 price objective on shares of Tyler Technologies in a research note on Thursday, July 25th. Barclays lifted their price target on Tyler Technologies from $515.00 to $577.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Piper Sandler increased their price objective on Tyler Technologies from $529.00 to $625.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. BTIG Research boosted their target price on shares of Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, JMP Securities increased their price target on shares of Tyler Technologies from $490.00 to $580.00 and gave the company a “market outperform” rating in a report on Monday, July 22nd.

Tyler Technologies Stock Down 0.4 %

Shares of Tyler Technologies stock opened at $577.80 on Monday. Tyler Technologies has a 12-month low of $361.16 and a 12-month high of $598.93. The stock has a market capitalization of $24.53 billion, a P/E ratio of 130.72, a PEG ratio of 5.42 and a beta of 0.78. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.19. The stock has a 50 day moving average price of $570.67 and a two-hundred day moving average price of $498.60.

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

Insiders Place Their Bets

In other Tyler Technologies news, Director Daniel M. Pope sold 275 shares of Tyler Technologies stock in a transaction on Monday, July 29th. The stock was sold at an average price of $578.26, for a total transaction of $159,021.50. Following the completion of the transaction, the director now directly owns 3,218 shares of the company’s stock, valued at $1,860,840.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Daniel M. Pope sold 275 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was 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 in the company, valued at approximately $1,860,840.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $590.98, for a total value of $2,954,900.00. Following the sale, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at $44,323,500. The disclosure for this sale can be found here. Insiders sold a total of 29,375 shares of company stock worth $17,049,739 over the last quarter. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Independence Bank of Kentucky bought a new position in shares of Tyler Technologies in the second quarter worth about $25,000. Kapitalo Investimentos Ltda bought a new position in Tyler Technologies in the 4th quarter worth approximately $26,000. Covestor Ltd lifted its holdings in Tyler Technologies by 153.6% during the 1st quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after buying an additional 43 shares in the last quarter. Blue Trust Inc. lifted its holdings in Tyler Technologies by 329.4% during the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after buying an additional 56 shares in the last quarter. Finally, Lynx Investment Advisory bought a new position in Tyler Technologies in the 2nd quarter valued at $38,000. Institutional investors and hedge funds 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.