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

StockNews.com upgraded shares of Tyler Technologies (NYSE:TYL) from a hold rating to a buy rating in a research report released on Friday morning.

Other equities analysts also recently issued reports about the stock. JMP Securities lifted 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. Evercore ISI upgraded shares of Tyler Technologies to a “hold” rating in a research note on Friday, July 26th. Robert W. Baird boosted their target price on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday. Truist Financial reaffirmed a “buy” rating and set a $685.00 price target (up from $600.00) on shares of Tyler Technologies in a report on Friday. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $627.00 price objective on shares of Tyler Technologies in a research note on Friday, September 13th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $642.62.

Tyler Technologies Trading Down 0.9 %

Shares of TYL opened at $605.86 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.19. The stock has a market cap of $25.72 billion, a PE ratio of 137.07, a PEG ratio of 5.42 and a beta of 0.78. Tyler Technologies has a 1 year low of $361.16 and a 1 year high of $631.43. The stock has a 50 day simple moving average of $584.88 and a 200-day simple moving average of $528.21.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.09. The firm had revenue of $543.34 million during the quarter, compared to analyst estimates of $547.34 million. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.66 earnings per share. On average, sell-side analysts predict that Tyler Technologies will post 7.21 EPS for the current fiscal year.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 5,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $576.62, for a total transaction of $2,883,100.00. Following the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at approximately $43,246,500. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,250 shares of Tyler Technologies stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $576.49, for a total transaction of $3,603,062.50. Following the completion of the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $43,236,750. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of the 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 completion of the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at approximately $43,246,500. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,100 shares of company stock worth $16,890,717 over the last 90 days. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Tyler Technologies

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 Tyler Technologies during the second quarter worth about $25,000. Covestor Ltd raised its position in shares of Tyler Technologies by 153.6% in the 1st quarter. Covestor Ltd now owns 71 shares of the technology company’s stock valued at $30,000 after acquiring an additional 43 shares during the period. Blue Trust Inc. boosted its stake 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 acquiring an additional 56 shares during the last quarter. Lynx Investment Advisory acquired a new position in Tyler Technologies during the second quarter valued at approximately $38,000. Finally, Larson Financial Group LLC grew its holdings in Tyler Technologies by 675.0% during the first quarter. Larson Financial Group LLC now owns 93 shares of the technology company’s stock valued at $40,000 after purchasing an additional 81 shares during the period. 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.