Tyler Technologies (NYSE:TYL) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Tyler Technologies (NYSE:TYL) from a hold rating to a buy rating in a research note issued to investors on Tuesday.

Several other brokerages also recently issued reports on TYL. Barclays upped their price target on shares of Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Truist Financial reissued a “buy” rating and set a $685.00 price objective (up from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. DA Davidson boosted their price objective on Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Robert W. Baird boosted their price objective on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company boosted their price objective on Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tyler Technologies currently has an average rating of “Moderate Buy” and an average target price of $642.62.

Tyler Technologies Stock Down 2.8 %

Shares of NYSE:TYL opened at $597.10 on Tuesday. Tyler Technologies has a 52 week low of $397.80 and a 52 week high of $631.43. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21. The company’s fifty day moving average is $593.78 and its 200-day moving average is $546.45. The company has a market capitalization of $25.56 billion, a PE ratio of 108.96, a P/E/G ratio of 5.56 and a beta of 0.77.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results 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 business had revenue of $543.34 million for the quarter, compared to the consensus estimate of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.66 EPS. Equities research analysts predict that Tyler Technologies will post 7.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO H Lynn Moore, Jr. sold 6,250 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $605.82, for a total value of $3,786,375.00. Following the completion of the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $45,436,500. This represents a 7.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Brian K. Miller sold 2,500 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $624.41, for a total value of $1,561,025.00. Following the sale, the chief financial officer now directly owns 11,950 shares of the company’s stock, valued at $7,461,699.50. This represents a 17.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 32,600 shares of company stock valued at $19,307,295. 2.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Waldron Private Wealth LLC increased its position in shares of Tyler Technologies by 3.5% in the second quarter. Waldron Private Wealth LLC now owns 716 shares of the technology company’s stock worth $360,000 after purchasing an additional 24 shares during the period. FWG Holdings LLC increased its stake in shares of Tyler Technologies by 3.1% in the third quarter. FWG Holdings LLC now owns 910 shares of the technology company’s stock valued at $551,000 after buying an additional 27 shares during the period. Industrial Alliance Investment Management Inc. raised its holdings in Tyler Technologies by 4.4% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 693 shares of the technology company’s stock worth $295,000 after purchasing an additional 29 shares during the last quarter. George Kaiser Family Foundation boosted its position in Tyler Technologies by 0.7% during the second quarter. George Kaiser Family Foundation now owns 4,177 shares of the technology company’s stock valued at $2,100,000 after acquiring an additional 29 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its position in shares of Tyler Technologies by 2.3% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,377 shares of the technology company’s stock worth $804,000 after acquiring an additional 31 shares in the last quarter. Institutional investors own 93.30% of the company’s stock.

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.