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

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

A number of other analysts also recently weighed in on TYL. DA Davidson upped their target price on shares of Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Robert W. Baird upped their price objective on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. JMP Securities lifted their target price 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. Barclays upped their price target on Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, Wells Fargo & Company raised their price objective on Tyler Technologies from $580.00 to $600.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Tyler Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $642.62.

Tyler Technologies Stock Performance

Shares of TYL stock opened at $609.09 on Wednesday. The firm has a market capitalization of $26.07 billion, a price-to-earnings ratio of 111.15, a PEG ratio of 5.41 and a beta of 0.77. The stock has a fifty day moving average of $595.22 and a 200 day moving average of $551.16. Tyler Technologies has a 52 week low of $397.80 and a 52 week high of $631.43. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.52 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 analysts’ expectations of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company posted $1.66 EPS. As a group, research analysts expect that Tyler Technologies will post 7.36 earnings per share for the current year.

Insider Activity

In other Tyler Technologies news, Director Glenn A. Carter sold 3,350 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $582.57, for a total transaction of $1,951,609.50. Following the completion of the sale, the director now directly owns 2,654 shares in the company, valued at approximately $1,546,140.78. The trade was a 55.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian K. Miller sold 2,500 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $586.97, for a total value of $1,467,425.00. Following the completion of the transaction, the chief financial officer now owns 11,950 shares in the company, valued at approximately $7,014,291.50. This trade represents a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,600 shares of company stock valued at $16,412,595 over the last three months. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Tyler Technologies

Institutional investors have recently made changes to their positions in the business. Covestor Ltd raised its position in Tyler Technologies by 153.6% in the first quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after acquiring an additional 43 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in Tyler Technologies by 143.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,794 shares of the technology company’s stock worth $762,000 after purchasing an additional 1,058 shares during the period. Bessemer Group Inc. lifted its position in Tyler Technologies by 39.4% during the first quarter. Bessemer Group Inc. now owns 6,840 shares of the technology company’s stock valued at $2,906,000 after purchasing an additional 1,935 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in Tyler Technologies by 2.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 17,040 shares of the technology company’s stock valued at $7,237,000 after purchasing an additional 449 shares during the period. Finally, Natixis increased its position in Tyler Technologies by 114.0% in the first quarter. Natixis now owns 2,253 shares of the technology company’s stock worth $958,000 after buying an additional 1,200 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.