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

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

Other equities analysts also recently issued research reports about the stock. The Goldman Sachs Group boosted their price target on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Barclays increased their target price on shares of Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Truist Financial reissued a “buy” rating and issued a $775.00 price objective (up from $685.00) on shares of Tyler Technologies in a report on Friday, February 14th. Piper Sandler lifted their target price on Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $615.00 price target (down from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $676.25.

Tyler Technologies Stock Up 0.2 %

Shares of TYL opened at $616.80 on Monday. The firm has a market cap of $26.53 billion, a P/E ratio of 101.78, a PEG ratio of 4.93 and a beta of 0.78. The stock’s 50 day moving average is $598.17 and its two-hundred day moving average is $597.36. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies has a 12 month low of $397.80 and a 12 month high of $661.31.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. Analysts predict that Tyler Technologies will post 8.52 earnings per share for the current fiscal year.

Insider Transactions at Tyler Technologies

In related news, insider John S. Marr, Jr. sold 6,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $633.55, for a total value of $3,801,300.00. Following the completion of the transaction, the insider now directly owns 6,983 shares in the company, valued at approximately $4,424,079.65. This represents a 46.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brian K. Miller sold 6,752 shares of Tyler Technologies stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $613.75, for a total value of $4,144,040.00. Following the sale, the chief financial officer now directly owns 11,918 shares in the company, valued at $7,314,672.50. The trade was a 36.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,252 shares of company stock valued at $9,525,365. 2.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Tyler Technologies

A number of hedge funds have recently added to or reduced their stakes in TYL. Larson Financial Group LLC raised its position in shares of Tyler Technologies by 221.4% in the 4th quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock valued at $26,000 after acquiring an additional 31 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of Tyler Technologies during the 3rd quarter worth about $27,000. Sierra Ocean LLC bought a new position in Tyler Technologies in the fourth quarter valued at approximately $32,000. Brown Brothers Harriman & Co. increased its holdings in Tyler Technologies by 300.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock worth $32,000 after buying an additional 42 shares during the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Tyler Technologies during the 4th quarter worth about $40,000. 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.