Tyler Technologies (NYSE:TYL) Upgraded at StockNews.com

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

Several other equities research analysts have also weighed in on TYL. Truist Financial reaffirmed a “buy” rating and issued a $775.00 target price (up from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Piper Sandler lifted their price objective on shares of Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. DA Davidson reissued a “neutral” rating and set a $575.00 target price on shares of Tyler Technologies in a research note on Thursday, January 30th. Wells Fargo & Company restated an “equal weight” rating and issued a $615.00 price target (down previously from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. Finally, Barclays boosted their price objective on Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $676.25.

Tyler Technologies Price Performance

Shares of NYSE:TYL opened at $569.12 on Thursday. The company has a market cap of $24.53 billion, a PE ratio of 93.91, a P/E/G ratio of 4.93 and a beta of 0.80. Tyler Technologies has a fifty-two week low of $397.80 and a fifty-two week high of $661.31. The firm has a 50-day simple moving average of $599.42 and a 200 day simple moving average of $597.41. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last issued its earnings results 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%. On average, sell-side analysts anticipate that Tyler Technologies will post 8.52 EPS for the current year.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $619.00, for a total value of $3,714,000.00. Following the completion of the sale, the insider now directly owns 6,983 shares of the company’s stock, valued at approximately $4,322,477. This represents a 46.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the completion of the transaction, the chief executive officer now directly owns 75,734 shares in the company, valued at $46,772,561.06. This represents a 7.92 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,064 shares of company stock valued at $8,688,030. 2.20% of the stock is owned by corporate insiders.

Institutional Trading of Tyler Technologies

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Tyler Technologies by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 5,310,401 shares of the technology company’s stock valued at $3,062,190,000 after acquiring an additional 62,420 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Tyler Technologies by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 1,136,734 shares of the technology company’s stock valued at $654,406,000 after purchasing an additional 27,826 shares during the period. Franklin Resources Inc. increased its stake in Tyler Technologies by 7.9% in the 4th quarter. Franklin Resources Inc. now owns 984,615 shares of the technology company’s stock worth $567,768,000 after purchasing an additional 71,869 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Tyler Technologies by 3.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 939,373 shares of the technology company’s stock worth $541,680,000 after buying an additional 35,198 shares during the period. Finally, Norges Bank purchased a new stake in Tyler Technologies during the fourth quarter valued at about $528,465,000. 93.30% of the stock is currently owned by institutional investors.

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.