Tyler Technologies, Inc. (NYSE:TYL) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Tyler Technologies, Inc. (NYSE:TYL) have been given an average rating of “Moderate Buy” by the fourteen research firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $642.62.

Several equities analysts have recently commented on the stock. Oppenheimer 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. Barclays lifted their price objective on Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. The Goldman Sachs Group reiterated a “buy” rating and set a $627.00 target price on shares of Tyler Technologies in a research note on Friday, September 13th. Needham & Company LLC increased their price target on shares of Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, JMP Securities lifted their target price on Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research report on Friday, October 25th.

Tyler Technologies Stock Performance

Shares of Tyler Technologies stock opened at $601.19 on Tuesday. Tyler Technologies has a one year low of $397.80 and a one year 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 business’s 50 day moving average price is $593.78 and its 200 day moving average price is $547.67. The company has a market cap of $25.73 billion, a price-to-earnings ratio of 109.71, a PEG ratio of 5.39 and a beta of 0.77.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.43 by $0.09. The firm had revenue of $543.34 million for the quarter, compared to analyst estimates of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.66 EPS. On average, research analysts predict that Tyler Technologies will post 7.39 EPS for the current year.

Insider Activity

In other Tyler Technologies news, 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 sale, the chief financial officer now owns 11,950 shares of the company’s stock, valued at approximately $7,014,291.50. This trade represents a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John S. Marr, Jr. sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $578.94, for a total transaction of $2,894,700.00. Following the sale, the insider now directly owns 6,983 shares in the company, valued at approximately $4,042,738.02. This represents a 41.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,600 shares of company stock valued at $19,307,295 over the last quarter. Corporate insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TYL. Waldron Private Wealth LLC raised its holdings 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 acquiring an additional 24 shares during the last quarter. FWG Holdings LLC increased its stake in 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 purchasing an additional 27 shares during the last quarter. Industrial Alliance Investment Management Inc. boosted its stake in Tyler Technologies by 4.4% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 693 shares of the technology company’s stock worth $295,000 after buying an additional 29 shares during the last quarter. George Kaiser Family Foundation grew its holdings in Tyler Technologies by 0.7% in the second quarter. George Kaiser Family Foundation now owns 4,177 shares of the technology company’s stock valued at $2,100,000 after purchasing an additional 29 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. grew its position in Tyler Technologies by 2.3% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,377 shares of the technology company’s stock valued at $804,000 after acquiring an additional 31 shares during the period. Hedge funds and other 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.