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

Tyler Technologies (NYSE:TYL) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

A number of other research firms have also recently weighed in on TYL. The Goldman Sachs Group restated a “buy” rating and set a $627.00 price objective on shares of Tyler Technologies in a research report on Friday, September 13th. DA Davidson upped their price target 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 lifted 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. JMP Securities increased their target price on Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a report on Friday, October 25th. Finally, Barclays raised their target price on Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Tyler Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $642.62.

Tyler Technologies Trading Down 0.2 %

TYL stock opened at $629.17 on Thursday. Tyler Technologies has a 52-week low of $397.80 and a 52-week high of $637.53. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18. The firm has a market cap of $26.93 billion, a P/E ratio of 115.04, a PEG ratio of 5.71 and a beta of 0.77. The company’s 50-day simple moving average is $599.13 and its 200-day simple moving average is $555.27.

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 analysts’ consensus estimates of $2.43 by $0.09. The company had revenue of $543.34 million for the quarter, compared to the consensus estimate of $547.34 million. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. Tyler Technologies’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.66 earnings per share. As a group, equities analysts forecast that Tyler Technologies will post 7.36 EPS for the current fiscal year.

Insider Activity at Tyler Technologies

In related news, insider John S. Marr, Jr. sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $613.66, for a total value of $7,363,920.00. Following the transaction, the insider now directly owns 6,983 shares in the company, valued at approximately $4,285,187.78. This represents a 63.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brian K. Miller sold 2,500 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was 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 approximately $7,461,699.50. This trade represents a 17.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,100 shares of company stock valued at $22,309,090. 2.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tyler Technologies

A number of hedge funds have recently modified their holdings of the business. Independence Bank of Kentucky purchased a new stake in Tyler Technologies in the 2nd quarter valued at about $25,000. Ashton Thomas Securities LLC purchased a new position in shares of Tyler Technologies during the 3rd quarter worth approximately $27,000. Blue Trust Inc. increased its holdings in Tyler Technologies by 329.4% in the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock valued at $37,000 after purchasing an additional 56 shares during the last quarter. Lynx Investment Advisory purchased a new stake in Tyler Technologies in the second quarter valued at approximately $38,000. Finally, International Assets Investment Management LLC acquired a new position in Tyler Technologies during the second quarter worth $61,000. 93.30% of the stock is currently owned by hedge funds and other 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.