Tyler Technologies (NYSE:TYL) Lowered to Hold Rating by StockNews.com

Tyler Technologies (NYSE:TYL) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC upped their price objective on shares of Tyler Technologies from $600.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Robert W. Baird upped their price objective on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Oppenheimer upped their price objective on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. DA Davidson upped their price objective on shares of Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Barclays increased their target price on shares of Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Tyler Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $642.62.

Tyler Technologies Price Performance

Tyler Technologies stock opened at $623.15 on Friday. Tyler Technologies has a 52-week low of $397.80 and a 52-week high of $638.56. The firm has a market capitalization of $26.67 billion, a price-to-earnings ratio of 113.71, a PEG ratio of 5.76 and a beta of 0.76. The company has a fifty day simple moving average of $604.80 and a 200-day simple moving average of $561.56. 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 released its 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. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The business had revenue of $543.34 million during the quarter, compared to analyst estimates of $547.34 million. During the same quarter in the prior year, the firm earned $1.66 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities analysts anticipate that Tyler Technologies will post 7.36 EPS for the current fiscal year.

Insider Transactions at Tyler Technologies

In related news, CEO H Lynn Moore, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $576.62, for a total value of $2,883,100.00. Following the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at $43,246,500. This trade represents a 6.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian K. Miller sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $602.72, for a total transaction of $1,808,160.00. Following the completion of the sale, the chief financial officer now directly owns 11,950 shares in the company, valued at approximately $7,202,504. This trade represents a 20.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,500 shares of company stock valued at $27,790,888. 2.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Tyler Technologies

Hedge funds have recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in Tyler Technologies in the third quarter valued at approximately $27,000. Independence Bank of Kentucky acquired a new stake in Tyler Technologies in the second quarter valued at approximately $25,000. Blue Trust Inc. raised its holdings in Tyler Technologies by 329.4% in the second quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock valued at $37,000 after acquiring an additional 56 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Tyler Technologies in the second quarter valued at approximately $61,000. Finally, Quarry LP acquired a new stake in Tyler Technologies in the third quarter valued at approximately $78,000. Institutional investors and hedge funds 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.