Tyler Technologies’ (TYL) “Equal Weight” Rating Reaffirmed at Wells Fargo & Company

Wells Fargo & Company restated their equal weight rating on shares of Tyler Technologies (NYSE:TYL) in a research note released on Tuesday morning, Marketbeat.com reports. The firm currently has a $615.00 price objective on the technology company’s stock, down from their prior price objective of $670.00.

Several other research firms also recently issued reports on TYL. Piper Sandler boosted their price objective on Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a report on Friday, October 25th. The Goldman Sachs Group reiterated a “buy” rating and set a $627.00 price target on shares of Tyler Technologies in a research note on Friday, September 13th. Truist Financial restated a “buy” rating and issued a $685.00 price objective (up previously from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Needham & Company LLC increased their target price on shares of Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, StockNews.com downgraded shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $643.77.

Tyler Technologies Trading Down 2.2 %

NYSE TYL opened at $563.25 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. The stock has a market capitalization of $24.11 billion, a P/E ratio of 102.78, a PEG ratio of 5.54 and a beta of 0.78. The firm’s 50-day moving average is $606.89 and its two-hundred day moving average is $580.07. Tyler Technologies has a 12 month low of $397.80 and a 12 month high of $638.56.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.43 by $0.09. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The firm had revenue of $543.34 million for the quarter, compared to analyst estimates of $547.34 million. During the same period in the prior year, the business posted $1.66 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Tyler Technologies will post 7.36 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Brian K. Miller sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $602.72, for a total value of $1,808,160.00. Following the completion of the transaction, the chief financial officer now directly owns 11,950 shares of the company’s stock, valued at $7,202,504. This trade represents a 20.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John S. Marr, Jr. sold 12,000 shares of the business’s stock in a transaction 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 sale, the insider now owns 6,983 shares in the company, valued at approximately $4,285,187.78. The trade was a 63.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,252 shares of company stock worth $26,096,928. 2.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in Tyler Technologies in the 3rd quarter valued at about $27,000. Quarry LP acquired a new stake in shares of Tyler Technologies in the third quarter valued at approximately $78,000. Tobam purchased a new position in shares of Tyler Technologies during the 3rd quarter worth approximately $78,000. Brooklyn Investment Group acquired a new position in shares of Tyler Technologies during the 3rd quarter worth approximately $79,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Tyler Technologies in the 3rd quarter valued at approximately $82,000. 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.