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

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

A number of other equities analysts also recently issued reports on TYL. Wells Fargo & Company reiterated an “equal weight” rating and set a $615.00 price target (down previously from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. Truist Financial reiterated a “buy” rating and set a $775.00 target price (up previously from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Barclays lifted their price target on shares of Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. The Goldman Sachs Group upped their price objective on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $700.00 target price on shares of Tyler Technologies in a research report on Tuesday, January 21st. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $676.25.

Tyler Technologies Stock Up 1.9 %

TYL stock opened at $568.42 on Friday. The stock has a market capitalization of $24.50 billion, a PE ratio of 93.80, a price-to-earnings-growth ratio of 4.93 and a beta of 0.84. Tyler Technologies has a 52 week low of $397.80 and a 52 week high of $661.31. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. The firm has a 50 day moving average of $590.08 and a 200 day moving average of $595.48.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 earnings per share 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%. Sell-side analysts forecast that Tyler Technologies will post 8.52 earnings per share for the current year.

Insider Buying and Selling

In other news, insider John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 6,983 shares of the company’s stock, valued at approximately $4,322,477. This trade represents a 46.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Brian K. Miller sold 1,550 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $613.58, for a total transaction of $951,049.00. Following the completion of the transaction, the chief financial officer now owns 14,026 shares of the company’s stock, valued at approximately $8,606,073.08. This trade represents a 9.95 % 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 currently owned by insiders.

Institutional Investors Weigh In On Tyler Technologies

A number of large investors have recently modified their holdings of TYL. Integrated Wealth Concepts LLC boosted its holdings in Tyler Technologies by 2.3% in the fourth quarter. Integrated Wealth Concepts LLC now owns 786 shares of the technology company’s stock valued at $453,000 after purchasing an additional 18 shares in the last quarter. AdvisorNet Financial Inc lifted its position in shares of Tyler Technologies by 7.0% during the 1st quarter. AdvisorNet Financial Inc now owns 291 shares of the technology company’s stock worth $169,000 after buying an additional 19 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Tyler Technologies by 0.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,668 shares of the technology company’s stock valued at $2,115,000 after buying an additional 20 shares in the last quarter. Kensington Investment Counsel LLC grew its position in shares of Tyler Technologies by 0.8% in the 4th quarter. Kensington Investment Counsel LLC now owns 2,496 shares of the technology company’s stock valued at $1,439,000 after buying an additional 20 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Tyler Technologies by 18.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the technology company’s stock worth $78,000 after acquiring an additional 21 shares in the last quarter. 93.30% of the stock is 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.