Tyler Technologies, Inc. (NYSE:TYL) Given Consensus Recommendation of “Buy” by Brokerages

Tyler Technologies, Inc. (NYSE:TYL – Get Rating) has been assigned an average rating of “Buy” from the fifteen research firms that are presently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $512.69.

Several analysts recently weighed in on the stock. Truist Financial assumed coverage on shares of Tyler Technologies in a report on Wednesday, February 9th. They issued a “buy” rating and a $550.00 price target on the stock. StockNews.com started coverage on shares of Tyler Technologies in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Barclays started coverage on shares of Tyler Technologies in a report on Monday, March 14th. They set an “equal weight” rating and a $445.00 target price on the stock. Piper Sandler dropped their target price on shares of Tyler Technologies from $600.00 to $540.00 and set an “overweight” rating on the stock in a report on Friday, February 18th. Finally, TheStreet cut shares of Tyler Technologies from a “b-” rating to a “c+” rating in a report on Wednesday, April 27th.

In other news, CFO Brian K. Miller sold 2,500 shares of the firm’s stock in a transaction on Friday, May 13th. The shares were sold at an average price of $358.97, for a total transaction of $897,425.00. Following the sale, the chief financial officer now directly owns 28,594 shares in the company, valued at approximately $10,264,388.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel M. Pope sold 696 shares of the firm’s stock in a transaction on Tuesday, March 15th. The shares were sold at an average price of $402.06, for a total transaction of $279,833.76. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of TYL. O Shaughnessy Asset Management LLC grew its stake in shares of Tyler Technologies by 34.5% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 74 shares of the technology company’s stock worth $34,000 after buying an additional 19 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Tyler Technologies by 8.1% in the 3rd quarter. Goldman Sachs Group Inc. now owns 54,346 shares of the technology company’s stock worth $24,926,000 after buying an additional 4,072 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Tyler Technologies by 14.2% in the 3rd quarter. American Century Companies Inc. now owns 1,132 shares of the technology company’s stock worth $519,000 after buying an additional 141 shares in the last quarter. Public Sector Pension Investment Board grew its stake in shares of Tyler Technologies by 7.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 6,880 shares of the technology company’s stock worth $3,156,000 after buying an additional 490 shares in the last quarter. Finally, Bank of Nova Scotia grew its stake in shares of Tyler Technologies by 40.0% in the 3rd quarter. Bank of Nova Scotia now owns 11,193 shares of the technology company’s stock worth $5,134,000 after buying an additional 3,196 shares in the last quarter. 90.14% of the stock is owned by institutional investors.

TYL traded up $10.51 on Friday, reaching $361.90. The company had a trading volume of 4,977 shares, compared to its average volume of 228,596. The business has a 50 day simple moving average of $394.94 and a 200 day simple moving average of $451.53. The company has a market cap of $15.01 billion, a price-to-earnings ratio of 93.72 and a beta of 0.82. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.12 and a current ratio of 1.12. Tyler Technologies has a 52-week low of $327.97 and a 52-week high of $557.55.

Tyler Technologies (NYSE:TYL – Get Rating) last posted its quarterly earnings results on Wednesday, April 27th. The technology company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.31 by $0.12. The firm had revenue of $456.11 million for the quarter, compared to the consensus estimate of $435.29 million. Tyler Technologies had a net margin of 9.38% and a return on equity of 10.62%. During the same period last year, the firm posted $1.08 earnings per share. As a group, equities research analysts predict that Tyler Technologies will post 5.73 EPS for the current fiscal year.

Tyler Technologies Company Profile (Get Rating)

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. The company operates in three segments: Enterprise Software; Appraisal and Tax; and NIC. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools.

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