Tyler Technologies (NYSE:TYL) Sets New 1-Year High at $470.84

Tyler Technologies, Inc. (NYSE:TYL)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $470.84 and last traded at $465.21, with a volume of 17776 shares traded. The stock had previously closed at $464.46.

Analyst Ratings Changes

A number of research firms have recently commented on TYL. JPMorgan Chase & Co. upped their price objective on shares of Tyler Technologies from $500.00 to $526.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Oppenheimer upped their price target on shares of Tyler Technologies from $480.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Robert W. Baird increased their price target on shares of Tyler Technologies from $500.00 to $525.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Piper Sandler reissued an “overweight” rating and set a $520.00 price objective on shares of Tyler Technologies in a research note on Wednesday, April 24th. Finally, Needham & Company LLC restated a “buy” rating and set a $500.00 price objective on shares of Tyler Technologies in a report on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Tyler Technologies presently has an average rating of “Moderate Buy” and an average price target of $492.22.

Tyler Technologies Trading Up 1.0 %

The stock has a market capitalization of $19.91 billion, a PE ratio of 106.11, a PEG ratio of 4.34 and a beta of 0.76. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.20. The business’s 50-day moving average is $425.73 and its two-hundred day moving average is $418.21.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, February 14th. The technology company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.06. Tyler Technologies had a return on equity of 9.35% and a net margin of 9.50%. The company had revenue of $480.94 million for the quarter, compared to analysts’ expectations of $483.34 million. On average, analysts predict that Tyler Technologies, Inc. will post 7.14 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Brenda A. Cline sold 5,000 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $458.83, for a total transaction of $2,294,150.00. Following the transaction, the director now directly owns 1,358 shares of the company’s stock, valued at $623,091.14. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Brenda A. Cline sold 5,000 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $458.83, for a total transaction of $2,294,150.00. Following the completion of the transaction, the director now directly owns 1,358 shares in the company, valued at approximately $623,091.14. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John S. Marr, Jr. sold 6,500 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $437.49, for a total transaction of $2,843,685.00. Following the transaction, the insider now owns 6,400 shares in the company, valued at $2,799,936. The disclosure for this sale can be found here. Insiders sold a total of 55,608 shares of company stock worth $24,268,969 in the last 90 days. 2.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Larson Financial Group LLC increased its stake in Tyler Technologies by 675.0% during the first quarter. Larson Financial Group LLC now owns 93 shares of the technology company’s stock valued at $40,000 after purchasing an additional 81 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in Tyler Technologies during the first quarter worth about $888,000. FORA Capital LLC bought a new position in Tyler Technologies in the first quarter worth about $308,000. Daiwa Securities Group Inc. boosted its stake in Tyler Technologies by 6.6% in the first quarter. Daiwa Securities Group Inc. now owns 4,201 shares of the technology company’s stock valued at $1,785,000 after acquiring an additional 260 shares during the period. Finally, Nordea Investment Management AB boosted its stake in Tyler Technologies by 36.1% in the first quarter. Nordea Investment Management AB now owns 3,538 shares of the technology company’s stock valued at $1,497,000 after acquiring an additional 938 shares during the period. Institutional investors and hedge funds own 93.30% of the company’s stock.

Tyler Technologies Company Profile

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.