Tyler Technologies (NYSE:TYL) Raised to Buy at StockNews.com

Tyler Technologies (NYSE:TYL) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

Several other research firms also recently commented on TYL. Barclays raised their price objective on Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. BTIG Research raised their price objective on Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Piper Sandler raised their price objective on Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Evercore ISI upgraded Tyler Technologies to a “hold” rating in a report on Friday, July 26th. Finally, Needham & Company LLC raised their price objective on Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Tyler Technologies has an average rating of “Moderate Buy” and an average price target of $642.62.

Tyler Technologies Trading Down 1.6 %

Shares of NYSE TYL opened at $613.08 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21. The business’s 50 day moving average price is $591.43 and its 200-day moving average price is $543.44. Tyler Technologies has a fifty-two week low of $397.80 and a fifty-two week high of $631.43. The company has a market cap of $26.24 billion, a price-to-earnings ratio of 111.88, a PEG ratio of 5.62 and a beta of 0.77.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The firm had revenue of $543.34 million for the quarter, compared to the consensus estimate of $547.34 million. During the same period in the prior year, the business posted $1.66 earnings per share. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, sell-side analysts expect that Tyler Technologies will post 7.39 earnings per share for the current year.

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,250 shares of Tyler Technologies stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $605.82, for a total transaction of $3,786,375.00. Following the completion of the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $45,436,500. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,250 shares of Tyler Technologies stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $605.82, for a total transaction of $3,786,375.00. Following the completion of the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $45,436,500. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John S. Marr, Jr. sold 5,000 shares of Tyler Technologies stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $578.94, for a total value of $2,894,700.00. Following the sale, the insider now directly owns 6,983 shares of the company’s stock, valued at approximately $4,042,738.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,100 shares of company stock valued at $17,746,270 in the last quarter. 2.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tyler Technologies

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Tyler Technologies by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 5,022,053 shares of the technology company’s stock valued at $2,134,423,000 after buying an additional 53,005 shares during the last quarter. APG Asset Management N.V. raised its stake in shares of Tyler Technologies by 1.4% during the 2nd quarter. APG Asset Management N.V. now owns 1,507,062 shares of the technology company’s stock valued at $706,994,000 after buying an additional 20,842 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Tyler Technologies by 15.3% during the 1st quarter. Janus Henderson Group PLC now owns 532,935 shares of the technology company’s stock valued at $226,501,000 after buying an additional 70,801 shares during the last quarter. Swedbank AB purchased a new position in shares of Tyler Technologies during the 2nd quarter valued at about $251,390,000. Finally, Blair William & Co. IL raised its stake in shares of Tyler Technologies by 0.5% during the 1st quarter. Blair William & Co. IL now owns 463,612 shares of the technology company’s stock valued at $197,040,000 after buying an additional 2,134 shares during the last quarter. 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.