Tyler Technologies (NYSE:TYL) Upgraded by StockNews.com to Buy Rating

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

A number of other analysts also recently issued reports on TYL. Barclays raised their price target on Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. DA Davidson raised their price target on Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Truist Financial reiterated a “buy” rating and issued a $685.00 target price (up previously from $600.00) on shares of Tyler Technologies in a research note on Friday, October 25th. JMP Securities increased their target price on Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research note on Friday, October 25th. Finally, Oppenheimer increased their target price on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Tyler Technologies presently has an average rating of “Moderate Buy” and an average price target of $642.62.

Tyler Technologies Stock Down 0.7 %

Shares of TYL opened at $630.44 on Thursday. The company has a market cap of $26.98 billion, a PE ratio of 115.04, a P/E/G ratio of 5.65 and a beta of 0.77. The business has a fifty day moving average of $597.11 and a 200 day moving average of $554.21. Tyler Technologies has a 52-week low of $397.80 and a 52-week high of $637.53. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18.

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

Insider Activity

In other news, Director Glenn A. Carter sold 3,350 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $582.57, for a total transaction of $1,951,609.50. Following the transaction, the director now owns 2,654 shares in the company, valued at approximately $1,546,140.78. This trade represents a 55.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $590.98, for a total value of $2,954,900.00. Following the transaction, the chief executive officer now owns 75,000 shares in the company, valued at approximately $44,323,500. This represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,100 shares of company stock worth $22,309,090. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Tyler Technologies

A number of institutional investors have recently added to or reduced their stakes in TYL. Swedbank AB bought a new stake in Tyler Technologies during the second quarter valued at about $251,390,000. International Assets Investment Management LLC boosted its position in Tyler Technologies by 252,047.5% during the third quarter. International Assets Investment Management LLC now owns 307,620 shares of the technology company’s stock valued at $179,564,000 after purchasing an additional 307,498 shares in the last quarter. FMR LLC boosted its position in Tyler Technologies by 94.1% during the third quarter. FMR LLC now owns 109,319 shares of the technology company’s stock valued at $63,812,000 after purchasing an additional 52,984 shares in the last quarter. Westwind Capital boosted its position in Tyler Technologies by 7,614.0% during the third quarter. Westwind Capital now owns 46,361 shares of the technology company’s stock valued at $27,062,000 after purchasing an additional 45,760 shares in the last quarter. Finally, LMR Partners LLP bought a new stake in Tyler Technologies during the third quarter valued at about $23,383,000. 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.