Tyler Technologies (NYSE:TYL) Upgraded at StockNews.com

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

A number of other research firms have also recently weighed in on TYL. Piper Sandler lowered their price objective on shares of Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating for the company in a research report on Friday, April 25th. Needham & Company LLC restated a “buy” rating and set a $750.00 price target on shares of Tyler Technologies in a research report on Thursday, April 24th. Wells Fargo & Company dropped their price objective on Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Barclays decreased their target price on Tyler Technologies from $700.00 to $695.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $775.00 target price (up from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Tyler Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $674.67.

Tyler Technologies Stock Down 0.5 %

Shares of NYSE:TYL opened at $560.06 on Friday. Tyler Technologies has a 52-week low of $458.50 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 business has a fifty day moving average of $563.43 and a two-hundred day moving average of $590.90. The stock has a market cap of $24.15 billion, a P/E ratio of 92.42, a PEG ratio of 4.93 and a beta of 0.88.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.22. The business had revenue of $562.43 million during the quarter, compared to analysts’ expectations of $556.45 million. Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.20 EPS. On average, research analysts expect that Tyler Technologies will post 8.52 earnings per share for the current year.

Insider Buying and Selling

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the completion of the transaction, the insider now owns 6,983 shares in the company, valued at approximately $4,322,477. The trade was a 46.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the completion of the sale, the chief executive officer now directly owns 75,734 shares in the company, valued at $46,772,561.06. This trade represents a 7.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,462 shares of company stock worth $9,464,626 in the last quarter. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Tyler Technologies

A number of institutional investors have recently made changes to their positions in the stock. Barclays PLC increased its position in Tyler Technologies by 2.5% during the 3rd quarter. Barclays PLC now owns 88,296 shares of the technology company’s stock worth $51,543,000 after purchasing an additional 2,169 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Tyler Technologies by 148.2% during the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock worth $269,369,000 after buying an additional 275,511 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Tyler Technologies by 4.1% during the fourth quarter. Nordea Investment Management AB now owns 3,796 shares of the technology company’s stock worth $2,192,000 after buying an additional 148 shares in the last quarter. Diversified Trust Co acquired a new position in shares of Tyler Technologies in the fourth quarter valued at approximately $596,000. Finally, Czech National Bank lifted its stake in shares of Tyler Technologies by 6.8% during the fourth quarter. Czech National Bank now owns 9,280 shares of the technology company’s stock valued at $5,351,000 after buying an additional 588 shares during the period. 93.30% of the stock is owned by institutional investors and hedge funds.

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.