Wall Street Zen Downgrades Tyler Technologies (NYSE:TYL) to Hold

Tyler Technologies (NYSE:TYL) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Several other research analysts have also recently commented on the company. Robert W. Baird lowered their target price on Tyler Technologies from $785.00 to $700.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. DA Davidson lowered their target price on Tyler Technologies from $595.00 to $570.00 and set a “neutral” rating for the company in a research note on Friday, April 25th. The Goldman Sachs Group boosted their target price on Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Truist Financial reaffirmed a “buy” rating and set a $775.00 price target (up from $685.00) on shares of Tyler Technologies in a report on Friday, February 14th. Finally, Barclays reduced their target price on Tyler Technologies from $700.00 to $695.00 and set an “overweight” rating for the company in a report on Friday, April 25th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Tyler Technologies presently has an average rating of “Moderate Buy” and an average price target of $687.82.

Tyler Technologies Trading Up 0.2%

Shares of NYSE TYL opened at $567.72 on Wednesday. Tyler Technologies has a twelve month low of $458.50 and a twelve month high of $661.31. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The stock has a fifty day simple moving average of $561.66 and a 200-day simple moving average of $588.75. The stock has a market capitalization of $24.48 billion, a PE ratio of 93.68, a PEG ratio of 4.93 and a beta of 0.88.

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

Insider Activity at Tyler Technologies

In related news, insider John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $619.00, for a total value of $3,714,000.00. Following the completion of the transaction, the insider now directly owns 6,983 shares of the company’s stock, valued at $4,322,477. This trade represents a 46.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total value of $4,022,981.26. Following the completion of the transaction, the chief executive officer now directly owns 75,734 shares of the company’s stock, valued at $46,772,561.06. The trade was a 7.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,962 shares of company stock valued at $13,702,451 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Tyler Technologies

Hedge funds have recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. increased its position in Tyler Technologies by 20.7% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 42,500 shares of the technology company’s stock worth $24,507,000 after buying an additional 7,300 shares in the last quarter. Kensington Investment Counsel LLC increased its position in Tyler Technologies by 0.8% during the fourth quarter. Kensington Investment Counsel LLC now owns 2,496 shares of the technology company’s stock worth $1,439,000 after buying an additional 20 shares in the last quarter. Barclays PLC increased its position in Tyler Technologies by 2.5% during the third quarter. Barclays PLC now owns 88,296 shares of the technology company’s stock worth $51,543,000 after buying an additional 2,169 shares in the last quarter. JPMorgan Chase & Co. increased its position in 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. Finally, Swedbank AB increased its position in Tyler Technologies by 1.7% during the fourth quarter. Swedbank AB now owns 459,850 shares of the technology company’s stock worth $265,168,000 after buying an additional 7,838 shares in 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.