Tyler Technologies, Inc. (NYSE:TYL) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Tyler Technologies, Inc. (NYSE:TYL) have been given an average rating of “Moderate Buy” by the fifteen ratings firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $467.5385.

Several brokerages have commented on TYL. Barclays cut their target price on Tyler Technologies from $715.00 to $410.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $325.00 price target on shares of Tyler Technologies in a report on Friday, February 13th. Needham & Company LLC reiterated a “buy” rating and issued a $750.00 price target on shares of Tyler Technologies in a research note on Tuesday, February 3rd. Wells Fargo & Company lowered their price objective on shares of Tyler Technologies from $420.00 to $335.00 and set an “equal weight” rating on the stock in a research report on Friday, February 13th. Finally, TD Cowen dropped their target price on shares of Tyler Technologies from $600.00 to $500.00 and set a “buy” rating on the stock in a report on Friday, February 13th.

Tyler Technologies Stock Up 0.5%

TYL stock opened at $354.86 on Monday. Tyler Technologies has a twelve month low of $283.71 and a twelve month high of $626.56. The firm has a market cap of $15.26 billion, a PE ratio of 49.29, a price-to-earnings-growth ratio of 2.37 and a beta of 0.90. The business has a 50 day moving average of $397.48 and a 200 day moving average of $466.85.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, February 11th. The technology company reported $2.64 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.07). Tyler Technologies had a return on equity of 10.42% and a net margin of 13.53%.The company had revenue of $575.18 million during the quarter, compared to the consensus estimate of $591.09 million. During the same period last year, the firm posted $2.43 earnings per share. The company’s revenue was up 6.3% compared to the same quarter last year. On average, research analysts expect that Tyler Technologies will post 8.52 earnings per share for the current fiscal year.

Insider Transactions at Tyler Technologies

In other news, Director Andrew D. Teed acquired 1,600 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was bought at an average price of $309.91 per share, with a total value of $495,856.00. Following the completion of the acquisition, the director directly owned 5,118 shares of the company’s stock, valued at approximately $1,586,119.38. The trade was a 45.48% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian K. Miller sold 1,000 shares of the company’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $458.65, for a total value of $458,650.00. Following the sale, the chief financial officer owned 16,148 shares of the company’s stock, valued at approximately $7,406,280.20. This trade represents a 5.83% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 2,500 shares of company stock valued at $1,136,525. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Tyler Technologies

Institutional investors have recently made changes to their positions in the business. DLD Asset Management LP bought a new stake in Tyler Technologies during the second quarter valued at approximately $5,780,190,000. Norges Bank purchased a new position in shares of Tyler Technologies during the 4th quarter worth $921,035,000. Van ECK Associates Corp boosted its stake in shares of Tyler Technologies by 43.2% during the 4th quarter. Van ECK Associates Corp now owns 1,217,306 shares of the technology company’s stock worth $552,596,000 after acquiring an additional 367,203 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Tyler Technologies by 72.5% during the 3rd quarter. Wellington Management Group LLP now owns 600,776 shares of the technology company’s stock valued at $314,302,000 after acquiring an additional 252,488 shares during the period. Finally, Impax Asset Management Group plc purchased a new stake in shares of Tyler Technologies in the 4th quarter worth $106,740,000. Institutional investors own 93.30% of the company’s stock.

Tyler Technologies Company Profile

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler’s product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.