Tyler Technologies (NYSE:TYL) Receives Buy Rating from DA Davidson

DA Davidson restated their buy rating on shares of Tyler Technologies (NYSE:TYL) in a research note released on Tuesday,Benzinga reports. They currently have a $460.00 target price on the technology company’s stock.

Other equities research analysts have also recently issued reports about the stock. BTIG Research dropped their price target on shares of Tyler Technologies from $470.00 to $420.00 and set a “buy” rating on the stock in a research report on Friday, April 10th. TD Cowen reduced their target price on Tyler Technologies from $600.00 to $500.00 and set a “buy” rating for the company in a report on Friday, February 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $750.00 target price on shares of Tyler Technologies in a report on Tuesday, February 3rd. Wells Fargo & Company reduced their target price on Tyler Technologies from $420.00 to $335.00 and set an “equal weight” rating for the company in a report on Friday, February 13th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $543.00 target price (down from $671.00) on shares of Tyler Technologies in a report on Friday, February 13th. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $463.69.

Tyler Technologies Trading Up 0.5%

Shares of Tyler Technologies stock opened at $322.32 on Tuesday. The company’s 50-day moving average price is $338.97 and its two-hundred day moving average price is $420.28. Tyler Technologies has a 52 week low of $283.71 and a 52 week high of $621.34. The stock has a market cap of $13.68 billion, a PE ratio of 44.77, a price-to-earnings-growth ratio of 2.16 and a beta of 0.92.

Tyler Technologies (NYSE:TYL) last issued its quarterly 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 business had revenue of $575.18 million during the quarter, compared to the consensus estimate of $591.09 million. During the same quarter last year, the firm posted $2.43 earnings per share. Tyler Technologies’s revenue was up 6.3% compared to the same quarter last year. On average, equities analysts predict that Tyler Technologies will post 8.52 EPS for the current fiscal year.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, insider Abigail Marshall Diaz-Pedrosa purchased 610 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The shares were purchased at an average cost of $325.08 per share, with a total value of $198,298.80. Following the completion of the transaction, the insider owned 1,123 shares of the company’s stock, valued at approximately $365,064.84. This represents a 118.91% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Glenn A. Carter sold 1,624 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $349.14, for a total value of $567,003.36. Following the transaction, the director directly owned 5,298 shares in the company, valued at $1,849,743.72. The trade was a 23.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 7,298 shares of company stock valued at $2,658,721 over the last 90 days. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Root Financial Partners LLC acquired a new position in Tyler Technologies during the third quarter valued at $28,000. DV Equities LLC acquired a new position in Tyler Technologies during the fourth quarter valued at $27,000. Salomon & Ludwin LLC raised its position in Tyler Technologies by 6,100.0% during the fourth quarter. Salomon & Ludwin LLC now owns 62 shares of the technology company’s stock valued at $27,000 after buying an additional 61 shares during the period. Elyxium Wealth LLC acquired a new position in Tyler Technologies during the fourth quarter valued at $29,000. Finally, Advisors Asset Management Inc. acquired a new position in Tyler Technologies during the first quarter valued at $38,000. 93.30% of the stock is owned by institutional investors and hedge funds.

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.