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

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

A number of other research firms have also recently weighed in on TYL. Evercore reaffirmed a “positive” rating on shares of Tyler Technologies in a research report on Friday, October 31st. Cantor Fitzgerald restated a “neutral” rating and set a $325.00 target price on shares of Tyler Technologies in a research note on Friday. Stifel Nicolaus dropped their price target on shares of Tyler Technologies from $550.00 to $400.00 and set a “buy” rating for the company in a research report on Friday, February 13th. BTIG Research decreased their price objective on shares of Tyler Technologies from $560.00 to $470.00 and set a “buy” rating on the stock in a research report on Monday, February 9th. Finally, Robert W. Baird set a $440.00 target price on shares of Tyler Technologies in a research note on Friday. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $467.54.

Tyler Technologies Stock Performance

TYL stock opened at $312.32 on Tuesday. The company has a market cap of $13.44 billion, a price-to-earnings ratio of 43.38, a P/E/G ratio of 2.00 and a beta of 0.91. The business’s 50-day moving average is $417.26 and its two-hundred day moving average is $481.69. Tyler Technologies has a fifty-two week low of $283.71 and a fifty-two week high of $647.11.

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

Insiders Place Their Bets

In other Tyler Technologies news, CFO Brian K. Miller sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $469.08, for a total transaction of $469,080.00. Following the completion of the transaction, the chief financial officer owned 12,781 shares in the company, valued at $5,995,311.48. This trade represents a 7.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Glenn A. Carter sold 500 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $458.73, for a total value of $229,365.00. Following the sale, the director directly owned 3,172 shares in the company, valued at $1,455,091.56. This trade represents a 13.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 3,500 shares of company stock valued at $1,605,605. 1.10% of the stock is owned by company insiders.

Institutional Trading of Tyler Technologies

A number of large investors have recently made changes to their positions in the business. Root Financial Partners LLC purchased a new position in shares of Tyler Technologies in the 3rd quarter worth approximately $28,000. Twin Peaks Wealth Advisors LLC bought a new stake in Tyler Technologies in the second quarter worth $32,000. DV Equities LLC purchased a new position in Tyler Technologies during the fourth quarter worth $27,000. Salomon & Ludwin LLC increased 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 acquiring an additional 61 shares during the last quarter. Finally, Elyxium Wealth LLC purchased a new stake in shares of Tyler Technologies in the fourth quarter valued at $29,000. 93.30% of the stock is currently owned by institutional investors.

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.