Tyler Technologies (NYSE:TYL) Upgraded by Evercore ISI to “Hold”

Evercore ISI upgraded shares of Tyler Technologies (NYSE:TYL) to a hold rating in a research note released on Friday, Zacks.com reports.

Other analysts have also recently issued reports about the company. JMP Securities raised their target price on Tyler Technologies from $490.00 to $580.00 and gave the stock a market outperform rating in a research note on Monday, July 22nd. BTIG Research lifted their price objective on Tyler Technologies from $550.00 to $630.00 and gave the stock a buy rating in a research report on Friday. DA Davidson boosted their target price on Tyler Technologies from $456.00 to $525.00 and gave the company a neutral rating in a research note on Friday. Piper Sandler raised their price target on Tyler Technologies from $529.00 to $625.00 and gave the stock an overweight rating in a research note on Friday. Finally, Needham & Company LLC reiterated a buy rating and issued a $600.00 price target on shares of Tyler Technologies in a report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Tyler Technologies has an average rating of Moderate Buy and an average target price of $582.31.

Tyler Technologies Stock Performance

Shares of TYL stock opened at $576.99 on Friday. The company has a market capitalization of $24.50 billion, a P/E ratio of 130.54, a PEG ratio of 6.06 and a beta of 0.76. Tyler Technologies has a fifty-two week low of $361.16 and a fifty-two week high of $593.50. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 1.06. The stock has a 50 day moving average price of $501.04 and a two-hundred day moving average price of $458.42.

Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, July 24th. The technology company reported $2.40 EPS for the quarter, topping the consensus estimate of $2.34 by $0.06. The company had revenue of $540.98 million for the quarter, compared to the consensus estimate of $541.01 million. Tyler Technologies had a net margin of 10.24% and a return on equity of 9.66%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.53 earnings per share. Analysts expect that Tyler Technologies will post 6.5 earnings per share for the current year.

Insider Activity

In related news, CFO Brian K. Miller sold 2,671 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $465.03, for a total value of $1,242,095.13. Following the completion of the transaction, the chief financial officer now directly owns 13,536 shares in the company, valued at approximately $6,294,646.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Brian K. Miller sold 2,671 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $465.03, for a total transaction of $1,242,095.13. Following the sale, the chief financial officer now owns 13,536 shares of the company’s stock, valued at $6,294,646.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian K. Miller sold 800 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $479.28, for a total transaction of $383,424.00. Following the transaction, the chief financial officer now directly owns 12,736 shares of the company’s stock, valued at approximately $6,104,110.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,241 shares of company stock worth $10,201,740. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Independence Bank of Kentucky purchased a new stake in shares of Tyler Technologies in the second quarter worth $25,000. Kapitalo Investimentos Ltda bought a new position in Tyler Technologies in the 4th quarter worth about $26,000. Covestor Ltd boosted its stake in Tyler Technologies by 153.6% in the 1st quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after purchasing an additional 43 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Tyler Technologies during the 4th quarter valued at about $31,000. Finally, Blue Trust Inc. increased its stake in Tyler Technologies by 329.4% during the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock valued at $37,000 after purchasing an additional 56 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.