Tyler Technologies (NYSE:TYL) Stock Rating Lowered by StockNews.com

Tyler Technologies (NYSE:TYL) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Monday.

A number of other brokerages also recently issued reports on TYL. The Goldman Sachs Group boosted their price objective on shares of Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Wells Fargo & Company reissued an “equal weight” rating and set a $615.00 price target (down previously from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 price objective on shares of Tyler Technologies in a research note on Tuesday, January 21st. Barclays lifted their price objective on Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Finally, Truist Financial reissued a “buy” rating and issued a $775.00 target price (up from $685.00) on shares of Tyler Technologies in a report on Friday, February 14th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $676.25.

Tyler Technologies Stock Performance

NYSE:TYL traded down $3.02 on Monday, hitting $612.20. The stock had a trading volume of 244,683 shares, compared to its average volume of 246,528. The business’s 50-day simple moving average is $597.49 and its two-hundred day simple moving average is $596.93. The stock has a market cap of $26.33 billion, a price-to-earnings ratio of 101.02, a price-to-earnings-growth ratio of 4.93 and a beta of 0.78. Tyler Technologies has a 52-week low of $397.80 and a 52-week high of $661.31. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. As a group, research analysts predict that Tyler Technologies will post 8.52 earnings per share for the current year.

Insider Activity at Tyler Technologies

In related news, CEO H Lynn Moore, Jr. sold 3,250 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $631.41, for a total transaction of $2,052,082.50. Following the completion of the transaction, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at approximately $47,355,750. This represents a 4.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John S. Marr, Jr. sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $633.55, for a total value of $3,801,300.00. Following the transaction, the insider now owns 6,983 shares of the company’s stock, valued at $4,424,079.65. This represents a 46.21 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,502 shares of company stock valued at $11,577,448. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC raised its stake in Tyler Technologies by 2.3% during the fourth quarter. Integrated Wealth Concepts LLC now owns 786 shares of the technology company’s stock valued at $453,000 after purchasing an additional 18 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Tyler Technologies by 0.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,668 shares of the technology company’s stock worth $2,115,000 after buying an additional 20 shares during the last quarter. Kensington Investment Counsel LLC raised its position in shares of Tyler Technologies by 0.8% during the 4th quarter. Kensington Investment Counsel LLC now owns 2,496 shares of the technology company’s stock valued at $1,439,000 after buying an additional 20 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Tyler Technologies by 18.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the technology company’s stock valued at $78,000 after acquiring an additional 21 shares during the last quarter. Finally, Baron Wealth Management LLC grew its position in Tyler Technologies by 1.5% in the fourth quarter. Baron Wealth Management LLC now owns 1,487 shares of the technology company’s stock worth $857,000 after acquiring an additional 22 shares in the last quarter. 93.30% of the stock is currently owned by institutional investors.

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.