Tyler Technologies (NYSE:TYL) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Tyler Technologies (NYSE:TYL) from a hold rating to a buy rating in a research report released on Thursday.

A number of other analysts have also issued reports on the company. Truist Financial reaffirmed a “buy” rating and set a $685.00 target price (up from $600.00) on shares of Tyler Technologies in a research report on Friday, October 25th. DA Davidson lifted their target price on Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Needham & Company LLC lifted their price target on Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Piper Sandler lifted their price target on Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, Oppenheimer lifted their price target on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $642.62.

Tyler Technologies Trading Down 0.7 %

NYSE:TYL opened at $630.44 on Thursday. The business’s 50-day moving average is $598.13 and its two-hundred day moving average is $554.74. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. Tyler Technologies has a 12 month low of $397.80 and a 12 month high of $637.53. The firm has a market capitalization of $26.98 billion, a PE ratio of 115.04, a price-to-earnings-growth ratio of 5.65 and a beta of 0.77.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The business had revenue of $543.34 million for the quarter, compared to analyst estimates of $547.34 million. During the same period in the previous year, the company earned $1.66 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. Research analysts predict that Tyler Technologies will post 7.36 earnings per share for the current fiscal year.

Insider Activity

In other news, insider John S. Marr, Jr. sold 12,000 shares of Tyler Technologies stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the sale, the insider now owns 6,983 shares of the company’s stock, valued at approximately $4,285,187.78. The trade was a 63.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $605.82, for a total value of $3,786,375.00. Following the sale, the chief executive officer now directly owns 75,000 shares in the company, valued at approximately $45,436,500. The trade was a 7.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,100 shares of company stock valued at $22,309,090. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Independence Bank of Kentucky purchased a new position in Tyler Technologies during the 2nd quarter worth approximately $25,000. Ashton Thomas Securities LLC acquired a new position in shares of Tyler Technologies in the third quarter worth $27,000. Blue Trust Inc. increased its stake in shares of Tyler Technologies by 329.4% in the second quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after acquiring an additional 56 shares during the last quarter. Lynx Investment Advisory acquired a new position in shares of Tyler Technologies in the second quarter worth $38,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Tyler Technologies in the second quarter worth $61,000. 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.