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

DA Davidson reaffirmed their neutral rating on shares of Tyler Technologies (NYSE:TYL) in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a $575.00 price target on the technology company’s stock.

TYL has been the subject of several other reports. StockNews.com downgraded shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Oppenheimer increased their price objective on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. JMP Securities lifted their target price on Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a research report on Friday, October 25th. Barclays increased their price target on Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, Truist Financial restated a “buy” rating and set a $685.00 price objective (up from $600.00) on shares of Tyler Technologies in a research note on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Tyler Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $645.69.

Tyler Technologies Stock Performance

Shares of TYL stock opened at $598.41 on Thursday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The firm has a fifty day simple moving average of $598.62 and a two-hundred day simple moving average of $588.29. Tyler Technologies has a 12 month low of $397.80 and a 12 month high of $638.56. The firm has a market capitalization of $25.61 billion, a PE ratio of 109.20, a price-to-earnings-growth ratio of 4.72 and a beta of 0.78.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $633.55, for a total value of $3,801,300.00. Following the sale, the insider now directly owns 6,983 shares in the company, valued at $4,424,079.65. The trade was a 46.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brian K. Miller sold 3,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $602.72, for a total value of $1,808,160.00. Following the transaction, the chief financial officer now owns 11,950 shares of the company’s stock, valued at $7,202,504. The trade was a 20.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,252 shares of company stock worth $26,096,928 over the last three months. 2.20% of the stock is currently owned by insiders.

Institutional Trading of Tyler Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the business. Van ECK Associates Corp grew its stake in Tyler Technologies by 1,991.8% in the 4th quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock valued at $317,486,000 after buying an additional 524,259 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Tyler Technologies by 252,047.5% in the third quarter. International Assets Investment Management LLC now owns 307,620 shares of the technology company’s stock worth $179,564,000 after acquiring an additional 307,498 shares during the period. JPMorgan Chase & Co. grew its position in shares of Tyler Technologies by 148.2% in the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock valued at $269,369,000 after purchasing an additional 275,511 shares in the last quarter. Seilern Investment Management Ltd bought a new stake in shares of Tyler Technologies during the 4th quarter valued at $105,549,000. Finally, FMR LLC lifted its holdings in Tyler Technologies by 94.1% during the 3rd quarter. FMR LLC now owns 109,319 shares of the technology company’s stock worth $63,812,000 after purchasing an additional 52,984 shares in the last quarter. Institutional investors own 93.30% of the company’s stock.

Tyler Technologies Company Profile

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.