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

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

TYL has been the subject of a number of other reports. DA Davidson lifted their price objective on shares of Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Oppenheimer boosted 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. Barclays upped their price objective on Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Truist Financial reissued a “buy” rating and set a $685.00 target price (up previously from $600.00) on shares of Tyler Technologies in a research report on Friday, October 25th. Finally, Needham & Company LLC raised their price target on Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $642.62.

Tyler Technologies Price Performance

NYSE:TYL opened at $629.17 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 company has a market capitalization of $26.93 billion, a P/E ratio of 114.81, a P/E/G ratio of 5.70 and a beta of 0.77. Tyler Technologies has a 12 month low of $397.80 and a 12 month high of $637.53. The business’s 50-day moving average is $600.16 and its 200 day moving average is $557.28.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $547.34 million. During the same period in the prior year, the firm earned $1.66 EPS. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities research analysts forecast that Tyler Technologies will post 7.36 earnings per share for the current fiscal year.

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 2,500 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $624.41, for a total transaction of $1,561,025.00. Following the transaction, the chief financial officer now directly owns 11,950 shares in the company, valued at $7,461,699.50. This trade represents a 17.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John S. Marr, Jr. sold 12,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $613.66, for a total value of $7,363,920.00. Following the completion of the sale, the insider now owns 6,983 shares of the company’s stock, valued at $4,285,187.78. This represents a 63.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,100 shares of company stock worth $22,309,090. 2.20% of the stock is currently owned by insiders.

Institutional Trading of Tyler Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the company. Independence Bank of Kentucky bought a new position in Tyler Technologies during the 2nd quarter worth about $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of Tyler Technologies in the 3rd quarter worth approximately $27,000. Blue Trust Inc. boosted its stake in shares of Tyler Technologies by 329.4% during the second 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. Lynx Investment Advisory purchased a new position in Tyler Technologies during the second quarter valued at approximately $38,000. Finally, International Assets Investment Management LLC bought a new position in Tyler Technologies in the second quarter worth approximately $61,000. 93.30% of the stock is currently owned by institutional investors.

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.