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

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

Other equities research analysts also recently issued research reports about the company. DA Davidson reissued a “neutral” rating and set a $575.00 price target on shares of Tyler Technologies in a research report on Thursday, January 30th. Piper Sandler boosted their target price on Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Truist Financial reissued a “buy” rating and set a $775.00 target price (up previously from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Barclays lifted their price target on shares of Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Finally, The Goldman Sachs Group increased their price objective on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Tyler Technologies has a consensus rating of “Moderate Buy” and an average price target of $676.25.

Tyler Technologies Trading Down 2.2 %

Shares of TYL stock opened at $569.12 on Thursday. The firm’s 50-day simple moving average is $599.42 and its 200-day simple moving average is $597.41. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21. Tyler Technologies has a 1-year low of $397.80 and a 1-year high of $661.31. The firm has a market cap of $24.53 billion, a P/E ratio of 93.91, a PEG ratio of 4.93 and a beta of 0.80.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share 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, equities analysts forecast that Tyler Technologies will post 8.52 EPS for the current year.

Insiders Place Their Bets

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the sale, the insider now directly owns 6,983 shares in the company, valued at $4,322,477. The trade was a 46.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total value of $4,022,981.26. Following the transaction, the chief executive officer now owns 75,734 shares of the company’s stock, valued at approximately $46,772,561.06. This trade represents a 7.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,064 shares of company stock worth $8,688,030 in the last quarter. 2.20% of the stock is owned by corporate insiders.

Institutional Trading of Tyler Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in TYL. Larson Financial Group LLC grew its holdings in Tyler Technologies by 221.4% during the 4th quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock worth $26,000 after acquiring an additional 31 shares in the last quarter. Sierra Ocean LLC bought a new position in shares of Tyler Technologies during the fourth quarter worth about $32,000. Brown Brothers Harriman & Co. grew its stake in Tyler Technologies by 300.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock worth $32,000 after purchasing an additional 42 shares in the last quarter. Kapitalo Investimentos Ltda bought a new stake in Tyler Technologies in the fourth quarter valued at about $40,000. Finally, OFI Invest Asset Management acquired a new stake in Tyler Technologies during the fourth quarter valued at approximately $41,000. 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.