Tyler Technologies (NYSE:TYL) Reaches New 12-Month High – Here’s Why

Tyler Technologies, Inc. (NYSE:TYL)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $635.40 and last traded at $635.19, with a volume of 246743 shares traded. The stock had previously closed at $624.19.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TYL shares. Oppenheimer upped their price objective on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. DA Davidson raised their target price on Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Robert W. Baird boosted their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Piper Sandler raised their price objective on shares of Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Truist Financial restated a “buy” rating and set a $685.00 price target (up previously from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Tyler Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $642.62.

Tyler Technologies Trading Down 0.7 %

The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18. The stock has a market cap of $26.98 billion, a price-to-earnings ratio of 115.04, a PEG ratio of 5.65 and a beta of 0.77. The company’s fifty day moving average is $598.13 and its two-hundred day moving average is $554.74.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. The company had revenue of $543.34 million for the quarter, compared to analysts’ expectations of $547.34 million. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. Tyler Technologies’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $1.66 earnings per share. On average, research analysts predict that Tyler Technologies, Inc. will post 7.36 EPS for the current fiscal year.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $576.62, for a total transaction of $2,883,100.00. Following the completion of the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at approximately $43,246,500. This trade represents a 6.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John S. Marr, Jr. sold 12,000 shares of Tyler Technologies stock in a transaction dated 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 37,100 shares of company stock valued at $22,309,090 in the last ninety days. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TYL. Tidal Investments LLC increased its position in Tyler Technologies by 64.8% during the first quarter. Tidal Investments LLC now owns 2,953 shares of the technology company’s stock worth $1,253,000 after buying an additional 1,161 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Tyler Technologies by 18.3% in the second quarter. SG Americas Securities LLC now owns 8,117 shares of the technology company’s stock valued at $4,081,000 after buying an additional 1,255 shares during the last quarter. Aigen Investment Management LP acquired a new stake in Tyler Technologies during the third quarter worth approximately $1,309,000. Vaughan Nelson Investment Management L.P. grew its stake in Tyler Technologies by 21.5% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 123,253 shares of the technology company’s stock worth $61,969,000 after acquiring an additional 21,818 shares during the period. Finally, Swedbank AB acquired a new position in Tyler Technologies in the 2nd quarter valued at $251,390,000. 93.30% of the stock is owned by hedge funds and other 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.