Tyler Technologies (NYSE:TYL) Cut to Hold at StockNews.com

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

TYL has been the topic of several other reports. Needham & Company LLC raised their target price on Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Piper Sandler lifted their price objective on Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. The Goldman Sachs Group reiterated a “buy” rating and issued a $627.00 target price on shares of Tyler Technologies in a research report on Friday, September 13th. Truist Financial reissued a “buy” rating and set a $685.00 price objective (up previously from $600.00) on shares of Tyler Technologies in a research note on Friday, October 25th. Finally, DA Davidson raised their price target on shares of Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Tyler Technologies presently has an average rating of “Moderate Buy” and an average price target of $642.62.

Tyler Technologies Stock Down 1.2 %

Tyler Technologies stock opened at $623.15 on Friday. Tyler Technologies has a 1-year low of $397.80 and a 1-year high of $638.56. The stock has a market capitalization of $26.67 billion, a price-to-earnings ratio of 113.71, a PEG ratio of 5.76 and a beta of 0.76. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. The business has a fifty day moving average price of $604.80 and a 200-day moving average price of $562.01.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data 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. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The firm 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 business’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities research analysts forecast that Tyler Technologies will post 7.36 EPS for the current fiscal year.

Insider Buying and Selling at Tyler Technologies

In related news, CFO Brian K. Miller sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $602.72, for a total transaction of $1,808,160.00. Following the completion of the sale, the chief financial officer now owns 11,950 shares in the company, valued at $7,202,504. The trade was a 20.07 % decrease in their ownership of the stock. 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 5,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $590.98, for a total transaction of $2,954,900.00. Following the completion of the transaction, the chief executive officer now owns 75,000 shares in the company, valued at $44,323,500. This represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,500 shares of company stock valued at $27,790,888 in the last 90 days. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Tyler Technologies

Large investors have recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in shares of Tyler Technologies in the third quarter valued at approximately $27,000. Independence Bank of Kentucky acquired a new position in Tyler Technologies in the 2nd quarter valued at $25,000. Blue Trust Inc. raised its position in Tyler Technologies by 329.4% during the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after buying an additional 56 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Tyler Technologies in the 2nd quarter worth $61,000. Finally, Quarry LP purchased a new stake in shares of Tyler Technologies in the third quarter valued at about $78,000. 93.30% of the stock is owned by institutional investors and hedge funds.

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.