Tyler Technologies (NYSE:TYL) Upgraded to “Buy” at StockNews.com

Tyler Technologies (NYSE:TYL) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

Several other brokerages have also commented on TYL. DA Davidson increased their price objective on Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Robert W. Baird increased their price objective on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research report on Friday. Evercore ISI upgraded Tyler Technologies to a “hold” rating in a research report on Friday, July 26th. 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. Finally, JMP Securities raised their price target on Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $642.62.

Tyler Technologies Price Performance

Shares of Tyler Technologies stock traded down $5.81 during trading on Friday, hitting $605.86. 238,147 shares of the stock traded hands, compared to its average volume of 228,208. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.19. The stock has a market cap of $25.85 billion, a price-to-earnings ratio of 125.18, a PEG ratio of 5.42 and a beta of 0.78. The firm’s fifty day moving average is $584.88 and its 200-day moving average is $526.68. Tyler Technologies has a 52 week low of $361.16 and a 52 week high of $631.43.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.43 by $0.09. The firm had revenue of $543.34 million for the quarter, compared to analyst estimates of $547.34 million. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The company’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.66 EPS. Research analysts expect that Tyler Technologies will post 7.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,250 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $576.49, for a total value of $3,603,062.50. Following the completion of the sale, the chief executive officer now owns 75,000 shares in the company, valued at approximately $43,236,750. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO H Lynn Moore, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $590.98, for a total value 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 6,250 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $576.49, for a total value of $3,603,062.50. Following the completion of the transaction, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $43,236,750. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,375 shares of company stock worth $17,049,739. 2.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Waldron Private Wealth LLC raised its stake in Tyler Technologies by 3.5% during the second quarter. Waldron Private Wealth LLC now owns 716 shares of the technology company’s stock valued at $360,000 after buying an additional 24 shares during the last quarter. Industrial Alliance Investment Management Inc. raised its stake in Tyler Technologies by 4.4% during the first quarter. Industrial Alliance Investment Management Inc. now owns 693 shares of the technology company’s stock valued at $295,000 after buying an additional 29 shares during the last quarter. George Kaiser Family Foundation raised its stake in Tyler Technologies by 0.7% during the second quarter. George Kaiser Family Foundation now owns 4,177 shares of the technology company’s stock valued at $2,100,000 after buying an additional 29 shares during the last quarter. UMB Bank n.a. raised its stake in Tyler Technologies by 2.4% during the third quarter. UMB Bank n.a. now owns 1,354 shares of the technology company’s stock valued at $790,000 after buying an additional 32 shares during the last quarter. Finally, Torray Investment Partners LLC raised its stake in Tyler Technologies by 0.3% during the second quarter. Torray Investment Partners LLC now owns 11,010 shares of the technology company’s stock valued at $5,536,000 after buying an additional 33 shares during the last quarter. Hedge funds and other 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.