Tyler Technologies (NYSE:TYL) Reaches New 1-Year High – Time to Buy?

Tyler Technologies, Inc. (NYSE:TYL) reached a new 52-week high on Thursday . The stock traded as high as $660.55 and last traded at $647.37, with a volume of 101223 shares trading hands. The stock had previously closed at $610.27.

Analysts Set New Price Targets

TYL has been the subject of several research analyst reports. Robert W. Baird raised their price target on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. StockNews.com lowered Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $615.00 price objective (down from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. Piper Sandler raised their price target on Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, Barclays raised their price target on Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $645.69.

Tyler Technologies Price Performance

The stock has a fifty day moving average price of $595.47 and a 200-day moving average price of $593.32. The firm has a market capitalization of $27.83 billion, a PE ratio of 118.77, a P/E/G ratio of 4.78 and a beta of 0.78. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. Sell-side analysts forecast that Tyler Technologies, Inc. will post 7.36 EPS for the current fiscal year.

Insider Activity

In related news, CEO H Lynn Moore, Jr. sold 3,250 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $631.41, for a total transaction of $2,052,082.50. Following the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at $47,355,750. The trade was a 4.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John S. Marr, Jr. sold 12,000 shares of the business’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 transaction, the insider now owns 6,983 shares in the company, valued at approximately $4,285,187.78. This trade represents a 63.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,502 shares of company stock worth $18,941,368. 2.20% of the stock is currently owned by company insiders.

Institutional Trading of Tyler Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oak Thistle LLC lifted its holdings in shares of Tyler Technologies by 213.7% in the 4th quarter. Oak Thistle LLC now owns 2,328 shares of the technology company’s stock valued at $1,342,000 after buying an additional 1,586 shares during the period. Aigen Investment Management LP acquired a new position in Tyler Technologies in the 3rd quarter worth about $1,309,000. Maiden Cove Capital LLC acquired a new position in Tyler Technologies in the 3rd quarter worth about $583,000. Assetmark Inc. raised its holdings in Tyler Technologies by 9.4% in the 3rd quarter. Assetmark Inc. now owns 9,910 shares of the technology company’s stock worth $5,785,000 after purchasing an additional 854 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Tyler Technologies in the 3rd quarter worth about $569,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

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.