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 research note published on Wednesday morning.

A number of other equities analysts have also recently commented on the company. Robert W. Baird lifted their target price on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Needham & Company LLC raised their target price on shares of Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Wells Fargo & Company increased their price objective on shares of Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. The Goldman Sachs Group restated a “buy” rating and set a $627.00 target price on shares of Tyler Technologies in a research report on Friday, September 13th. Finally, DA Davidson increased their price target on Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $642.62.

Tyler Technologies Price Performance

Shares of Tyler Technologies stock opened at $609.09 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies has a 12 month low of $397.80 and a 12 month high of $631.43. The stock has a 50 day moving average of $594.68 and a 200 day moving average of $550.24. The firm has a market cap of $26.07 billion, a PE ratio of 110.57, a PEG ratio of 5.41 and a beta of 0.77.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.09. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The company had revenue of $543.34 million for the quarter, compared to analysts’ expectations of $547.34 million. During the same quarter in the previous year, the business posted $1.66 earnings per share. Tyler Technologies’s quarterly revenue was up 9.8% on a year-over-year basis. On average, research analysts expect that Tyler Technologies will post 7.39 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO H Lynn Moore, Jr. sold 6,250 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $605.82, for a total value of $3,786,375.00. Following the completion of the transaction, the chief executive officer now directly owns 75,000 shares in the company, valued at $45,436,500. The trade was a 7.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Brian K. Miller sold 2,500 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $624.41, for a total transaction of $1,561,025.00. Following the sale, the chief financial officer now owns 11,950 shares in the company, valued at approximately $7,461,699.50. This represents a 17.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,600 shares of company stock valued at $16,412,595. 2.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Tyler Technologies

Hedge funds have recently modified their holdings of the company. Independence Bank of Kentucky acquired a new position in Tyler Technologies in the 2nd quarter worth about $25,000. Ashton Thomas Securities LLC purchased a new position in shares of Tyler Technologies during the 3rd quarter valued at approximately $27,000. Covestor Ltd lifted its position in shares of Tyler Technologies by 153.6% during the 1st quarter. Covestor Ltd now owns 71 shares of the technology company’s stock valued at $30,000 after buying an additional 43 shares in the last quarter. Blue Trust Inc. grew its stake in Tyler Technologies by 329.4% in the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock valued at $37,000 after acquiring an additional 56 shares during the period. Finally, Lynx Investment Advisory purchased a new stake in Tyler Technologies in the 2nd quarter worth $38,000. 93.30% of the stock is owned by hedge funds and other institutional investors.

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.