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

Tyler Technologies (NYSE:TYL) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.

A number of other research firms have also recently commented on TYL. Needham & Company LLC upped their price target 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. DA Davidson boosted their price objective on shares of Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Barclays raised their target price on shares of Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Truist Financial reiterated a “buy” rating and issued a $685.00 price target (up previously from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Finally, Oppenheimer increased their price objective on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $642.62.

Tyler Technologies Price Performance

Tyler Technologies stock opened at $630.27 on Friday. Tyler Technologies has a 12-month low of $397.80 and a 12-month high of $638.56. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average price of $603.88 and a 200-day moving average price of $560.21. The firm has a market capitalization of $26.98 billion, a PE ratio of 115.01, a price-to-earnings-growth ratio of 5.64 and a beta of 0.76.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.09. The business had revenue of $543.34 million during the quarter, compared to the consensus estimate of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.66 earnings per share. As a group, equities research analysts forecast that Tyler Technologies will post 7.36 EPS for the current year.

Insider Buying and Selling at Tyler Technologies

In other news, CEO H Lynn Moore, Jr. sold 3,250 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $631.41, for a total value of $2,052,082.50. Following the completion of the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at $47,355,750. This trade represents a 4.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian K. Miller sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $602.72, for a total value of $1,808,160.00. Following the completion of the sale, the chief financial officer now directly owns 11,950 shares of the company’s stock, valued at approximately $7,202,504. This represents a 20.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,000 shares of company stock worth $22,409,563 over the last quarter. Insiders own 2.20% of the company’s stock.

Institutional Trading of Tyler Technologies

Large investors have recently added to or reduced their stakes in the company. APG Asset Management N.V. lifted its holdings in shares of Tyler Technologies by 1.4% during the second quarter. APG Asset Management N.V. now owns 1,507,062 shares of the technology company’s stock worth $706,994,000 after purchasing an additional 20,842 shares during the period. Geode Capital Management LLC raised its position in Tyler Technologies by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,108,908 shares of the technology company’s stock worth $645,585,000 after buying an additional 24,284 shares during the last quarter. Franklin Resources Inc. lifted its stake in Tyler Technologies by 2.0% during the 3rd quarter. Franklin Resources Inc. now owns 912,746 shares of the technology company’s stock valued at $547,354,000 after acquiring an additional 17,943 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Tyler Technologies by 4.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 904,175 shares of the technology company’s stock valued at $527,785,000 after acquiring an additional 36,066 shares during the last quarter. Finally, Swedbank AB purchased a new stake in shares of Tyler Technologies in the 2nd quarter valued at $251,390,000. 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.