Tyler Technologies (NYSE:TYL) Stock Rating Upgraded by StockNews.com

Tyler Technologies (NYSE:TYL) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

Other equities analysts have also recently issued research reports about the company. DA Davidson restated a “neutral” rating and issued a $575.00 price target on shares of Tyler Technologies in a research report on Thursday, January 30th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $615.00 price target (down from $670.00) on shares of Tyler Technologies in a report on Tuesday, January 7th. Piper Sandler boosted their price objective on shares of Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Truist Financial restated a “buy” rating and issued a $775.00 target price (up previously from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. Finally, Barclays boosted their price target on shares of Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Tyler Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $676.25.

Tyler Technologies Stock Down 5.3 %

Tyler Technologies stock opened at $539.40 on Thursday. The company has a market capitalization of $23.25 billion, a P/E ratio of 89.01, a PEG ratio of 4.93 and a beta of 0.80. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. Tyler Technologies has a fifty-two week low of $397.80 and a fifty-two week high of $661.31. The stock has a 50-day simple moving average of $598.37 and a 200-day simple moving average of $597.09.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. Equities research analysts expect that Tyler Technologies will post 8.52 earnings per share for the current year.

Insider Buying and Selling at Tyler Technologies

In related news, CEO H Lynn Moore, Jr. sold 6,514 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the completion of the transaction, the chief executive officer now directly owns 75,734 shares in the company, valued at $46,772,561.06. The trade was a 7.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John S. Marr, Jr. sold 6,000 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $619.00, for a total value of $3,714,000.00. Following the sale, the insider now owns 6,983 shares in the company, valued at approximately $4,322,477. This trade represents a 46.21 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,064 shares of company stock valued at $8,688,030. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Tyler Technologies

A number of institutional investors have recently made changes to their positions in TYL. Larson Financial Group LLC raised its stake in Tyler Technologies by 221.4% in the 4th quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock valued at $26,000 after purchasing an additional 31 shares during the last quarter. Sierra Ocean LLC acquired a new position in shares of Tyler Technologies in the fourth quarter valued at approximately $32,000. Brown Brothers Harriman & Co. lifted its stake in shares of Tyler Technologies by 300.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock valued at $32,000 after buying an additional 42 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in Tyler Technologies during the fourth quarter worth approximately $40,000. Finally, OFI Invest Asset Management purchased a new stake in Tyler Technologies in the 4th quarter worth approximately $41,000. 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.