DA Davidson Reiterates “Neutral” Rating for Tyler Technologies (NYSE:TYL)

Tyler Technologies (NYSE:TYL)‘s stock had its “neutral” rating restated by equities researchers at DA Davidson in a note issued to investors on Thursday,Benzinga reports. They currently have a $575.00 price objective on the technology company’s stock. DA Davidson’s target price would indicate a potential downside of 4.49% from the stock’s previous close.

Several other research analysts have also commented on the company. Wells Fargo & Company reissued an “equal weight” rating and issued a $615.00 price target (down from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. StockNews.com downgraded shares of Tyler Technologies from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Truist Financial restated a “buy” rating and issued a $685.00 price target (up from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Barclays boosted their price objective on shares of Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, JMP Securities raised their target price on shares of Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a research note on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $645.69.

Tyler Technologies Stock Up 0.5 %

Shares of Tyler Technologies stock opened at $602.04 on Thursday. Tyler Technologies has a 1 year low of $397.80 and a 1 year high of $638.56. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. The stock has a market cap of $25.77 billion, a price-to-earnings ratio of 109.86, a PEG ratio of 4.72 and a beta of 0.78. The firm’s 50-day moving average is $598.48 and its two-hundred day moving average is $588.85.

Insider Buying and Selling at Tyler Technologies

In related news, insider John S. Marr, Jr. sold 12,000 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the completion of the transaction, the insider now owns 6,983 shares of the company’s stock, valued at $4,285,187.78. This trade represents a 63.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $3,786,375.00. Following the transaction, the chief executive officer now owns 75,000 shares of the company’s stock, valued at $45,436,500. This represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,252 shares of company stock worth $26,096,928. 2.20% of the stock is currently owned by insiders.

Institutional Trading of Tyler Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp boosted its position in Tyler Technologies by 1,991.8% in the 4th quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock worth $317,486,000 after purchasing an additional 524,259 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Tyler Technologies by 252,047.5% during the third quarter. International Assets Investment Management LLC now owns 307,620 shares of the technology company’s stock worth $179,564,000 after buying an additional 307,498 shares in the last quarter. JPMorgan Chase & Co. grew its position in Tyler Technologies by 148.2% during the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock valued at $269,369,000 after buying an additional 275,511 shares during the period. Seilern Investment Management Ltd purchased a new position in Tyler Technologies in the fourth quarter valued at $105,549,000. Finally, FMR LLC increased its holdings in Tyler Technologies by 94.1% in the third quarter. FMR LLC now owns 109,319 shares of the technology company’s stock valued at $63,812,000 after buying an additional 52,984 shares in the last quarter. 93.30% of the stock is owned by institutional investors and hedge funds.

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.