Tyler Technologies, Inc. (NYSE:TYL) Given Average Rating of “Moderate Buy” by Analysts

Shares of Tyler Technologies, Inc. (NYSE:TYL) have been given an average rating of “Moderate Buy” by the fourteen research firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $642.62.

A number of equities research analysts recently issued reports on TYL shares. BTIG Research raised their price target on Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. JMP Securities lifted their target price on Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research report on Friday, October 25th. Oppenheimer upped their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Piper Sandler lifted their price objective on shares of Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company upped their target price on shares of Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th.

Tyler Technologies Stock Up 0.7 %

Shares of TYL opened at $601.19 on Tuesday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18. The business has a fifty day moving average of $593.78 and a 200 day moving average of $547.67. The company has a market cap of $25.73 billion, a PE ratio of 109.71, a P/E/G ratio of 5.39 and a beta of 0.77. Tyler Technologies has a 52-week low of $397.80 and a 52-week high of $631.43.

Tyler Technologies (NYSE:TYL) last released its earnings results 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 firm had revenue of $543.34 million during the quarter, compared to analyst estimates of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The business’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the business earned $1.66 EPS. On average, sell-side analysts expect that Tyler Technologies will post 7.39 EPS for the current year.

Insiders Place Their Bets

In related news, insider John S. Marr, Jr. sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $578.94, for a total transaction of $2,894,700.00. Following the completion of the sale, the insider now owns 6,983 shares of the company’s stock, valued at $4,042,738.02. This represents a 41.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brian K. Miller sold 2,500 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $624.41, for a total value of $1,561,025.00. Following the completion of the sale, the chief financial officer now directly owns 11,950 shares of the company’s stock, valued at $7,461,699.50. The trade was a 17.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,600 shares of company stock worth $19,307,295 over the last 90 days. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Tyler Technologies

A number of large investors have recently modified their holdings of TYL. Independence Bank of Kentucky acquired a new stake in Tyler Technologies during the 2nd quarter worth about $25,000. Ashton Thomas Securities LLC acquired a new stake in shares of Tyler Technologies during the 3rd quarter worth approximately $27,000. Covestor Ltd increased its holdings in Tyler Technologies by 153.6% in the first 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. raised its holdings in Tyler Technologies by 329.4% in the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after purchasing an additional 56 shares during the period. Finally, Lynx Investment Advisory acquired a new position in shares of Tyler Technologies during the 2nd quarter worth approximately $38,000. Hedge funds and other institutional investors 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.