Tyler Technologies (NYSE:TYL) Rating Lowered to “Hold” at StockNews.com

StockNews.com lowered shares of Tyler Technologies (NYSE:TYL) from a buy rating to a hold rating in a report published on Friday morning.

TYL has been the subject of a number of other research reports. Barclays raised their price target on Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Piper Sandler lifted their target price on shares of Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. DA Davidson increased their price target 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. Truist Financial reissued a “buy” rating and set a $685.00 price objective (up from $600.00) on shares of Tyler Technologies in a research note on Friday, October 25th. Finally, JMP Securities upped their target price on Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a research note on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $642.62.

Tyler Technologies Stock Down 1.2 %

TYL stock opened at $623.15 on Friday. 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 company’s 50-day moving average price is $604.80 and its 200 day moving average price is $562.01. Tyler Technologies has a 52 week low of $397.80 and a 52 week high of $638.56. The company has a market cap of $26.67 billion, a P/E ratio of 113.71, a P/E/G ratio of 5.76 and a beta of 0.76.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The business had revenue of $543.34 million for the quarter, compared to analyst estimates of $547.34 million. During the same quarter in the previous year, the company earned $1.66 EPS. The company’s quarterly revenue was up 9.8% on a year-over-year basis. On average, research analysts expect that Tyler Technologies will post 7.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider John S. Marr, Jr. sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $613.66, for a total value of $7,363,920.00. Following the completion of the sale, the insider now directly owns 6,983 shares in the company, valued at approximately $4,285,187.78. The trade was a 63.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $590.98, for a total transaction of $2,954,900.00. Following the transaction, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at $44,323,500. This trade represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,500 shares of company stock valued at $27,790,888 in the last quarter. 2.20% of the stock is currently owned by company insiders.

Institutional Trading of Tyler Technologies

Institutional investors have recently made changes to their positions in the stock. QRG Capital Management Inc. grew its holdings in shares of Tyler Technologies by 17.9% during the 2nd quarter. QRG Capital Management Inc. now owns 776 shares of the technology company’s stock worth $390,000 after purchasing an additional 118 shares during the period. SG Americas Securities LLC increased its position in shares of Tyler Technologies by 18.3% in the second quarter. SG Americas Securities LLC now owns 8,117 shares of the technology company’s stock worth $4,081,000 after acquiring an additional 1,255 shares in the last quarter. Czech National Bank raised its stake in shares of Tyler Technologies by 9.2% in the 2nd quarter. Czech National Bank now owns 8,090 shares of the technology company’s stock valued at $4,067,000 after acquiring an additional 679 shares during the period. Quantum Financial Advisors LLC lifted its holdings in shares of Tyler Technologies by 2.0% during the 2nd quarter. Quantum Financial Advisors LLC now owns 1,743 shares of the technology company’s stock valued at $876,000 after acquiring an additional 35 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in Tyler Technologies by 9.5% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 890 shares of the technology company’s stock worth $447,000 after purchasing an additional 77 shares during the period. 93.30% of the stock is owned by hedge funds and other institutional investors.

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.