Tyler Technologies, Inc. (NYSE:TYL) Receives Consensus Rating of “Moderate Buy” from Brokerages

Tyler Technologies, Inc. (NYSE:TYL) has earned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $643.77.

Several equities analysts recently commented on the company. Piper Sandler boosted their target price on 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 upped their price objective on shares of Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Oppenheimer lifted their target price on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Robert W. Baird boosted their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Finally, Needham & Company LLC restated a “buy” rating and set a $700.00 price objective on shares of Tyler Technologies in a research report on Tuesday, January 21st.

Tyler Technologies Stock Performance

Shares of TYL stock opened at $591.97 on Friday. The firm’s 50 day moving average is $597.90 and its 200 day moving average is $586.21. The stock has a market capitalization of $25.34 billion, a P/E ratio of 108.02, a PEG ratio of 4.55 and a beta of 0.78. 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.

Tyler Technologies (NYSE:TYL) last issued its 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 during the quarter, compared to the consensus estimate of $547.34 million. During the same quarter last year, the company earned $1.66 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Tyler Technologies will post 7.36 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO H Lynn Moore, Jr. sold 6,250 shares of Tyler Technologies stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $605.82, for a total value of $3,786,375.00. Following the completion of the transaction, the chief executive officer now owns 75,000 shares in the company, valued at approximately $45,436,500. This trade represents a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Brian K. Miller sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $602.72, for a total value of $1,808,160.00. Following the transaction, the chief financial officer now directly owns 11,950 shares in the company, 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 a total of 42,252 shares of company stock worth $26,096,928 in the last 90 days. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB boosted its position in Tyler Technologies by 18.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the technology company’s stock valued at $78,000 after buying an additional 21 shares during the period. Baron Wealth Management LLC raised its stake in shares of Tyler Technologies by 1.5% during the fourth quarter. Baron Wealth Management LLC now owns 1,487 shares of the technology company’s stock valued at $857,000 after acquiring an additional 22 shares in the last quarter. Oak Ridge Investments LLC boosted its holdings in shares of Tyler Technologies by 0.8% in the fourth quarter. Oak Ridge Investments LLC now owns 3,011 shares of the technology company’s stock valued at $1,736,000 after purchasing an additional 25 shares during the period. FWG Holdings LLC grew its stake in Tyler Technologies by 3.1% in the third quarter. FWG Holdings LLC now owns 910 shares of the technology company’s stock worth $551,000 after purchasing an additional 27 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its holdings in Tyler Technologies by 2.3% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,377 shares of the technology company’s stock worth $804,000 after purchasing an additional 31 shares during the period. 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.