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

Tyler Technologies (NYSE:TYL) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

TYL has been the topic of several other research reports. Oppenheimer raised their price target on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. BTIG Research boosted their price target on shares of Tyler Technologies from $550.00 to $630.00 and gave the company a “buy” rating in a report on Friday, July 26th. Needham & Company LLC upped their price target on shares of Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. JMP Securities lifted their price objective on shares of Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a research report on Friday, October 25th. Finally, Truist Financial restated a “buy” rating and issued a $685.00 target price (up previously from $600.00) on shares of Tyler Technologies in a research report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $642.62.

Tyler Technologies Stock Performance

Tyler Technologies stock opened at $597.21 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. Tyler Technologies has a 12 month low of $397.80 and a 12 month high of $631.43. The company has a fifty day moving average price of $594.40 and a two-hundred day moving average price of $549.91. The company has a market cap of $25.56 billion, a PE ratio of 108.98, a P/E/G ratio of 5.41 and a beta of 0.77.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.43 by $0.09. The business 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 company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.66 EPS. Research analysts expect that Tyler Technologies will post 7.39 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Brian K. Miller sold 2,500 shares of the business’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 sale, the chief financial officer now owns 11,950 shares of the company’s stock, valued at approximately $7,461,699.50. The trade was a 17.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Glenn A. Carter sold 3,350 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $582.57, for a total value of $1,951,609.50. Following the transaction, the director now directly owns 2,654 shares of the company’s stock, valued at $1,546,140.78. This represents a 55.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,600 shares of company stock worth $16,412,595 over the last ninety days. Company insiders own 2.20% of the company’s stock.

Institutional Trading of Tyler Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Waldron Private Wealth LLC lifted its position in shares of Tyler Technologies by 3.5% during the 2nd quarter. Waldron Private Wealth LLC now owns 716 shares of the technology company’s stock valued at $360,000 after acquiring an additional 24 shares during the last quarter. FWG Holdings LLC lifted its holdings in shares of Tyler Technologies by 3.1% during the third quarter. FWG Holdings LLC now owns 910 shares of the technology company’s stock valued at $551,000 after purchasing an additional 27 shares during the last quarter. Industrial Alliance Investment Management Inc. boosted its position in shares of Tyler Technologies by 4.4% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 693 shares of the technology company’s stock valued at $295,000 after purchasing an additional 29 shares during the period. George Kaiser Family Foundation increased its stake in Tyler Technologies by 0.7% in the 2nd quarter. George Kaiser Family Foundation now owns 4,177 shares of the technology company’s stock worth $2,100,000 after purchasing an additional 29 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised 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 buying an additional 31 shares during the period. 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.