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

Tyler Technologies (NYSE:TYL) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

A number of other analysts have also commented on TYL. Truist Financial reiterated a “buy” rating and set a $685.00 price target (up from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Piper Sandler raised their price objective on shares of Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. BTIG Research raised their price target on shares of Tyler Technologies from $550.00 to $630.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Barclays raised their target price on Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Needham & Company LLC increased their price target on Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Tyler Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $642.62.

Tyler Technologies Stock Up 0.2 %

NYSE:TYL traded up $1.46 on Wednesday, hitting $601.14. The stock had a trading volume of 236,524 shares, compared to its average volume of 230,232. The company has a market cap of $25.73 billion, a PE ratio of 109.70, a P/E/G ratio of 5.39 and a beta of 0.77. The business’s fifty day moving average is $594.40 and its 200 day moving average is $549.91. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies has a 52 week low of $397.80 and a 52 week high of $631.43.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 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 the consensus estimate of $547.34 million. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.66 earnings per share. On average, equities research analysts expect that Tyler Technologies will post 7.39 EPS for the current fiscal year.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 2,500 shares of Tyler Technologies stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $586.97, for a total value of $1,467,425.00. Following the completion of the sale, the chief financial officer now owns 11,950 shares of the company’s stock, valued at approximately $7,014,291.50. The trade was a 17.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 sale, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at approximately $45,436,500. The trade was a 7.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,600 shares of company stock valued at $16,412,595 in the last three months. Company insiders own 1.50% of the company’s stock.

Institutional Trading of Tyler Technologies

Several hedge funds have recently modified their holdings of the company. Waldron Private Wealth LLC boosted its stake in shares of Tyler Technologies by 3.5% during the second quarter. Waldron Private Wealth LLC now owns 716 shares of the technology company’s stock valued at $360,000 after purchasing an additional 24 shares during the period. FWG Holdings LLC increased its position 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 worth $551,000 after purchasing an additional 27 shares in the last quarter. Industrial Alliance Investment Management Inc. raised 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 last quarter. George Kaiser Family Foundation lifted its position in Tyler Technologies by 0.7% during the 2nd quarter. George Kaiser Family Foundation now owns 4,177 shares of the technology company’s stock worth $2,100,000 after acquiring an additional 29 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Tyler Technologies by 2.3% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,377 shares of the technology company’s stock valued at $804,000 after acquiring an additional 31 shares during the last quarter. 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.