Tyler Technologies (NYSE:TYL) Stock Rating Lowered by StockNews.com

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

A number of other brokerages have also commented on TYL. The Goldman Sachs Group upped their price target on shares of Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Piper Sandler upped their price target on shares of Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $615.00 price target (down previously from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. Needham & Company LLC reiterated a “buy” rating and issued a $700.00 price target on shares of Tyler Technologies in a research note on Tuesday, January 21st. Finally, Barclays boosted their price objective on shares of Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $676.25.

Tyler Technologies Stock Up 0.5 %

Tyler Technologies stock opened at $616.44 on Monday. The firm has a market capitalization of $26.52 billion, a PE ratio of 101.72, a P/E/G ratio of 4.93 and a beta of 0.78. The company’s 50-day moving average is $597.66 and its 200-day moving average is $597.22. Tyler Technologies has a fifty-two week low of $397.80 and a fifty-two week high of $661.31. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. Sell-side analysts anticipate that Tyler Technologies will post 8.52 earnings per share for the current year.

Insider Transactions at Tyler Technologies

In related news, insider John S. Marr, Jr. sold 6,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $633.55, for a total value of $3,801,300.00. Following the completion of the transaction, the insider now owns 6,983 shares of the company’s stock, valued at $4,424,079.65. This represents a 46.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Brian K. Miller sold 2,500 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $632.01, for a total transaction of $1,580,025.00. Following the completion of the transaction, the chief financial officer now directly owns 12,198 shares of the company’s stock, valued at approximately $7,709,257.98. The trade was a 17.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,252 shares of company stock valued at $9,525,365. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Tyler Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ballentine Partners LLC acquired a new stake in shares of Tyler Technologies during the third quarter worth $204,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Tyler Technologies by 103.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,109 shares of the technology company’s stock worth $2,373,000 after purchasing an additional 2,086 shares during the period. Forsta AP Fonden lifted its stake in shares of Tyler Technologies by 6.3% in the third quarter. Forsta AP Fonden now owns 8,500 shares of the technology company’s stock valued at $4,962,000 after buying an additional 500 shares in the last quarter. Arkadios Wealth Advisors lifted its stake in shares of Tyler Technologies by 47.4% in the third quarter. Arkadios Wealth Advisors now owns 2,087 shares of the technology company’s stock valued at $1,218,000 after buying an additional 671 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Tyler Technologies by 76.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,559 shares of the technology company’s stock valued at $2,077,000 after buying an additional 1,540 shares in the last quarter. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Tyler Technologies Company Profile

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.