StockNews.com Upgrades Tyler Technologies (NYSE:TYL) to Buy

StockNews.com upgraded shares of Tyler Technologies (NYSE:TYL) from a hold rating to a buy rating in a research report released on Thursday.

TYL has been the topic of several other research reports. Wells Fargo & Company restated an “equal weight” rating and set a $615.00 price objective (down previously from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. Barclays raised their price target on Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Needham & Company LLC reiterated a “buy” rating and issued a $700.00 price objective on shares of Tyler Technologies in a report on Tuesday, January 21st. DA Davidson reissued a “neutral” rating and set a $575.00 price objective on shares of Tyler Technologies in a report on Thursday, January 30th. Finally, The Goldman Sachs Group upped their target price on Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $676.25.

Tyler Technologies Price Performance

Shares of NYSE TYL opened at $539.40 on Thursday. The stock’s 50-day simple moving average is $598.37 and its two-hundred day simple moving average is $597.21. Tyler Technologies has a twelve month low of $397.80 and a twelve month high of $661.31. The firm has a market capitalization of $23.25 billion, a P/E ratio of 89.01, a P/E/G ratio of 4.93 and a beta of 0.84. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. As a group, equities analysts anticipate that Tyler Technologies will post 8.52 EPS for the current fiscal year.

Insider Activity at Tyler Technologies

In other news, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $619.00, for a total transaction of $3,714,000.00. Following the sale, the insider now owns 6,983 shares of the company’s stock, valued at approximately $4,322,477. The trade was a 46.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total transaction of $4,022,981.26. Following the transaction, the chief executive officer now owns 75,734 shares in the company, valued at $46,772,561.06. This represents a 7.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,064 shares of company stock worth $8,688,030 over the last quarter. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Tyler Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its position in Tyler Technologies by 221.4% during the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock valued at $26,000 after buying an additional 31 shares during the period. Sierra Ocean LLC bought a new position in shares of Tyler Technologies during the fourth quarter valued at approximately $32,000. Brown Brothers Harriman & Co. boosted its position in shares of Tyler Technologies by 300.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock worth $32,000 after purchasing an additional 42 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of Tyler Technologies in the 4th quarter worth approximately $40,000. Finally, OFI Invest Asset Management bought a new position in Tyler Technologies during the 4th quarter valued at approximately $41,000. 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.