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

Tyler Technologies, Inc. (NYSE:TYL) has earned a consensus rating of “Moderate Buy” from the thirteen brokerages that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $676.25.

Several research analysts recently issued reports on the company. Barclays lifted their target price on Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Piper Sandler increased their target price on shares of Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Needham & Company LLC reissued a “buy” rating and set a $700.00 target price on shares of Tyler Technologies in a research report on Tuesday, January 21st. DA Davidson restated a “neutral” rating and issued a $575.00 target price on shares of Tyler Technologies in a research note on Thursday, January 30th. Finally, The Goldman Sachs Group lifted their price target on Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th.

Tyler Technologies Price Performance

Shares of TYL opened at $558.18 on Friday. The business’s fifty day moving average is $590.89 and its 200 day moving average is $595.57. Tyler Technologies has a 12-month low of $397.80 and a 12-month high of $661.31. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. The stock has a market cap of $24.06 billion, a P/E ratio of 92.11, a P/E/G ratio of 4.93 and a beta of 0.84.

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

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 1,550 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $613.58, for a total value of $951,049.00. Following the completion of the transaction, the chief financial officer now owns 14,026 shares in the company, valued at $8,606,073.08. This trade represents a 9.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John S. Marr, Jr. sold 6,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $619.00, for a total value of $3,714,000.00. Following the sale, the insider now owns 6,983 shares in the company, valued at approximately $4,322,477. This represents a 46.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,064 shares of company stock worth $8,688,030 over the last quarter. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Tyler Technologies

Several hedge funds have recently bought and sold shares of TYL. Larson Financial Group LLC lifted its stake in Tyler Technologies by 221.4% in the 4th quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock worth $26,000 after purchasing an additional 31 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new stake in shares of Tyler Technologies in the first quarter worth $26,000. Sierra Ocean LLC purchased a new stake in shares of Tyler Technologies in the fourth quarter worth $32,000. Brown Brothers Harriman & Co. boosted its stake in Tyler Technologies by 300.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock valued at $32,000 after buying an additional 42 shares during the period. Finally, Kapitalo Investimentos Ltda purchased a new position in Tyler Technologies during the fourth quarter worth about $40,000. Hedge funds and other 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.