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

Tyler Technologies (NYSE:TYL) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other equities research analysts also recently commented on TYL. Needham & Company LLC restated a “buy” rating and set a $750.00 price objective on shares of Tyler Technologies in a report on Thursday, April 24th. The Goldman Sachs Group boosted 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. Robert W. Baird dropped their price objective on shares of Tyler Technologies from $785.00 to $700.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Truist Financial reissued a “buy” rating and set a $775.00 target price (up from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Finally, Wells Fargo & Company lowered their target price on shares of Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $674.67.

Tyler Technologies Stock Performance

Shares of TYL opened at $560.06 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The firm’s fifty day simple moving average is $563.43 and its two-hundred day simple moving average is $590.82. Tyler Technologies has a 12 month low of $458.50 and a 12 month high of $661.31. The stock has a market capitalization of $24.15 billion, a P/E ratio of 92.42, a price-to-earnings-growth ratio of 4.93 and a beta of 0.88.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.22. Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. The company had revenue of $562.43 million during the quarter, compared to analyst estimates of $556.45 million. During the same quarter in the previous year, the business posted $2.20 EPS. Tyler Technologies’s revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, analysts predict that Tyler Technologies will post 8.52 EPS for the current year.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 1,033 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $557.45, for a total transaction of $575,845.85. Following the completion of the transaction, the chief financial officer now owns 13,028 shares in the company, valued at $7,262,458.60. This trade represents a 7.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO H Lynn Moore, Jr. sold 6,514 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 75,734 shares in the company, valued at $46,772,561.06. The trade was a 7.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,462 shares of company stock worth $9,464,626 in the last quarter. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TYL. Retirement Wealth Solutions LLC bought a new position in Tyler Technologies in the 1st quarter worth about $26,000. Larson Financial Group LLC lifted its holdings in shares of Tyler Technologies by 221.4% in the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock worth $26,000 after buying an additional 31 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC boosted its position in shares of Tyler Technologies by 820.0% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company’s stock valued at $27,000 after acquiring an additional 41 shares during the period. Sierra Ocean LLC purchased a new position in Tyler Technologies during the fourth quarter valued at approximately $32,000. Finally, Brown Brothers Harriman & Co. grew 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 acquiring an additional 42 shares in the last quarter. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

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.