Zacks Investment Research upgraded shares of Tyler Technologies (NYSE:TYL) from a hold rating to a buy rating in a report published on Thursday. Zacks Investment Research currently has $234.00 price target on the technology company’s stock.
According to Zacks, “Tyler Technologies, Inc. is engaged in providing integrated information management solutions and services to the public sector. It provides software products and services; professional IT services; subscription-based services; property appraisal outsourcing services. Its products generally automate three major functional areas (1) financial management and education, (2) courts and justice and (3) property appraisal and tax. Tyler operates in two reportable segments: Enterprise Software Solutions (ESS) and Appraisal and Tax Software Solutions and Services. The Enterprise Software Solutions (ESS) segment provides software systems to municipal and county governments and schools. The Appraisal and Tax Software Solutions and Services segment provides systems and software that automate the appraisal and assessment of real and personal property as well as property appraisal outsourcing services for local governments and taxing authorities. Tyler Technologies, Inc. is headquartered in Dallas, Texas. “
Several other research firms have also recently weighed in on TYL. DA Davidson assumed coverage on shares of Tyler Technologies in a research note on Wednesday, March 7th. They issued a neutral rating and a $190.00 target price for the company. Robert W. Baird started coverage on shares of Tyler Technologies in a research note on Tuesday, March 13th. They set an outperform rating and a $240.00 price target for the company. ValuEngine upgraded shares of Tyler Technologies from a hold rating to a buy rating in a research note on Wednesday, April 4th. Evercore ISI restated a buy rating and set a $210.00 price target on shares of Tyler Technologies in a research note on Friday, February 23rd. Finally, Needham & Company LLC restated a buy rating and set a $235.00 price target on shares of Tyler Technologies in a research note on Friday, February 23rd. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Tyler Technologies has a consensus rating of Buy and a consensus price target of $210.27.
Shares of NYSE TYL traded down $0.10 during mid-day trading on Thursday, hitting $214.54. The company had a trading volume of 23,886 shares, compared to its average volume of 216,475. Tyler Technologies has a 12 month low of $154.39 and a 12 month high of $216.75. The stock has a market cap of $8,126.73, a PE ratio of 63.63 and a beta of 0.91.
Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, February 21st. The technology company reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.03. Tyler Technologies had a net margin of 19.50% and a return on equity of 12.49%. The business had revenue of $217.85 million during the quarter, compared to analysts’ expectations of $220.56 million. During the same quarter last year, the company earned $0.90 earnings per share. The firm’s revenue was up 12.7% on a year-over-year basis. sell-side analysts predict that Tyler Technologies will post 3.87 earnings per share for the current year.
In related news, VP Brian K. Miller sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $210.54, for a total value of $1,052,700.00. Following the completion of the sale, the vice president now owns 55,114 shares of the company’s stock, valued at $11,603,701.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John S. Marr, Jr. sold 41,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $209.05, for a total transaction of $8,571,050.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 114,582 shares of company stock valued at $23,816,504. Company insiders own 4.70% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Xact Kapitalforvaltning AB acquired a new stake in shares of Tyler Technologies in the fourth quarter valued at approximately $522,000. Envestnet Asset Management Inc. grew its holdings in Tyler Technologies by 0.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 28,057 shares of the technology company’s stock worth $4,968,000 after acquiring an additional 262 shares during the period. Ashford Capital Management Inc. grew its holdings in Tyler Technologies by 0.6% during the 4th quarter. Ashford Capital Management Inc. now owns 52,683 shares of the technology company’s stock worth $9,328,000 after acquiring an additional 300 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in Tyler Technologies during the 4th quarter worth $1,219,000. Finally, MetLife Investment Advisors LLC acquired a new stake in Tyler Technologies during the 4th quarter worth $3,914,000. 94.47% of the stock is owned by institutional investors and hedge funds.
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Tyler Technologies Company Profile
Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. It operates through two segments, Enterprise Software, and Appraisal and Tax. The company's financial management solutions include modular fund accounting systems for government agencies or not-for-profit entities; and utility billing systems for the billing and collection of metered and non-metered services.
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