Tyler Technologies (NYSE:TYL) Upgraded by StockNews.com to Buy Rating

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

A number of other research analysts also recently issued reports on TYL. Wells Fargo & Company restated an “equal weight” rating and issued a $615.00 price target (down from $670.00) on shares of Tyler Technologies in a research report on Tuesday, January 7th. DA Davidson restated a “neutral” rating and issued a $575.00 price target on shares of Tyler Technologies in a research report on Thursday, January 30th. Truist Financial restated a “buy” rating and issued a $775.00 price target (up from $685.00) on shares of Tyler Technologies in a research report on Friday. Barclays raised their price target on shares of Tyler Technologies from $705.00 to $715.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Needham & Company LLC restated a “buy” rating and issued a $700.00 price target on shares of Tyler Technologies in a research report on Tuesday, January 21st. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tyler Technologies has an average rating of “Moderate Buy” and an average target price of $656.92.

Tyler Technologies Price Performance

TYL opened at $642.39 on Friday. Tyler Technologies has a twelve month low of $397.80 and a twelve month high of $661.31. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The firm has a market cap of $27.49 billion, a price-to-earnings ratio of 117.22, a PEG ratio of 4.78 and a beta of 0.78. The company has a fifty day simple moving average of $596.21 and a 200 day simple moving average of $594.15.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data 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 11.39% and a return on equity of 9.79%. Equities research analysts expect that Tyler Technologies will post 7.36 EPS for the current fiscal year.

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $632.01, for a total value of $1,580,025.00. Following the completion of the transaction, the chief financial officer now directly owns 12,198 shares in the company, valued at $7,709,257.98. This trade represents a 17.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO H Lynn Moore, Jr. sold 3,250 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $631.41, for a total transaction of $2,052,082.50. Following the completion of the transaction, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $47,355,750. The trade was a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock valued at $18,941,368 in the last quarter. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TYL. Norges Bank acquired a new position in shares of Tyler Technologies in the fourth quarter worth about $528,465,000. Van ECK Associates Corp grew its position in Tyler Technologies by 1,991.8% during the fourth quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock valued at $317,486,000 after purchasing an additional 524,259 shares in the last quarter. International Assets Investment Management LLC grew its position in Tyler Technologies by 252,047.5% during the third quarter. International Assets Investment Management LLC now owns 307,620 shares of the technology company’s stock valued at $179,564,000 after purchasing an additional 307,498 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Tyler Technologies during the fourth quarter valued at approximately $159,947,000. Finally, JPMorgan Chase & Co. grew its position in Tyler Technologies by 148.2% during the third quarter. JPMorgan Chase & Co. now owns 461,469 shares of the technology company’s stock valued at $269,369,000 after purchasing an additional 275,511 shares in the last quarter. 93.30% of the stock is currently owned by institutional investors and hedge funds.

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.