Tyler Technologies (NYSE:TYL) Hits New 52-Week High – What’s Next?

Shares of Tyler Technologies, Inc. (NYSE:TYL) hit a new 52-week high on Tuesday . The stock traded as high as $635.40 and last traded at $635.19, with a volume of 246743 shares. The stock had previously closed at $624.19.

Analyst Upgrades and Downgrades

TYL has been the subject of a number of recent analyst reports. Piper Sandler boosted their target price on shares of Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Oppenheimer boosted their price objective on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. StockNews.com raised Tyler Technologies from a “hold” rating to a “buy” rating in a research report on Thursday. Robert W. Baird boosted their price target on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, Needham & Company LLC raised their price objective on Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $642.62.

Tyler Technologies Price Performance

The business’s 50 day moving average price is $598.13 and its 200-day moving average price is $554.74. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18. The company has a market cap of $26.98 billion, a PE ratio of 115.04, a price-to-earnings-growth ratio of 5.65 and a beta of 0.77.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.09. The firm had revenue of $543.34 million for the quarter, compared to the consensus estimate of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.66 EPS. As a group, analysts forecast that Tyler Technologies, Inc. will post 7.36 earnings per share for the current year.

Insider Transactions at Tyler Technologies

In other news, CEO H Lynn Moore, Jr. sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $590.98, for a total transaction of $2,954,900.00. Following the completion of the transaction, the chief executive officer now owns 75,000 shares in the company, valued at approximately $44,323,500. This represents a 6.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John S. Marr, Jr. sold 12,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $613.66, for a total transaction of $7,363,920.00. Following the transaction, the insider now directly owns 6,983 shares of the company’s stock, valued at $4,285,187.78. The trade was a 63.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,100 shares of company stock worth $22,309,090. 1.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tyler Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Swedbank AB acquired a new position in shares of Tyler Technologies during the second quarter valued at $251,390,000. International Assets Investment Management LLC raised its holdings 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 worth $179,564,000 after purchasing an additional 307,498 shares in the last quarter. FMR LLC lifted its position in Tyler Technologies by 94.1% in the third quarter. FMR LLC now owns 109,319 shares of the technology company’s stock worth $63,812,000 after purchasing an additional 52,984 shares during the period. Westwind Capital boosted its stake in Tyler Technologies by 7,614.0% during the 3rd quarter. Westwind Capital now owns 46,361 shares of the technology company’s stock valued at $27,062,000 after purchasing an additional 45,760 shares in the last quarter. Finally, LMR Partners LLP acquired a new position in shares of Tyler Technologies during the 3rd quarter valued at $23,383,000. 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.