Tyler Technologies (NYSE:TYL) Downgraded to “Hold” Rating by StockNews.com

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

Several other research firms also recently commented on TYL. Piper Sandler boosted their price objective on Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a report on Friday, October 25th. JMP Securities boosted their price target on shares of Tyler Technologies from $580.00 to $700.00 and gave the company a “market outperform” rating in a research note on Friday, October 25th. Robert W. Baird raised 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. Truist Financial reissued a “buy” rating and set a $685.00 target price (up from $600.00) on shares of Tyler Technologies in a research report on Friday, October 25th. Finally, Oppenheimer raised their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $642.62.

Tyler Technologies Stock Down 1.2 %

Tyler Technologies stock opened at $623.15 on Friday. The company has a market capitalization of $26.67 billion, a PE ratio of 113.71, a PEG ratio of 5.76 and a beta of 0.76. Tyler Technologies has a 12-month low of $397.80 and a 12-month high of $638.56. The firm’s fifty day moving average is $604.80 and its 200 day moving average is $561.11. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.09. The firm had revenue of $543.34 million for the quarter, compared to analyst estimates of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.66 earnings per share. As a group, sell-side analysts predict that Tyler Technologies will post 7.36 EPS for the current fiscal year.

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 5,000 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $576.62, for a total value of $2,883,100.00. Following the transaction, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $43,246,500. The trade was a 6.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John S. Marr, Jr. sold 12,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $613.66, for a total value of $7,363,920.00. Following the completion of the transaction, the insider now owns 6,983 shares of the company’s stock, valued at $4,285,187.78. This trade represents a 63.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,500 shares of company stock worth $27,790,888 in the last 90 days. Insiders own 2.20% of the company’s stock.

Institutional Trading of Tyler Technologies

Several hedge funds have recently added to or reduced their stakes in the stock. Waldron Private Wealth LLC increased its stake in shares of Tyler Technologies by 3.5% during the 2nd quarter. Waldron Private Wealth LLC now owns 716 shares of the technology company’s stock worth $360,000 after purchasing an additional 24 shares during the last quarter. FWG Holdings LLC increased its position in Tyler Technologies by 3.1% in the third quarter. FWG Holdings LLC now owns 910 shares of the technology company’s stock worth $551,000 after buying an additional 27 shares during the last quarter. George Kaiser Family Foundation increased its position in Tyler Technologies by 0.7% in the second quarter. George Kaiser Family Foundation now owns 4,177 shares of the technology company’s stock worth $2,100,000 after buying an additional 29 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Tyler Technologies by 2.3% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,377 shares of the technology company’s stock valued at $804,000 after buying an additional 31 shares during the period. Finally, UMB Bank n.a. lifted its position in shares of Tyler Technologies by 2.4% during the 3rd quarter. UMB Bank n.a. now owns 1,354 shares of the technology company’s stock valued at $790,000 after buying an additional 32 shares during the last quarter. Institutional investors own 93.30% of the company’s stock.

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.