Tyler Technologies (NYSE:TYL) Rating Increased to Buy at StockNews.com

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

A number of other brokerages have also recently weighed in on TYL. Robert W. Baird boosted their price objective on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Needham & Company LLC reiterated a “buy” rating and set a $700.00 target price on shares of Tyler Technologies in a research note on Tuesday, January 21st. Wells Fargo & Company reiterated an “equal weight” rating and set a $615.00 target price (down from $670.00) on shares of Tyler Technologies in a research note on Tuesday, January 7th. Barclays increased their price objective on shares of Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a research note on Friday. Finally, JMP Securities increased their price objective 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. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Tyler Technologies currently has an average rating of “Moderate Buy” and an average target price of $656.92.

Tyler Technologies Price Performance

Shares of Tyler Technologies stock opened at $642.39 on Friday. The firm has a fifty day simple moving average of $596.21 and a 200-day simple moving average of $594.15. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. Tyler Technologies has a 1-year low of $397.80 and a 1-year high of $661.31. The stock has a market capitalization of $27.49 billion, a price-to-earnings ratio of 117.22, a PEG ratio of 4.78 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. On average, sell-side analysts expect that Tyler Technologies 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 3,250 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $631.41, for a total value of $2,052,082.50. Following the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at approximately $47,355,750. This represents a 4.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian K. Miller sold 6,752 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $613.75, for a total transaction of $4,144,040.00. Following the completion of the sale, the chief financial officer now directly owns 11,918 shares in the company, valued at approximately $7,314,672.50. The trade was a 36.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,502 shares of company stock valued at $18,941,368. 2.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Tyler Technologies

Several large investors have recently made changes to their positions in TYL. Norges Bank bought a new stake in Tyler Technologies during the 4th quarter worth about $528,465,000. Van ECK Associates Corp grew its holdings in Tyler Technologies by 1,991.8% during the 4th quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock worth $317,486,000 after acquiring an additional 524,259 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Tyler Technologies by 252,047.5% during the 3rd quarter. International Assets Investment Management LLC now owns 307,620 shares of the technology company’s stock worth $179,564,000 after acquiring an additional 307,498 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Tyler Technologies during the 4th quarter valued at about $159,947,000. Finally, JPMorgan Chase & Co. lifted its position in Tyler Technologies by 148.2% during the 3rd 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 during the period. 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.