Tyler Technologies (NYSE:TYL) Sets New 52-Week High – Here’s What Happened

Tyler Technologies, Inc. (NYSE:TYL) shares reached a new 52-week high on Thursday . The company traded as high as $660.55 and last traded at $647.37, with a volume of 101223 shares trading hands. The stock had previously closed at $610.27.

Analyst Upgrades and Downgrades

TYL has been the topic of a number of analyst reports. StockNews.com upgraded shares of Tyler Technologies from a “hold” rating to a “buy” rating in a research note on Friday. Piper Sandler lifted their target price on shares of Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a research note on Friday. Truist Financial restated a “buy” rating and set a $775.00 target price (up previously from $685.00) on shares of Tyler Technologies in a research note on Friday. Robert W. Baird boosted their price target 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. Finally, JMP Securities boosted their price target on shares of Tyler Technologies from $580.00 to $700.00 and gave the stock 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 given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $656.92.

Tyler Technologies Stock Performance

The business’s fifty day moving average price is $596.21 and its two-hundred day moving average price is $594.15. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market capitalization of $27.49 billion, a P/E ratio of 117.22, a P/E/G ratio of 4.78 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last posted 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%. As a group, sell-side analysts forecast that Tyler Technologies, Inc. will post 7.36 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Brian K. Miller sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $632.01, for a total transaction of $1,580,025.00. Following the transaction, the chief financial officer now directly owns 12,198 shares of the company’s stock, valued at approximately $7,709,257.98. This trade represents a 17.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John S. Marr, Jr. sold 12,000 shares of the stock in a transaction that occurred on 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 owns 6,983 shares in the company, valued at approximately $4,285,187.78. This represents a 63.21 % 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 ninety days. 2.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tyler Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Larson Financial Group LLC boosted its stake in Tyler Technologies by 221.4% in the fourth quarter. Larson Financial Group LLC now owns 45 shares of the technology company’s stock valued at $26,000 after acquiring an additional 31 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in Tyler Technologies in the third quarter valued at approximately $27,000. Sierra Ocean LLC acquired a new stake in Tyler Technologies in the fourth quarter valued at approximately $32,000. Brown Brothers Harriman & Co. boosted its stake in Tyler Technologies by 300.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company’s stock valued at $32,000 after acquiring an additional 42 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new stake in Tyler Technologies in the fourth quarter valued at approximately $40,000. 93.30% of the stock is currently owned by institutional investors.

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.