Tyler Technologies (NYSE:TYL) Reaches New 1-Year High – Still a Buy?

Tyler Technologies, Inc. (NYSE:TYL) shares reached a new 52-week high during trading on Thursday . The company traded as high as $638.56 and last traded at $632.13, with a volume of 29352 shares trading hands. The stock had previously closed at $635.69.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. DA Davidson increased their price target on Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Robert W. Baird increased their target price on Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. 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 research note on Friday, October 25th. Needham & Company LLC increased their price target on Tyler Technologies from $600.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Oppenheimer upped their target price on Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $642.62.

Tyler Technologies Trading Down 1.2 %

The stock has a 50-day moving average of $602.85 and a 200 day moving average of $559.72. 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 stock has a market cap of $26.89 billion, a PE ratio of 116.00, a price-to-earnings-growth ratio of 5.64 and a beta of 0.76.

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

Insider Buying and Selling

In related news, CFO Brian K. Miller sold 3,000 shares of Tyler Technologies stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $602.72, for a total value of $1,808,160.00. Following the completion of the transaction, the chief financial officer now owns 11,950 shares in the company, valued at $7,202,504. The trade was a 20.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO H Lynn Moore, Jr. sold 3,250 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $631.41, for a total value of $2,052,082.50. Following the transaction, the chief executive officer now directly 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. Over the last three months, insiders have sold 37,000 shares of company stock valued at $22,409,563. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Tyler Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. boosted its position in Tyler Technologies by 2.0% during the third quarter. Franklin Resources Inc. now owns 912,746 shares of the technology company’s stock worth $547,354,000 after acquiring an additional 17,943 shares during the last quarter. Tidal Investments LLC lifted its stake in Tyler Technologies by 11.2% in the 3rd quarter. Tidal Investments LLC now owns 2,412 shares of the technology company’s stock worth $1,408,000 after purchasing an additional 243 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Tyler Technologies during the 3rd quarter worth approximately $651,000. Sanctuary Advisors LLC grew its position in shares of Tyler Technologies by 411.0% in the third quarter. Sanctuary Advisors LLC now owns 13,716 shares of the technology company’s stock valued at $8,354,000 after purchasing an additional 11,032 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Tyler Technologies in the third quarter valued at approximately $1,825,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

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.