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

Tyler Technologies (NYSE:TYL) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

Other equities research analysts also recently issued research reports about the stock. Truist Financial reissued a “buy” rating and set a $775.00 price objective (up previously from $685.00) on shares of Tyler Technologies in a research report on Friday. Piper Sandler upped their price target on Tyler Technologies from $701.00 to $747.00 and gave the stock an “overweight” rating in a research report on Friday. DA Davidson reaffirmed a “neutral” rating and set a $575.00 price objective on shares of Tyler Technologies in a research report on Thursday, January 30th. JMP Securities increased their target price on shares of Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a report on Friday, October 25th. Finally, Oppenheimer lifted their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $667.83.

Tyler Technologies Stock Down 0.7 %

TYL stock opened at $642.39 on Friday. The company has a market cap of $27.49 billion, a price-to-earnings ratio of 117.22, a P/E/G ratio of 4.78 and a beta of 0.78. 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 business’s 50-day moving average is $596.21 and its two-hundred day moving average is $594.29. Tyler Technologies has a fifty-two week low of $397.80 and a fifty-two week high of $661.31.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.87 earnings per share (EPS) 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, analysts forecast that Tyler Technologies will post 7.36 earnings per share for the current year.

Insider Buying and Selling

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $633.55, for a total transaction of $3,801,300.00. Following the completion of the transaction, the insider now owns 6,983 shares in the company, valued at $4,424,079.65. This trade represents a 46.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brian K. Miller sold 6,752 shares of the business’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 owns 11,918 shares in the company, valued at approximately $7,314,672.50. This trade represents a 36.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,502 shares of company stock worth $18,941,368. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Tyler Technologies

Several large investors have recently added to or reduced their stakes in the stock. Oak Thistle LLC increased its position in shares of Tyler Technologies by 213.7% during the 4th quarter. Oak Thistle LLC now owns 2,328 shares of the technology company’s stock valued at $1,342,000 after purchasing an additional 1,586 shares during the last quarter. Aigen Investment Management LP bought a new position in Tyler Technologies during the third quarter valued at $1,309,000. Maiden Cove Capital LLC purchased a new stake in shares of Tyler Technologies in the third quarter valued at $583,000. Assetmark Inc. lifted its holdings in shares of Tyler Technologies by 9.4% in the 3rd quarter. Assetmark Inc. now owns 9,910 shares of the technology company’s stock worth $5,785,000 after acquiring an additional 854 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Tyler Technologies during the 3rd quarter worth about $569,000. 93.30% of the stock is owned by institutional investors.

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.