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

Tyler Technologies (NYSE:TYL) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

Other analysts have also issued reports about the stock. Piper Sandler upped their price target on shares of Tyler Technologies from $625.00 to $701.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Oppenheimer upped 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. Truist Financial restated a “buy” rating and issued a $685.00 price target (up previously from $600.00) on shares of Tyler Technologies in a research report on Friday, October 25th. JMP Securities upped 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 report on Friday, October 25th. Finally, Evercore ISI upgraded shares of Tyler Technologies to a “hold” rating in a research report on Friday, July 26th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $642.62.

Tyler Technologies Stock Performance

NYSE TYL traded down $2.14 on Monday, hitting $600.61. The stock had a trading volume of 150,010 shares, compared to its average volume of 228,285. Tyler Technologies has a one year low of $397.80 and a one year high of $631.43. 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 $25.71 billion, a price-to-earnings ratio of 109.60, a P/E/G ratio of 5.46 and a beta of 0.77. The company’s 50-day moving average is $588.09 and its two-hundred day moving average is $535.35.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, topping 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 firm had revenue of $543.34 million during the quarter, compared to analysts’ expectations of $547.34 million. During the same quarter in the prior year, the firm earned $1.66 EPS. Tyler Technologies’s quarterly revenue was up 9.8% on a year-over-year basis. On average, analysts expect that Tyler Technologies will post 7.39 earnings per share for the current year.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 2,000 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $567.96, for a total value of $1,135,920.00. Following the completion of the sale, the chief financial officer now directly owns 11,950 shares of the company’s stock, valued at $6,787,122. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider John S. Marr, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $578.94, for a total transaction of $2,894,700.00. Following the completion of the transaction, the insider now directly owns 6,983 shares of the company’s stock, valued at approximately $4,042,738.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian K. Miller sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $567.96, for a total transaction of $1,135,920.00. Following the transaction, the chief financial officer now directly owns 11,950 shares of the company’s stock, valued at $6,787,122. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,100 shares of company stock valued at $16,890,717 in the last ninety days. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Tyler Technologies

Hedge funds have recently made changes to their positions in the company. Independence Bank of Kentucky acquired a new stake in shares of Tyler Technologies during the 2nd quarter worth approximately $25,000. Ashton Thomas Securities LLC acquired a new stake in shares of Tyler Technologies during the 3rd quarter worth approximately $27,000. Covestor Ltd grew its position in shares of Tyler Technologies by 153.6% during the 1st quarter. Covestor Ltd now owns 71 shares of the technology company’s stock worth $30,000 after buying an additional 43 shares during the period. Blue Trust Inc. grew its position in shares of Tyler Technologies by 329.4% during the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company’s stock worth $37,000 after buying an additional 56 shares during the period. Finally, Lynx Investment Advisory acquired a new stake in shares of Tyler Technologies during the 2nd quarter worth approximately $38,000. Institutional investors and hedge funds 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.