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

Tyler Technologies (NYSE:TYL) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Monday.

Several other research analysts have also recently weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Piper Sandler raised their price objective on shares of Tyler Technologies from $701.00 to $747.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. DA Davidson reaffirmed a “neutral” rating and set a $575.00 price objective on shares of Tyler Technologies in a report on Thursday, January 30th. Truist Financial reiterated a “buy” rating and issued a $775.00 target price (up from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Finally, Barclays raised their price target on Tyler Technologies from $705.00 to $715.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $676.25.

Tyler Technologies Stock Performance

Shares of NYSE:TYL traded down $3.02 during trading on Monday, hitting $612.20. 244,683 shares of the company were exchanged, compared to its average volume of 246,528. Tyler Technologies has a 52-week low of $397.80 and a 52-week high of $661.31. The stock has a 50 day moving average of $597.49 and a 200 day moving average of $596.93. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21. The company has a market cap of $26.33 billion, a PE ratio of 101.02, a P/E/G ratio of 4.93 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 (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.57). Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. As a group, equities research analysts predict that Tyler Technologies will post 8.52 EPS for the current year.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 6,752 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $613.75, for a total transaction of $4,144,040.00. Following the completion of the transaction, the chief financial officer now owns 11,918 shares of the company’s stock, valued at approximately $7,314,672.50. This trade represents a 36.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO H Lynn Moore, Jr. sold 3,250 shares of Tyler Technologies stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $631.41, for a total transaction of $2,052,082.50. Following the transaction, the chief executive officer now owns 75,000 shares of the company’s stock, valued at $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 90 days, insiders sold 18,502 shares of company stock valued at $11,577,448. 2.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Tyler Technologies in the fourth quarter worth $528,465,000. Van ECK Associates Corp boosted its stake in Tyler Technologies by 1,991.8% in the 4th quarter. Van ECK Associates Corp now owns 550,580 shares of the technology company’s stock worth $317,486,000 after purchasing an additional 524,259 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Tyler Technologies during the 4th quarter valued at about $159,947,000. JPMorgan Chase & Co. increased its stake 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 in the last quarter. Finally, Seilern Investment Management Ltd purchased a new position in Tyler Technologies in the fourth quarter worth about $105,549,000. 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.