Tyler Technologies, Inc. (NYSE:TYL) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Tyler Technologies, Inc. (NYSE:TYL) have received a consensus rating of “Moderate Buy” from the fourteen brokerages that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $642.62.

TYL has been the topic of several recent research reports. Robert W. Baird upped their price objective 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. StockNews.com cut shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Barclays lifted their price objective on shares of Tyler Technologies from $700.00 to $705.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. The Goldman Sachs Group restated a “buy” rating and set a $627.00 target price on shares of Tyler Technologies in a research report on Friday, September 13th. Finally, Truist Financial reiterated a “buy” rating and issued a $685.00 price target (up from $600.00) on shares of Tyler Technologies in a research report on Friday, October 25th.

Insider Buying and Selling at Tyler Technologies

In other news, CEO H Lynn Moore, Jr. sold 6,250 shares of Tyler Technologies stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $605.82, for a total value of $3,786,375.00. Following the transaction, the chief executive officer now owns 75,000 shares in the company, valued at approximately $45,436,500. The trade was a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian K. Miller sold 3,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $602.72, for a total value of $1,808,160.00. Following the sale, the chief financial officer now owns 11,950 shares of the company’s stock, valued at $7,202,504. This represents a 20.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,252 shares of company stock worth $26,096,928 over the last three months. 2.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Tyler Technologies

A number of large investors have recently bought and sold shares of the stock. Ashton Thomas Securities LLC purchased a new stake in shares of Tyler Technologies during the third quarter valued at approximately $27,000. International Assets Investment Management LLC bought a new stake in Tyler Technologies during the 2nd quarter valued at $61,000. Quarry LP purchased a new stake in Tyler Technologies during the 3rd quarter valued at $78,000. Tobam bought a new stake in Tyler Technologies in the 3rd quarter worth $78,000. Finally, Brooklyn Investment Group purchased a new position in shares of Tyler Technologies in the third quarter valued at about $79,000. 93.30% of the stock is owned by hedge funds and other institutional investors.

Tyler Technologies Trading Up 1.7 %

NYSE:TYL opened at $584.17 on Wednesday. Tyler Technologies has a 12 month low of $397.80 and a 12 month high of $638.56. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The firm’s 50 day moving average is $608.52 and its 200 day moving average is $578.14. The stock has a market capitalization of $25.00 billion, a PE ratio of 106.60, a price-to-earnings-growth ratio of 5.54 and a beta of 0.76.

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

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.