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

Shares of Tyler Technologies, Inc. (NYSE:TYL) have been assigned a consensus rating of “Moderate Buy” from the fourteen analysts that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $601.38.

TYL has been the subject of a number of analyst reports. Piper Sandler boosted their price objective on shares of Tyler Technologies from $529.00 to $625.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Truist Financial restated a “buy” rating and set a $600.00 price target (up from $560.00) on shares of Tyler Technologies in a report on Friday, July 26th. Oppenheimer lifted their price objective on Tyler Technologies from $550.00 to $625.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Wells Fargo & Company boosted their price objective on Tyler Technologies from $580.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, BTIG Research raised their target price on Tyler Technologies from $550.00 to $630.00 and gave the company a “buy” rating in a report on Friday, July 26th.

Tyler Technologies Stock Up 5.0 %

TYL stock opened at $611.47 on Friday. The firm has a market cap of $26.09 billion, a PE ratio of 126.34, a PEG ratio of 5.42 and a beta of 0.78. Tyler Technologies has a 1 year low of $361.16 and a 1 year high of $631.43. The company has a fifty day simple moving average of $584.45 and a 200 day simple moving average of $525.37. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.19.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The company had revenue of $543.34 million during the quarter, compared to analysts’ expectations of $547.34 million. During the same quarter in the previous year, the firm earned $1.66 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. Sell-side analysts anticipate that Tyler Technologies will post 7.21 EPS for the current fiscal year.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 2,000 shares of the business’s 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 sale, the chief financial officer now owns 11,950 shares of the company’s stock, valued at $6,787,122. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO H Lynn Moore, Jr. sold 5,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $576.62, for a total value of $2,883,100.00. Following the completion of the transaction, the chief executive officer now owns 75,000 shares of the company’s stock, valued at $43,246,500. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brian K. Miller sold 2,000 shares of Tyler Technologies stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 11,950 shares in the company, 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. Over the last ninety days, insiders sold 29,375 shares of company stock worth $17,049,739. 2.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tyler Technologies

Hedge funds have recently modified their holdings of the stock. American International Group Inc. raised its stake in Tyler Technologies by 2.0% during the fourth quarter. American International Group Inc. now owns 12,875 shares of the technology company’s stock worth $5,383,000 after acquiring an additional 254 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Tyler Technologies by 1.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,370 shares of the technology company’s stock worth $3,082,000 after purchasing an additional 112 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Tyler Technologies during the 4th quarter worth about $355,000. Kapitalo Investimentos Ltda bought a new position in Tyler Technologies during the 4th quarter valued at about $26,000. Finally, GAMMA Investing LLC boosted its position in Tyler Technologies by 22.7% in the first quarter. GAMMA Investing LLC now owns 568 shares of the technology company’s stock valued at $241,000 after buying an additional 105 shares in the last quarter. 93.30% of the stock is owned by institutional investors and hedge funds.

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.