Tyler Technologies, Inc. (NYSE:TYL) Receives Consensus Recommendation of "Moderate Buy" from Brokerages – MarketBeat

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Shares of Tyler Technologies, Inc. (NYSE:TYL – Get Rating) have been given an average recommendation of “Moderate Buy” by the thirteen research firms that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $470.55.
Several research firms have recently issued reports on TYL. DA Davidson lifted their price target on Tyler Technologies to $460.00 in a research report on Tuesday, August 9th. Truist Financial lowered their price target on Tyler Technologies from $550.00 to $500.00 and set a “buy” rating for the company in a research report on Tuesday, July 5th. Credit Suisse Group began coverage on Tyler Technologies in a research report on Monday, May 9th. They issued a “neutral” rating and a $408.00 price target for the company. Needham & Company LLC lowered their price target on Tyler Technologies from $575.00 to $475.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. Finally, Barclays decreased their target price on Tyler Technologies from $445.00 to $370.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 12th.

Tyler Technologies Stock Performance

NYSE:TYL opened at $363.67 on Friday. The stock has a market cap of $15.12 billion, a P/E ratio of 86.38 and a beta of 0.90. The firm’s fifty day simple moving average is $371.96 and its 200 day simple moving average is $384.08. Tyler Technologies has a twelve month low of $300.85 and a twelve month high of $557.55. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.50.
Tyler Technologies (NYSE:TYL – Get Rating) last announced its earnings results on Wednesday, July 27th. The technology company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.05. The firm had revenue of $468.70 million for the quarter, compared to analysts’ expectations of $458.50 million. Tyler Technologies had a net margin of 9.84% and a return on equity of 10.26%. The company’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.42 EPS. As a group, research analysts predict that Tyler Technologies will post 5.53 EPS for the current year.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, Chairman John S. Marr, Jr. sold 6,000 shares of the business’s stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $363.75, for a total transaction of $2,182,500.00. Following the completion of the sale, the chairman now directly owns 57,638 shares in the company, valued at approximately $20,965,822.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Tyler Technologies news, Chairman John S. Marr, Jr. sold 6,000 shares of the business’s stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $363.75, for a total transaction of $2,182,500.00. Following the completion of the sale, the chairman now directly owns 57,638 shares in the company, valued at approximately $20,965,822.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Jeffrey David Puckett sold 3,906 shares of the business’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $390.15, for a total value of $1,523,925.90. Following the sale, the chief operating officer now owns 3,569 shares of the company’s stock, valued at $1,392,445.35. The disclosure for this sale can be found here. Insiders sold a total of 12,156 shares of company stock worth $4,618,576 in the last three months. 2.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Verition Fund Management LLC bought a new position in shares of Tyler Technologies during the 2nd quarter valued at approximately $680,000. Captrust Financial Advisors grew its stake in shares of Tyler Technologies by 18.6% during the 2nd quarter. Captrust Financial Advisors now owns 2,906 shares of the technology company’s stock valued at $966,000 after acquiring an additional 456 shares during the period. ExodusPoint Capital Management LP bought a new position in shares of Tyler Technologies during the 2nd quarter valued at approximately $3,003,000. Goldman Sachs Group Inc. grew its stake in shares of Tyler Technologies by 101.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 157,542 shares of the technology company’s stock valued at $52,380,000 after acquiring an additional 79,289 shares during the period. Finally, Castleview Partners LLC grew its stake in shares of Tyler Technologies by 906.0% during the 2nd quarter. Castleview Partners LLC now owns 1,006 shares of the technology company’s stock valued at $87,000 after acquiring an additional 906 shares during the period. 89.42% of the stock is currently owned by institutional investors.

About Tyler Technologies

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Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. The company operates in three segments: Enterprise Software; Appraisal and Tax; and NIC. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools.

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