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

Tyler Technologies, Inc. (NYSE:TYL) has been given a consensus recommendation of “Moderate Buy” by the fifteen research firms that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $467.5385.

TYL has been the topic of a number of research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Tyler Technologies in a research report on Friday, January 9th. Barclays decreased their target price on Tyler Technologies from $715.00 to $410.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. The Goldman Sachs Group set a $420.00 price target on Tyler Technologies in a report on Friday, February 13th. DA Davidson reissued a “buy” rating and set a $460.00 price objective on shares of Tyler Technologies in a report on Tuesday, February 17th. Finally, TD Cowen lowered their price objective on shares of Tyler Technologies from $600.00 to $500.00 and set a “buy” rating for the company in a research report on Friday, February 13th.

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, Director Glenn A. Carter sold 500 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $458.73, for a total transaction of $229,365.00. Following the transaction, the director owned 3,172 shares of the company’s stock, valued at approximately $1,455,091.56. This represents a 13.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel M. Pope sold 500 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $355.40, for a total value of $177,700.00. Following the completion of the transaction, the director owned 2,871 shares in the company, valued at $1,020,353.40. The trade was a 14.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,000 shares of company stock worth $1,314,225 over the last ninety days. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TYL. General American Investors Co. Inc. lifted its stake in shares of Tyler Technologies by 7.2% in the 3rd quarter. General American Investors Co. Inc. now owns 44,381 shares of the technology company’s stock valued at $23,218,000 after purchasing an additional 3,000 shares during the period. Lazard Freres Gestion S.A.S. grew its stake in shares of Tyler Technologies by 150.0% during the third quarter. Lazard Freres Gestion S.A.S. now owns 5,000 shares of the technology company’s stock worth $2,615,000 after purchasing an additional 3,000 shares during the period. ICICI Prudential Asset Management Co Ltd bought a new stake in Tyler Technologies in the third quarter valued at about $2,111,000. Principal Financial Group Inc. increased its holdings in Tyler Technologies by 11.4% in the third quarter. Principal Financial Group Inc. now owns 1,410,640 shares of the technology company’s stock valued at $738,010,000 after purchasing an additional 144,612 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Tyler Technologies by 4.9% in the third quarter. Envestnet Asset Management Inc. now owns 172,932 shares of the technology company’s stock valued at $90,471,000 after buying an additional 8,126 shares during the period. 93.30% of the stock is currently owned by institutional investors and hedge funds.

Tyler Technologies Stock Up 2.6%

Shares of Tyler Technologies stock opened at $375.29 on Monday. Tyler Technologies has a 12-month low of $283.71 and a 12-month high of $621.34. The stock has a market capitalization of $16.13 billion, a P/E ratio of 52.12, a price-to-earnings-growth ratio of 2.52 and a beta of 0.90. The company has a 50-day simple moving average of $387.95 and a 200 day simple moving average of $459.68.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, February 11th. The technology company reported $2.64 EPS for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.07). Tyler Technologies had a net margin of 13.53% and a return on equity of 10.42%. The firm had revenue of $575.18 million during the quarter, compared to analyst estimates of $591.09 million. During the same quarter last year, the firm earned $2.43 earnings per share. Tyler Technologies’s quarterly revenue was up 6.3% on a year-over-year basis. On average, equities analysts anticipate that Tyler Technologies will post 8.52 earnings per share for the current year.

About Tyler Technologies

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler’s product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.