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

Tyler Technologies (NYSE:TYL - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Monday.

Other research analysts have also recently issued research reports about the stock. Barclays upped their target price on shares of Tyler Technologies from $700.00 to $705.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. JMP Securities upped their target price on shares of Tyler Technologies from $580.00 to $700.00 and gave the company a "market outperform" rating in a research report on Friday, October 25th. Oppenheimer increased their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. Wells Fargo & Company increased their price target on shares of Tyler Technologies from $580.00 to $600.00 and gave the stock an "overweight" rating in a research report on Friday, July 26th. Finally, Piper Sandler increased their price target on shares of Tyler Technologies from $625.00 to $701.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $642.62.

Tyler Technologies Trading Down 0.4 %

Shares of TYL traded down $2.14 during mid-day trading on Monday, reaching $600.61. The stock had a trading volume of 150,010 shares, compared to its average volume of 228,285. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. Tyler Technologies has a 52-week low of $397.80 and a 52-week high of $631.43. The business's fifty day moving average is $588.09 and its 200 day moving average is $535.35. The firm has a market cap of $25.71 billion, a price-to-earnings ratio of 109.60, a P/E/G ratio of 5.46 and a beta of 0.77.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.52 EPS for the quarter, beating analysts' consensus estimates of $2.43 by $0.09. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The company had revenue of $543.34 million for the quarter, compared to analysts' expectations of $547.34 million. During the same quarter in the prior year, the company posted $1.66 earnings per share. Tyler Technologies's revenue for the quarter was up 9.8% compared to the same quarter last year. On average, sell-side analysts predict that Tyler Technologies will post 7.39 EPS for the current fiscal year.

Insider Transactions at Tyler Technologies

In other news, CFO Brian K. Miller sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $567.96, for a total transaction of $1,135,920.00. Following the completion of the transaction, the chief financial officer now directly owns 11,950 shares of the company's stock, valued at approximately $6,787,122. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Brian K. Miller sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, August 7th. The stock was 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 approximately $6,787,122. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John S. Marr, Jr. sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $578.94, for a total value of $2,894,700.00. Following the completion of the sale, the insider now directly owns 6,983 shares in the company, valued at approximately $4,042,738.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,100 shares of company stock worth $16,890,717. Insiders own 2.20% of the company's stock.

Institutional Investors Weigh In On Tyler Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of TYL. Independence Bank of Kentucky acquired a new stake in Tyler Technologies in the 2nd quarter valued at $25,000. Ashton Thomas Securities LLC bought a new stake in shares of Tyler Technologies in the 3rd quarter worth about $27,000. Covestor Ltd increased its position in shares of Tyler Technologies by 153.6% in the 1st quarter. Covestor Ltd now owns 71 shares of the technology company's stock worth $30,000 after purchasing an additional 43 shares during the last quarter. Blue Trust Inc. increased its position in shares of Tyler Technologies by 329.4% in the 2nd quarter. Blue Trust Inc. now owns 73 shares of the technology company's stock worth $37,000 after purchasing an additional 56 shares during the last quarter. Finally, Lynx Investment Advisory bought a new stake in shares of Tyler Technologies during the 2nd quarter valued at about $38,000. Hedge funds and other institutional investors own 93.30% of the company's stock.

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.

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