Tyler Technologies (NYSE:TYL) Rating Lowered to Hold at 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 research report issued on Friday.

A number of other research analysts have also recently commented on the stock. 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. Needham & Company LLC increased their price objective on shares of Tyler Technologies from $600.00 to $700.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Barclays boosted their price objective on Tyler Technologies from $700.00 to $705.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Oppenheimer raised their target price on Tyler Technologies from $625.00 to $700.00 and gave the company an "outperform" rating in a report on Friday, October 25th. Finally, Robert W. Baird boosted their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Tyler Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $642.62.

Tyler Technologies Price Performance

NYSE TYL traded down $7.58 during mid-day trading on Friday, hitting $623.15. The stock had a trading volume of 196,958 shares, compared to its average volume of 234,515. The firm's 50 day moving average is $603.88 and its 200 day moving average is $560.21. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.21 and a quick ratio of 1.21. The stock has a market capitalization of $26.67 billion, a price-to-earnings ratio of 113.71, a PEG ratio of 5.64 and a beta of 0.76. Tyler Technologies has a twelve month low of $397.80 and a twelve month high of $638.56.

Tyler Technologies (NYSE:TYL - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.09. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The firm had revenue of $543.34 million during the quarter, compared to analysts' expectations of $547.34 million. During the same period last year, the business earned $1.66 earnings per share. Tyler Technologies's revenue was up 9.8% compared to the same quarter last year. Equities research analysts forecast that Tyler Technologies will post 7.36 earnings per share for the current fiscal year.

Insider Transactions at Tyler Technologies

In other news, CEO H Lynn Moore, Jr. sold 3,250 shares of Tyler Technologies stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $631.41, for a total value of $2,052,082.50. Following the transaction, the chief executive officer now directly owns 75,000 shares of the company's stock, valued at $47,355,750. The trade was a 4.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brian K. Miller sold 2,500 shares of Tyler Technologies stock in a transaction on Friday, November 8th. The shares were sold at an average price of $624.41, for a total transaction of $1,561,025.00. Following the completion of the transaction, the chief financial officer now owns 11,950 shares in the company, valued at approximately $7,461,699.50. This represents a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,500 shares of company stock worth $27,790,888. 2.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tyler Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in TYL. Franklin Resources Inc. raised its position in Tyler Technologies by 2.0% in the third quarter. Franklin Resources Inc. now owns 912,746 shares of the technology company's stock worth $547,354,000 after acquiring an additional 17,943 shares in the last quarter. Tidal Investments LLC boosted its position in Tyler Technologies by 11.2% during the third quarter. Tidal Investments LLC now owns 2,412 shares of the technology company's stock worth $1,408,000 after purchasing an additional 243 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Tyler Technologies in the third quarter valued at $651,000. Sanctuary Advisors LLC lifted its stake in Tyler Technologies by 411.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 13,716 shares of the technology company's stock valued at $8,354,000 after buying an additional 11,032 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Tyler Technologies during the 3rd quarter valued at $1,825,000. Hedge funds and other institutional investors own 93.30% of the company's stock.

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.