Tyler Technologies (NYSE:TYL) Cut to Hold at StockNews.com

StockNews.com cut shares of Tyler Technologies (NYSE:TYL - Free Report) from a buy rating to a hold rating in a report issued on Monday morning.

Several other equities research analysts have also recently weighed in on TYL. The Goldman Sachs Group boosted their price objective on Tyler Technologies from $660.00 to $728.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. Barclays boosted their target price on Tyler Technologies from $705.00 to $715.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. Piper Sandler raised their price target on Tyler Technologies from $701.00 to $747.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Truist Financial reaffirmed a "buy" rating and set a $775.00 price objective (up from $685.00) on shares of Tyler Technologies in a research note on Friday, February 14th. Finally, DA Davidson reissued a "neutral" rating and issued a $575.00 target price on shares of Tyler Technologies in a research note on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Tyler Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $676.25.

Tyler Technologies Price Performance

Shares of Tyler Technologies stock traded up $2.25 during trading on Monday, reaching $607.66. 325,547 shares of the stock traded hands, compared to its average volume of 244,776. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21. Tyler Technologies has a 52-week low of $397.80 and a 52-week high of $661.31. The business has a fifty day simple moving average of $598.40 and a two-hundred day simple moving average of $597.41. The company has a market capitalization of $26.14 billion, a price-to-earnings ratio of 100.27, a P/E/G ratio of 4.93 and a beta of 0.78.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.87 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.57). Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. Sell-side analysts expect that Tyler Technologies will post 8.52 EPS for the current year.

Insiders Place Their Bets

In related news, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $633.55, for a total value of $3,801,300.00. Following the completion of the sale, the insider now directly owns 6,983 shares in the company, valued at $4,424,079.65. The trade was a 46.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Brian K. Miller sold 6,752 shares of the company's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $613.75, for a total transaction of $4,144,040.00. Following the completion of the sale, the chief financial officer now directly owns 11,918 shares of the company's stock, valued at approximately $7,314,672.50. This trade represents a 36.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,766 shares of company stock worth $13,548,346 in the last three months. Corporate insiders own 2.20% of the company's stock.

Institutional Investors Weigh In On Tyler Technologies

Several large investors have recently modified their holdings of the business. Oak Thistle LLC increased its holdings in Tyler Technologies by 213.7% during the fourth quarter. Oak Thistle LLC now owns 2,328 shares of the technology company's stock valued at $1,342,000 after buying an additional 1,586 shares during the period. Aigen Investment Management LP bought a new stake in Tyler Technologies during the 3rd quarter valued at $1,309,000. Maiden Cove Capital LLC purchased a new position in shares of Tyler Technologies in the 3rd quarter valued at $583,000. Assetmark Inc. raised its position in shares of Tyler Technologies by 9.4% in the 3rd quarter. Assetmark Inc. now owns 9,910 shares of the technology company's stock worth $5,785,000 after acquiring an additional 854 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Tyler Technologies during the 3rd quarter worth $569,000. 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.