Tyler Technologies (NYSE:TYL) Upgraded to "Buy" at StockNews.com

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

TYL has been the topic of several other research reports. Needham & Company LLC boosted their price target on shares of Tyler Technologies from $600.00 to $700.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. Truist Financial reaffirmed a "buy" rating and set a $685.00 target price (up previously from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Robert W. Baird upped their target price on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. Piper Sandler upped their target price on shares of Tyler Technologies from $625.00 to $701.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. Finally, DA Davidson upped their target price on shares of Tyler Technologies from $525.00 to $550.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $642.62.

Tyler Technologies Stock Up 1.0 %

Shares of Tyler Technologies stock traded up $6.34 during trading hours on Tuesday, reaching $619.57. The company's stock had a trading volume of 234,655 shares, compared to its average volume of 229,646. Tyler Technologies has a one year low of $397.80 and a one year high of $631.43. The company has a market capitalization of $26.52 billion, a P/E ratio of 111.88, a P/E/G ratio of 5.62 and a beta of 0.77. The stock's fifty day simple moving average is $591.43 and its two-hundred day simple moving average is $543.44. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.21.

Tyler Technologies (NYSE:TYL - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share 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 business had revenue of $543.34 million for the quarter, compared to analysts' expectations of $547.34 million. During the same period in the previous year, the company earned $1.66 earnings per share. The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. On average, research analysts forecast that Tyler Technologies will post 7.39 earnings per share for the current year.

Insider Buying and Selling

In related news, insider John S. Marr, Jr. sold 5,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $578.94, for a total transaction of $2,894,700.00. Following the sale, the insider now directly owns 6,983 shares of the company's stock, valued at approximately $4,042,738.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider John S. Marr, Jr. sold 5,000 shares of the firm's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $578.94, for a total transaction of $2,894,700.00. Following the sale, the insider now owns 6,983 shares of the company's stock, valued at $4,042,738.02. This trade represents a 0.00 % 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 the firm's stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $586.97, for a total transaction of $1,467,425.00. Following the sale, the chief financial officer now directly owns 11,950 shares in the company, valued at approximately $7,014,291.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,600 shares of company stock worth $19,307,295 in the last three months. 2.20% of the stock is owned by corporate insiders.

Institutional Trading of Tyler Technologies

A number of institutional investors have recently made changes to their positions in the stock. Cerity Partners LLC boosted its holdings in shares of Tyler Technologies by 60.6% in the third quarter. Cerity Partners LLC now owns 3,847 shares of the technology company's stock worth $2,246,000 after buying an additional 1,451 shares during the last quarter. Nicolet Advisory Services LLC boosted its holdings in shares of Tyler Technologies by 5.4% in the third quarter. Nicolet Advisory Services LLC now owns 1,690 shares of the technology company's stock worth $983,000 after buying an additional 87 shares during the last quarter. Meridian Wealth Management LLC purchased a new position in shares of Tyler Technologies in the third quarter worth approximately $442,000. Icon Wealth Advisors LLC boosted its holdings in shares of Tyler Technologies by 151.1% in the third quarter. Icon Wealth Advisors LLC now owns 3,799 shares of the technology company's stock worth $2,218,000 after buying an additional 2,286 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Tyler Technologies by 4.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 904,175 shares of the technology company's stock worth $527,785,000 after buying an additional 36,066 shares during the last quarter. 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.