Tyler Technologies (NYSE:TYL) Shares Cross Above 200 Day Moving Average - What's Next?

Tyler Technologies, Inc. (NYSE:TYL - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $572.92 and traded as high as $598.20. Tyler Technologies shares last traded at $592.84, with a volume of 83,561 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TYL. Truist Financial restated a "buy" rating and set a $685.00 price objective (up from $600.00) on shares of Tyler Technologies in a report on Friday, October 25th. Piper Sandler lifted their price target on shares of Tyler Technologies from $625.00 to $701.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. JMP Securities increased their price objective on shares of Tyler Technologies from $580.00 to $700.00 and gave the company a "market outperform" rating in a research note on Friday, October 25th. StockNews.com downgraded shares of Tyler Technologies from a "buy" rating to a "hold" rating in a research report on Friday, December 6th. Finally, Needham & Company LLC increased their price target 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. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $642.62.

Tyler Technologies Trading Down 1.0 %

The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18. The firm has a market cap of $25.13 billion, a price-to-earnings ratio of 107.14, a PEG ratio of 5.54 and a beta of 0.76. The company has a 50-day moving average price of $610.17 and a 200 day moving average price of $573.05.

Tyler Technologies (NYSE:TYL - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping 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 business had revenue of $543.34 million during the quarter, compared to analyst estimates of $547.34 million. During the same period in the prior year, the firm earned $1.66 earnings per share. The firm's revenue was up 9.8% compared to the same quarter last year. As a group, research analysts anticipate that Tyler Technologies, Inc. will post 7.36 earnings per share for the current fiscal year.

Insider Activity

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,250 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $605.82, for a total transaction of $3,786,375.00. Following the transaction, the chief executive officer now directly owns 75,000 shares of the company's stock, valued at $45,436,500. This represents a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brian K. Miller sold 6,752 shares of the business's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $613.75, for a total value 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 $7,314,672.50. This represents a 36.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,252 shares of company stock worth $26,096,928 in the last ninety days. Corporate insiders own 2.20% of the company's stock.

Institutional Investors Weigh In On Tyler Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. HB Wealth Management LLC lifted its stake in shares of Tyler Technologies by 13.0% in the second quarter. HB Wealth Management LLC now owns 949 shares of the technology company's stock worth $477,000 after buying an additional 109 shares during the last quarter. Arkadios Wealth Advisors increased its stake in shares of Tyler Technologies by 2.8% in the second quarter. Arkadios Wealth Advisors now owns 1,416 shares of the technology company's stock worth $712,000 after purchasing an additional 38 shares during the period. UMB Bank n.a. increased its stake in shares of Tyler Technologies by 3.7% in the second quarter. UMB Bank n.a. now owns 1,322 shares of the technology company's stock worth $665,000 after purchasing an additional 47 shares during the period. Signaturefd LLC boosted its stake in Tyler Technologies by 18.0% during the 2nd quarter. Signaturefd LLC now owns 524 shares of the technology company's stock valued at $263,000 after purchasing an additional 80 shares during the period. Finally, iA Global Asset Management Inc. bought a new stake in Tyler Technologies during the 2nd quarter valued at approximately $330,000. 93.30% of the stock is currently owned by institutional investors and hedge funds.

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.