DA Davidson Cuts Tyler Technologies (NYSE:TYL) Price Target to $560.00

Key Points

• DA Davidson has lowered its price target for Tyler Technologies from $585 to $560, maintaining a "neutral" rating, which suggests a potential upside of 10.48% from current levels.
• Tyler Technologies reported earnings of $2.91 per share for the last quarter, exceeding analysts' expectations, but its revenue was slightly below estimates, indicating steady growth amid market expectations.
• Insider activity shows that CEO H Lynn Moore, Jr. sold 5,250 shares of the company's stock, decreasing his ownership stake by 6.03%, which may raise concerns among investors about insider confidence.

Tyler Technologies (NYSE:TYL - Get Free Report) had its price target lowered by investment analysts at DA Davidson from $585.00 to $560.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the technology company's stock. DA Davidson's price objective indicates a potential upside of 10.48% from the company's current price.

Other equities analysts also recently issued reports about the company. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Tyler Technologies in a research note on Saturday, September 27th. Barclays raised their price objective on Tyler Technologies from $695.00 to $715.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Finally, UBS Group reaffirmed an "overweight" rating on shares of Tyler Technologies in a research note on Wednesday. Nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Tyler Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $686.00.

Tyler Technologies Trading Down 2.1%

Tyler Technologies stock opened at $506.86 on Friday. Tyler Technologies has a twelve month low of $483.56 and a twelve month high of $661.31. The stock has a 50 day moving average of $550.40 and a two-hundred day moving average of $561.48. The stock has a market capitalization of $21.93 billion, a price-to-earnings ratio of 72.41, a PEG ratio of 3.97 and a beta of 0.89.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its earnings results on Wednesday, July 30th. The technology company reported $2.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.78 by $0.13. The business had revenue of $584.01 million during the quarter, compared to the consensus estimate of $587.59 million. Tyler Technologies had a return on equity of 10.34% and a net margin of 13.66%.The company's revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.40 EPS. Tyler Technologies has set its FY 2025 guidance at 11.200-11.500 EPS. Equities analysts predict that Tyler Technologies will post 8.52 earnings per share for the current year.

Insider Activity at Tyler Technologies

In related news, CEO H Lynn Moore, Jr. sold 5,250 shares of Tyler Technologies stock in a transaction on Monday, August 11th. The stock was sold at an average price of $588.89, for a total value of $3,091,672.50. Following the transaction, the chief executive officer owned 81,775 shares in the company, valued at approximately $48,156,479.75. This trade represents a 6.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John S. Marr, Jr. sold 4,250 shares of Tyler Technologies stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $555.53, for a total value of $2,361,002.50. Following the completion of the transaction, the insider owned 6,983 shares in the company, valued at $3,879,265.99. The trade was a 37.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,500 shares of company stock worth $11,148,043. 1.10% of the stock is owned by insiders.

Institutional Trading of Tyler Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Leelyn Smith LLC increased its position in shares of Tyler Technologies by 0.9% during the first quarter. Leelyn Smith LLC now owns 2,122 shares of the technology company's stock worth $1,234,000 after acquiring an additional 19 shares during the last quarter. Mather Group LLC. increased its position in shares of Tyler Technologies by 5.3% during the second quarter. Mather Group LLC. now owns 379 shares of the technology company's stock worth $225,000 after acquiring an additional 19 shares during the last quarter. Meridian Wealth Management LLC increased its holdings in Tyler Technologies by 2.1% in the second quarter. Meridian Wealth Management LLC now owns 942 shares of the technology company's stock valued at $558,000 after buying an additional 19 shares during the last quarter. Cerity Partners LLC increased its holdings in Tyler Technologies by 0.6% in the second quarter. Cerity Partners LLC now owns 2,959 shares of the technology company's stock valued at $1,754,000 after buying an additional 19 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in Tyler Technologies by 0.6% in the second quarter. Nordea Investment Management AB now owns 3,537 shares of the technology company's stock valued at $2,068,000 after buying an additional 20 shares during the last quarter. 93.30% of the stock is owned by hedge funds and other institutional investors.

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.

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