DA Davidson Reaffirms Buy Rating for Tyler Technologies (NYSE:TYL)

Key Points

• DA Davidson reaffirmed its Buy rating on Tyler Technologies and set a $460 price target, implying about 55.6% upside from the previous close.
• Tyler Technologies reported better-than-expected quarterly results, with EPS of $3.09 and revenue of $613.5 million, both topping analyst estimates; revenue rose 8.5% year over year.
• The stock fell 4.5% to $295.61 despite the analyst optimism, and the company still has a Moderate Buy consensus from analysts with a consensus price target of $468.53.

Tyler Technologies (NYSE:TYL - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at DA Davidson in a note issued to investors on Wednesday,Benzinga reports. They presently have a $460.00 price target on the technology company's stock. DA Davidson's price objective suggests a potential upside of 55.61% from the company's previous close.

A number of other equities analysts also recently issued reports on the stock. Needham & Company LLC reissued a "buy" rating and issued a $750.00 price objective on shares of Tyler Technologies in a report on Tuesday, February 3rd. TD Cowen dropped their price objective on shares of Tyler Technologies from $600.00 to $500.00 and set a "buy" rating on the stock in a report on Friday, February 13th. Barclays raised their price objective on shares of Tyler Technologies from $410.00 to $420.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. The Goldman Sachs Group set a $420.00 price objective on shares of Tyler Technologies in a report on Friday, February 13th. Finally, Robert W. Baird set a $455.00 price objective on shares of Tyler Technologies in a report on Friday, May 1st. Twelve research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $468.53.

Tyler Technologies Stock Down 4.5%

Shares of NYSE:TYL traded down $14.04 on Wednesday, hitting $295.61. The company had a trading volume of 435,130 shares, compared to its average volume of 635,876. The firm's 50-day simple moving average is $340.93 and its two-hundred day simple moving average is $398.49. Tyler Technologies has a 1 year low of $283.71 and a 1 year high of $621.34. The firm has a market capitalization of $12.47 billion, a price-to-earnings ratio of 40.77, a P/E/G ratio of 2.11 and a beta of 0.86.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The technology company reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.01 by $0.08. The company had revenue of $613.50 million during the quarter, compared to analyst estimates of $608.66 million. Tyler Technologies had a net margin of 13.26% and a return on equity of 10.74%. Tyler Technologies's quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the business earned $2.78 EPS. Tyler Technologies has set its FY 2026 guidance at 12.500-12.750 EPS. Equities research analysts anticipate that Tyler Technologies will post 9.89 EPS for the current year.

Insider Transactions at Tyler Technologies

In other news, COO Jeffrey David Puckett sold 5,174 shares of the business's stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $369.93, for a total transaction of $1,914,017.82. Following the sale, the chief operating officer directly owned 7,754 shares of the company's stock, valued at $2,868,437.22. The trade was a 40.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Glenn A. Carter sold 1,624 shares of the business's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $349.14, for a total transaction of $567,003.36. Following the sale, the director directly owned 5,298 shares in the company, valued at $1,849,743.72. This trade represents a 23.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 7,298 shares of company stock worth $2,658,721. Company insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TYL. Cerity Partners LLC boosted its stake in Tyler Technologies by 0.6% in the 2nd quarter. Cerity Partners LLC now owns 2,959 shares of the technology company's stock valued at $1,754,000 after purchasing an additional 19 shares during the period. Coldstream Capital Management Inc. lifted its position in shares of Tyler Technologies by 2.0% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,167 shares of the technology company's stock valued at $611,000 after acquiring an additional 23 shares during the period. Citizens Financial Group Inc. RI grew its holdings in shares of Tyler Technologies by 5.8% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 435 shares of the technology company's stock worth $228,000 after purchasing an additional 24 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its stake in Tyler Technologies by 0.8% in the third quarter. Mesirow Financial Investment Management Inc. now owns 3,008 shares of the technology company's stock valued at $1,573,000 after purchasing an additional 25 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its position in Tyler Technologies by 35.5% during the third quarter. Brown Brothers Harriman & Co. now owns 103 shares of the technology company's stock worth $54,000 after purchasing an additional 27 shares during the period. 93.30% of the stock is owned by institutional investors and hedge funds.

About Tyler Technologies

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler's product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.

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