Tyler Technologies, Inc. (NYSE:TYL) Given Average Recommendation of "Moderate Buy" by Analysts

Shares of Tyler Technologies, Inc. (NYSE:TYL - Get Free Report) have been given a consensus rating of "Moderate Buy" by the thirteen research firms that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $674.67.

A number of research analysts have recently issued reports on the company. Piper Sandler reduced their price objective on Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. StockNews.com raised Tyler Technologies from a "hold" rating to a "buy" rating in a research note on Saturday. 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. Needham & Company LLC reaffirmed a "buy" rating and set a $750.00 price objective on shares of Tyler Technologies in a research note on Thursday, April 24th. Finally, Barclays reduced their price objective on Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th.

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,514 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $617.59, for a total value of $4,022,981.26. Following the completion of the sale, the chief executive officer now directly owns 75,734 shares in the company, valued at $46,772,561.06. This trade represents a 7.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Brian K. Miller sold 1,033 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $557.45, for a total transaction of $575,845.85. Following the completion of the sale, the chief financial officer now owns 13,028 shares of the company's stock, valued at $7,262,458.60. This trade represents a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,462 shares of company stock worth $9,464,626. Company insiders own 1.10% of the company's stock.

Institutional Trading of Tyler Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Tyler Technologies by 2.8% in the first quarter. Vanguard Group Inc. now owns 5,459,163 shares of the technology company's stock worth $3,173,903,000 after buying an additional 148,762 shares during the period. Geode Capital Management LLC lifted its holdings in Tyler Technologies by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 1,136,734 shares of the technology company's stock worth $654,406,000 after buying an additional 27,826 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Tyler Technologies by 6.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 998,927 shares of the technology company's stock valued at $580,766,000 after purchasing an additional 59,554 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Tyler Technologies by 7.9% during the fourth quarter. Franklin Resources Inc. now owns 984,615 shares of the technology company's stock valued at $567,768,000 after purchasing an additional 71,869 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Tyler Technologies during the fourth quarter valued at approximately $528,465,000. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Tyler Technologies Price Performance

TYL traded down $2.75 during trading on Tuesday, reaching $560.06. The stock had a trading volume of 191,735 shares, compared to its average volume of 258,633. The stock has a market cap of $24.15 billion, a PE ratio of 92.42, a PEG ratio of 4.93 and a beta of 0.88. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.21 and a current ratio of 1.35. Tyler Technologies has a one year low of $458.50 and a one year high of $661.31. The business has a 50-day moving average of $563.43 and a 200-day moving average of $590.82.

Tyler Technologies (NYSE:TYL - Get Free Report) last released its earnings results on Wednesday, April 23rd. The technology company reported $2.78 EPS for the quarter, beating analysts' consensus estimates of $2.56 by $0.22. The business had revenue of $562.43 million for the quarter, compared to analysts' expectations of $556.45 million. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The firm's revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.20 earnings per share. As a group, equities research analysts anticipate that Tyler Technologies will post 8.52 EPS for the current fiscal year.

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.