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

Tyler Technologies, Inc. (NYSE:TYL - Get Free Report) has been assigned an average rating of "Moderate Buy" from the thirteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $680.50.

Several equities research analysts have weighed in on the company. The Goldman Sachs Group increased their target price on Tyler Technologies from $660.00 to $728.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Cantor Fitzgerald began coverage on Tyler Technologies in a research note on Tuesday. They set a "neutral" rating and a $600.00 target price for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $750.00 target price on shares of Tyler Technologies in a research note on Tuesday, May 13th. DA Davidson decreased their target price on Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Finally, Wells Fargo & Company decreased their target price on Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd.

Tyler Technologies Stock Up 1.8%

Shares of Tyler Technologies stock traded up $10.21 on Friday, hitting $574.93. 197,800 shares of the company's stock traded hands, compared to its average volume of 261,896. The stock has a market cap of $24.79 billion, a P/E ratio of 94.87, a PEG ratio of 4.93 and a beta of 0.88. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. The firm's 50-day moving average is $561.14 and its 200 day moving average is $586.41. Tyler Technologies has a 52-week low of $458.50 and a 52-week high of $661.31.

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

Insider Transactions at Tyler Technologies

In related news, CFO Brian K. Miller sold 3,333 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $568.46, for a total value of $1,894,677.18. Following the transaction, the chief financial officer now directly owns 11,231 shares of the company's stock, valued at approximately $6,384,374.26. This trade represents a 22.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John S. Marr, Jr. sold 6,000 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $619.00, for a total value of $3,714,000.00. Following the completion of the transaction, the insider now directly owns 6,983 shares in the company, valued at $4,322,477. The trade was a 46.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,231 shares of company stock valued at $12,897,738 in the last three months. Corporate insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC grew its holdings in Tyler Technologies by 2.3% in the 4th quarter. Integrated Wealth Concepts LLC now owns 786 shares of the technology company's stock valued at $453,000 after buying an additional 18 shares during the last quarter. AdvisorNet Financial Inc grew its holdings in Tyler Technologies by 7.0% in the 1st quarter. AdvisorNet Financial Inc now owns 291 shares of the technology company's stock valued at $169,000 after buying an additional 19 shares during the last quarter. Leelyn Smith LLC grew its holdings in Tyler Technologies by 0.9% in the 1st quarter. Leelyn Smith LLC now owns 2,122 shares of the technology company's stock valued at $1,234,000 after buying an additional 19 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in Tyler Technologies by 0.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,668 shares of the technology company's stock valued at $2,115,000 after buying an additional 20 shares during the last quarter. Finally, Kensington Investment Counsel LLC grew its holdings in Tyler Technologies by 0.8% in the 4th quarter. Kensington Investment Counsel LLC now owns 2,496 shares of the technology company's stock valued at $1,439,000 after buying an additional 20 shares during the last quarter. 93.30% of the stock is owned by institutional investors.

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.