Tyler Technologies, Inc. (NYSE:TYL) Receives Consensus Rating of "Moderate Buy" from Brokerages

Shares of Tyler Technologies, Inc. (NYSE:TYL - Get Free Report) have received an average rating of "Moderate Buy" from the thirteen research firms that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $680.50.

A number of research firms have weighed in on TYL. DA Davidson cut their target price on Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Barclays dropped their price target on Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Robert W. Baird dropped their price target on Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Wells Fargo & Company dropped their price target on Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $750.00 price target on shares of Tyler Technologies in a report on Tuesday, May 13th.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 1,033 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $557.45, for a total transaction of $575,845.85. Following the sale, the chief financial officer now directly owns 13,028 shares of the company's stock, valued at $7,262,458.60. The trade was a 7.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel M. Pope sold 365 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $550.00, for a total transaction of $200,750.00. Following the sale, the director now directly owns 2,853 shares in the company, valued at approximately $1,569,150. This trade represents a 11.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,500 shares of company stock valued at $15,177,230 in the last three months. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tyler Technologies

Several institutional investors and hedge funds have recently modified their holdings of TYL. Norges Bank purchased a new position in shares of Tyler Technologies during the 4th quarter valued at $528,465,000. GAMMA Investing LLC grew its holdings in shares of Tyler Technologies by 57,694.7% during the 1st quarter. GAMMA Investing LLC now owns 878,480 shares of the technology company's stock valued at $510,739,000 after acquiring an additional 876,960 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Tyler Technologies during the 4th quarter valued at $159,947,000. Jones Financial Companies Lllp grew its holdings in shares of Tyler Technologies by 17,308.3% during the 1st quarter. Jones Financial Companies Lllp now owns 227,875 shares of the technology company's stock valued at $132,484,000 after acquiring an additional 226,566 shares in the last quarter. Finally, Wealthfront Advisers LLC grew its holdings in shares of Tyler Technologies by 8,973.6% during the 4th quarter. Wealthfront Advisers LLC now owns 154,433 shares of the technology company's stock valued at $89,052,000 after acquiring an additional 152,731 shares in the last quarter. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

Tyler Technologies Price Performance

TYL opened at $589.55 on Wednesday. The company has a market capitalization of $25.42 billion, a price-to-earnings ratio of 88.79, a price-to-earnings-growth ratio of 4.53 and a beta of 0.85. Tyler Technologies has a 1-year low of $484.05 and a 1-year high of $661.31. The business has a 50 day moving average price of $566.55 and a two-hundred day moving average price of $582.16.

Tyler Technologies (NYSE:TYL - Get Free Report) last released its earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share for the quarter, topping analysts' consensus estimates of $2.56 by $0.22. The firm had revenue of $562.43 million during the quarter, compared to the consensus estimate of $556.45 million. Tyler Technologies had a return on equity of 10.29% and a net margin of 13.23%. The firm's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.20 earnings per share. Equities analysts expect 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.

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