Tyler Technologies (NYSE:TYL) Downgraded to Hold Rating by StockNews.com

StockNews.com lowered shares of Tyler Technologies (NYSE:TYL - Free Report) from a buy rating to a hold rating in a report published on Friday.

Several other brokerages also recently weighed in on TYL. Robert W. Baird cut their target price on shares of Tyler Technologies from $785.00 to $700.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Needham & Company LLC reiterated a "buy" rating and set a $750.00 price objective on shares of Tyler Technologies in a research note on Thursday, April 24th. Wells Fargo & Company reduced their price objective on Tyler Technologies from $640.00 to $610.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. DA Davidson decreased their price target on shares of Tyler Technologies from $595.00 to $570.00 and set a "neutral" rating for the company in a report on Friday, April 25th. Finally, The Goldman Sachs Group increased their price objective on shares of Tyler Technologies from $660.00 to $728.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $674.67.

Tyler Technologies Stock Performance

TYL traded up $7.65 on Friday, hitting $560.32. 8,148 shares of the company traded hands, compared to its average volume of 257,402. Tyler Technologies has a 12-month low of $458.50 and a 12-month high of $661.31. The company has a 50 day moving average of $566.45 and a 200-day moving average of $591.47. 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 stock has a market capitalization of $24.16 billion, a PE ratio of 92.43, a PEG ratio of 4.93 and a beta of 0.88.

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

Insider Activity

In other Tyler Technologies news, CEO H Lynn Moore, Jr. sold 6,514 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 75,734 shares of the company's stock, valued at approximately $46,772,561.06. This trade represents a 7.92 % 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 6,000 shares of the business'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 transaction of $3,714,000.00. Following the transaction, the insider now owns 6,983 shares of the company's stock, valued at approximately $4,322,477. This represents a 46.21 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,429 shares of company stock worth $8,888,780. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tyler Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TYL. Integrated Wealth Concepts LLC raised its position 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 lifted its position in shares of Tyler Technologies by 7.0% in the first quarter. AdvisorNet Financial Inc now owns 291 shares of the technology company's stock worth $169,000 after purchasing an additional 19 shares in the last quarter. Leelyn Smith LLC boosted its holdings in 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 purchasing an additional 19 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in Tyler Technologies by 0.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,668 shares of the technology company's stock valued at $2,115,000 after purchasing an additional 20 shares in the last quarter. Finally, Kensington Investment Counsel LLC increased its stake 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 and hedge funds.

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.