Cantor Fitzgerald Initiates Coverage on Tyler Technologies (NYSE:TYL)

Cantor Fitzgerald started coverage on shares of Tyler Technologies (NYSE:TYL - Free Report) in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. The brokerage issued a neutral rating and a $600.00 price objective on the technology company's stock.

A number of other equities research analysts have also weighed in on the stock. Piper Sandler lowered their price target on shares of Tyler Technologies from $747.00 to $708.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Truist Financial reaffirmed a "buy" rating and set a $775.00 target price (up from $685.00) on shares of Tyler Technologies in a research report on Friday, February 14th. Wall Street Zen downgraded Tyler Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Needham & Company LLC restated a "buy" rating and set a $750.00 price objective on shares of Tyler Technologies in a report on Tuesday, May 13th. Finally, Barclays reduced their target price on Tyler Technologies from $700.00 to $695.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, Tyler Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $680.50.

Tyler Technologies Stock Up 0.8%

NYSE TYL traded up $4.74 during trading hours on Tuesday, hitting $578.75. The company had a trading volume of 353,468 shares, compared to its average volume of 263,586. The firm's 50 day moving average is $561.06 and its 200 day moving average is $586.32. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.21. Tyler Technologies has a fifty-two week low of $458.50 and a fifty-two week high of $661.31. The company has a market capitalization of $24.96 billion, a price-to-earnings ratio of 95.50, a P/E/G ratio of 4.93 and a beta of 0.88.

Tyler Technologies (NYSE:TYL - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $2.78 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 the consensus estimate of $556.45 million. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The company's revenue was up 10.3% on a year-over-year basis. During the same period last year, the business posted $2.20 EPS. Sell-side analysts anticipate that Tyler Technologies will post 8.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 3,333 shares of the firm's stock in a transaction dated Friday, May 23rd. The shares were 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 owns 11,231 shares of the company's stock, valued at $6,384,374.26. This trade represents a 22.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daniel M. Pope sold 365 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $550.00, for a total value of $200,750.00. Following the transaction, the director now directly owns 2,853 shares of the company's stock, valued at $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 sold a total of 22,231 shares of company stock worth $12,897,738 over the last 90 days. Insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On Tyler Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Tyler Technologies by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 5,459,163 shares of the technology company's stock worth $3,173,903,000 after acquiring an additional 148,762 shares during the period. Geode Capital Management LLC increased its stake in shares of 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 valued at $654,406,000 after purchasing an additional 27,826 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Tyler Technologies by 6.3% in 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 period. Franklin Resources Inc. raised 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 buying an additional 71,869 shares during the last quarter. Finally, Norges Bank bought a new position in Tyler Technologies in the 4th quarter worth approximately $528,465,000. 93.30% of the stock is currently owned by institutional investors.

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.