Tyler Technologies (NYSE:TYL) Raised to "Buy" at StockNews.com

Tyler Technologies (NYSE:TYL - Get Free Report) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

A number of other analysts have also commented on the stock. Wells Fargo & Company reduced their price objective on shares of 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. The Goldman Sachs Group increased their price target on Tyler Technologies from $660.00 to $728.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. 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 report 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. Finally, DA Davidson lowered 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. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Tyler Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $674.67.

Tyler Technologies Trading Up 1.6%

TYL stock traded up $9.27 during midday trading on Friday, reaching $571.27. 42,191 shares of the company's stock traded hands, compared to its average volume of 259,437. The company has a market capitalization of $24.64 billion, a P/E ratio of 94.29, a PEG ratio of 4.93 and a beta of 0.88. 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 business has a 50-day moving average price of $560.95 and a two-hundred day moving average price of $590.20.

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 firm had revenue of $562.43 million for the quarter, compared to analysts' expectations of $556.45 million. Tyler Technologies had a net margin of 12.30% and a return on equity of 10.15%. The firm's quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.20 earnings per share. Equities research analysts forecast that Tyler Technologies will post 8.52 EPS for the current fiscal year.

Insider Activity

In other news, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction dated Thursday, March 6th. The stock was 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 in the company, valued at $4,322,477. The trade was a 46.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel M. Pope sold 365 shares of the business'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 completion of the sale, the director now owns 2,853 shares in the company, valued at $1,569,150. The trade was a 11.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,462 shares of company stock worth $12,258,926 in the last 90 days. Corporate insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On Tyler Technologies

Several institutional investors have recently bought and sold shares of TYL. Larson Financial Group LLC lifted its stake in Tyler Technologies by 221.4% in the 4th quarter. Larson Financial Group LLC now owns 45 shares of the technology company's stock valued at $26,000 after acquiring an additional 31 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new position in shares of Tyler Technologies during the 1st quarter worth approximately $26,000. Mowery & Schoenfeld Wealth Management LLC increased its holdings in shares of Tyler Technologies by 820.0% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 46 shares of the technology company's stock worth $27,000 after acquiring an additional 41 shares during the last quarter. Sierra Ocean LLC acquired a new position in shares of Tyler Technologies during the 4th quarter worth approximately $32,000. Finally, Brown Brothers Harriman & Co. increased its holdings in shares of Tyler Technologies by 300.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 56 shares of the technology company's stock worth $32,000 after acquiring an additional 42 shares during the last quarter. Institutional investors own 93.30% of the company's stock.

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.