Tyler Technologies' (TYL) "Buy" Rating Reaffirmed at DA Davidson

Key Points

• DA Davidson reaffirmed a "Buy" rating on Tyler Technologies with a $460 target, implying about a 42.9% upside from the current price.
• Tyler recently missed quarterly estimates—EPS $2.64 vs. $2.71 and revenue $575.18M vs. $591.09M—and its shares trade around $321.82 with a market cap of $13.66B and a P/E of ~44.7.
• Analysts remain generally positive overall (12 Buys vs. 3 Holds) with an average price target of $463.69, though several firms (TD Cowen, Wells Fargo, Oppenheimer) have trimmed their targets recently.

Tyler Technologies (NYSE:TYL - Get Free Report)'s stock had its "buy" rating reaffirmed by DA Davidson in a report released on Tuesday,Benzinga reports. They currently have a $460.00 target price on the technology company's stock. DA Davidson's target price points to a potential upside of 42.94% from the company's current price.

A number of other brokerages also recently weighed in on TYL. TD Cowen lowered their price objective on shares of Tyler Technologies from $600.00 to $500.00 and set a "buy" rating on the stock in a research report on Friday, February 13th. Wells Fargo & Company lowered their price objective on shares of Tyler Technologies from $420.00 to $335.00 and set an "equal weight" rating on the stock in a research report on Friday, February 13th. The Goldman Sachs Group set a $420.00 price objective on shares of Tyler Technologies in a research report on Friday, February 13th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tyler Technologies in a report on Friday, January 9th. Finally, Oppenheimer reduced their target price on shares of Tyler Technologies from $510.00 to $450.00 and set an "outperform" rating for the company in a report on Friday, February 13th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $463.69.

Tyler Technologies Stock Performance

Shares of NYSE TYL traded up $0.97 during trading hours on Tuesday, hitting $321.82. The company's stock had a trading volume of 249,996 shares, compared to its average volume of 636,617. The stock has a market cap of $13.66 billion, a price-to-earnings ratio of 44.71, a P/E/G ratio of 2.13 and a beta of 0.92. Tyler Technologies has a 12 month low of $283.71 and a 12 month high of $621.34. The business has a 50-day simple moving average of $339.16 and a 200-day simple moving average of $421.75.

Tyler Technologies (NYSE:TYL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The technology company reported $2.64 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.07). Tyler Technologies had a return on equity of 10.42% and a net margin of 13.53%.The company had revenue of $575.18 million during the quarter, compared to analysts' expectations of $591.09 million. During the same quarter last year, the business earned $2.43 earnings per share. The business's quarterly revenue was up 6.3% on a year-over-year basis. On average, equities research analysts forecast that Tyler Technologies will post 8.52 EPS for the current year.

Insider Transactions at Tyler Technologies

In related news, Director Andrew D. Teed bought 1,600 shares of the stock in a transaction dated Monday, February 23rd. The shares were purchased at an average price of $309.91 per share, with a total value of $495,856.00. Following the completion of the acquisition, the director owned 5,118 shares of the company's stock, valued at $1,586,119.38. This represents a 45.48% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey David Puckett sold 5,174 shares of the business's stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $369.93, for a total transaction of $1,914,017.82. Following the completion of the transaction, the chief operating officer directly owned 7,754 shares in the company, valued at $2,868,437.22. This trade represents a 40.02% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 7,298 shares of company stock valued at $2,658,721. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Corient Private Wealth LLC lifted its position in shares of Tyler Technologies by 18.0% during the fourth quarter. Corient Private Wealth LLC now owns 4,857 shares of the technology company's stock worth $2,209,000 after purchasing an additional 741 shares during the last quarter. Redwood Family Wealth LLC bought a new stake in shares of Tyler Technologies during the fourth quarter worth $659,000. Bayban bought a new stake in shares of Tyler Technologies during the fourth quarter worth $30,000. Pacer Advisors Inc. raised its stake in shares of Tyler Technologies by 21.1% during the fourth quarter. Pacer Advisors Inc. now owns 31,252 shares of the technology company's stock valued at $14,187,000 after acquiring an additional 5,451 shares in the last quarter. Finally, Virtu Financial LLC raised its stake in shares of Tyler Technologies by 19.6% during the fourth quarter. Virtu Financial LLC now owns 874 shares of the technology company's stock valued at $396,000 after acquiring an additional 143 shares in the last quarter. 93.30% of the stock is owned by hedge funds and other institutional investors.

About Tyler Technologies

Tyler Technologies, Inc is a provider of software and technology services for the public sector, delivering integrated systems that help government and public agencies manage operations, finances and citizen services. Headquartered in Plano, Texas, the company focuses on developing and implementing solutions for local and state governments, school districts, courts and public safety organizations. Its offerings are aimed at modernizing administrative workflows, improving transparency and enabling digital interactions between governments and the communities they serve.

Tyler's product portfolio spans enterprise resource planning and financial management, tax and billing systems, court case and records management, public safety solutions (including computer-aided dispatch and records management), land and property management, permitting and licensing, and enterprise asset management.

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