Tyler Technologies (NYSE:TYL) Given “Buy” Rating at DA Davidson

by · The Markets Daily

Tyler Technologies (NYSE:TYL – Get Free Report)‘s stock had its “buy” rating restated by stock analysts at DA Davidson in a report issued on Tuesday,Benzinga reports. They currently have a $460.00 price target on the technology company’s stock. DA Davidson’s target price suggests a potential upside of 47.20% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. TD Cowen decreased their price objective on Tyler Technologies from $600.00 to $500.00 and set a “buy” rating on the stock in a report on Friday. Robert W. Baird set a $440.00 price objective on shares of Tyler Technologies in a report on Friday. Needham & Company LLC restated a “buy” rating and issued a $750.00 target price on shares of Tyler Technologies in a report on Tuesday, February 3rd. Wells Fargo & Company cut their price target on shares of Tyler Technologies from $420.00 to $335.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, Evercore reissued a “positive” rating on shares of Tyler Technologies in a research note on Friday, October 31st. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Tyler Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $467.54.

View Our Latest Analysis on TYL

Tyler Technologies Stock Up 2.8%

Shares of TYL traded up $8.57 during trading hours on Tuesday, reaching $312.51. 511,960 shares of the company traded hands, compared to its average volume of 690,703. The stock has a fifty day simple moving average of $420.08 and a 200 day simple moving average of $483.60. Tyler Technologies has a fifty-two week low of $283.71 and a fifty-two week high of $647.11. The stock has a market capitalization of $13.45 billion, a PE ratio of 43.43, a price-to-earnings-growth ratio of 2.00 and a beta of 0.91.

Tyler Technologies (NYSE:TYL – Get Free Report) last released its earnings results on Wednesday, February 11th. The technology company reported $2.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.07). The firm had revenue of $575.18 million during the quarter, compared to analysts’ expectations of $591.09 million. Tyler Technologies had a net margin of 13.53% and a return on equity of 10.42%. Tyler Technologies’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the company posted $2.43 earnings per share. Research analysts predict that Tyler Technologies will post 8.52 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Brian K. Miller sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $448.51, for a total transaction of $448,510.00. Following the sale, the chief financial officer directly owned 17,148 shares in the company, valued at approximately $7,691,049.48. This trade represents a 5.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Glenn A. Carter sold 500 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $458.73, for a total value of $229,365.00. Following the completion of the transaction, the director owned 3,172 shares of the company’s stock, valued at approximately $1,455,091.56. This represents a 13.62% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 3,500 shares of company stock valued at $1,605,605. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Tyler Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. bought a new stake in shares of Tyler Technologies in the 1st quarter worth about $38,000. NewEdge Advisors LLC grew its stake in Tyler Technologies by 17.8% in the first quarter. NewEdge Advisors LLC now owns 251 shares of the technology company’s stock worth $146,000 after purchasing an additional 38 shares in the last quarter. Woodline Partners LP bought a new stake in Tyler Technologies in the first quarter valued at about $2,102,000. Geneos Wealth Management Inc. raised its stake in Tyler Technologies by 137.9% during the first quarter. Geneos Wealth Management Inc. now owns 69 shares of the technology company’s stock valued at $40,000 after buying an additional 40 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Tyler Technologies by 0.6% during the 2nd quarter. Nordea Investment Management AB now owns 3,537 shares of the technology company’s stock worth $2,068,000 after buying an additional 20 shares during the last quarter. Institutional investors own 93.30% of the company’s stock.

About Tyler Technologies

(Get Free Report)

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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