Tyler Technologies, Inc. (NYSE:TYL – Get Rating) has received a consensus rating of "Moderate Buy" from the thirteen analysts that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $470.55.
TYL has been the topic of a number of analyst reports. Needham & Company LLC decreased their target price on shares of Tyler Technologies from $575.00 to $475.00 and set a "buy" rating on the stock in a report on Thursday, July 28th. DA Davidson raised their target price on shares of Tyler Technologies to $460.00 in a research report on Tuesday, August 9th. Barclays dropped their target price on shares of Tyler Technologies from $445.00 to $370.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 12th. Piper Sandler lifted their price target on shares of Tyler Technologies from $405.00 to $468.00 and gave the company an "overweight" rating in a research report on Friday, July 29th. Finally, Truist Financial reduced their price objective on shares of Tyler Technologies from $550.00 to $500.00 and set a "buy" rating for the company in a research note on Tuesday, July 5th.
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Tyler Technologies Stock Down 0.1 %
Shares of TYL opened at $347.50 on Thursday. The firm's 50 day moving average is $380.17 and its 200-day moving average is $374.38. The stock has a market capitalization of $14.45 billion, a PE ratio of 82.54 and a beta of 0.91. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.50. Tyler Technologies has a 12 month low of $300.85 and a 12 month high of $557.55.
Tyler Technologies (NYSE:TYL – Get Rating) last issued its earnings results on Wednesday, July 27th. The technology company reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $1.36 by $0.07. The firm had revenue of $468.70 million for the quarter, compared to analyst estimates of $458.50 million. Tyler Technologies had a net
margin of 9.84% and a return on equity of 10.26%. The company's quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the business posted $1.42 earnings per share. Equities research analysts forecast that Tyler Technologies will post 5.52 EPS for the current year.
Insider Activity
In related news, COO Jeffrey David Puckett sold 3,906 shares of the firm's stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $390.15, for a total value of $1,523,925.90. Following the sale, the chief operating officer now owns 3,569 shares of the company's stock, valued at approximately $1,392,445.35. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.00% of the company's stock.
Hedge Funds Weigh In On Tyler Technologies
A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Tyler Technologies by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 4,603,034 shares of the technology company's stock valued at $2,047,844,000 after acquiring an additional 66,211 shares during the last quarter. BlackRock Inc. increased its stake in Tyler Technologies by 0.8% in the first quarter. BlackRock Inc. now owns 4,278,185 shares of the technology company's stock valued at $1,903,323,000 after acquiring an additional 35,064 shares during the last quarter. Bishop Rock Capital L.P. boosted its position in Tyler Technologies by 26,110.5% in the second quarter. Bishop Rock Capital L.P. now owns 2,336,669 shares of the technology company's stock valued at $7,028,000 after buying an additional 2,327,754 shares in the last quarter. Invesco Ltd. boosted its position in Tyler Technologies by 15.3% in the first quarter. Invesco Ltd. now owns 762,769 shares of the technology company's stock valued at $339,347,000 after buying an additional 101,365 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Tyler Technologies by 13.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 618,581 shares of the technology company's stock worth $205,666,000 after purchasing an additional 74,542 shares during the period. 89.42% of the stock is currently owned by institutional investors.
Tyler Technologies Company Profile
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Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. The company operates in three segments: Enterprise Software; Appraisal and Tax; and NIC. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools.
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