Shares of Tyler Technologies, Inc. (NYSE:TYL) have received a consensus recommendation of “Buy” from the twelve ratings firms that are presently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $289.71.
Several equities research analysts have weighed in on the company. Northcoast Research cut Tyler Technologies from a “buy” rating to a “neutral” rating and set a $275.00 target price for the company. in a research note on Thursday, December 5th. Needham & Company LLC restated a “buy” rating on shares of Tyler Technologies in a research note on Thursday, October 31st. JMP Securities upped their target price on Tyler Technologies from $245.00 to $286.00 and gave the stock a “market outperform” rating in a research note on Friday, September 27th. ValuEngine downgraded shares of Tyler Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, DA Davidson upped their price target on shares of Tyler Technologies from $216.00 to $238.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. They noted that the move was a valuation call.
NYSE TYL traded down $1.85 on Tuesday, hitting $309.90. 162,524 shares of the company’s stock were exchanged, compared to its average volume of 234,845. The stock has a 50-day moving average of $300.05 and a 200-day moving average of $268.58. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.01. Tyler Technologies has a 52 week low of $187.64 and a 52 week high of $320.46. The stock has a market cap of $12.14 billion, a price-to-earnings ratio of 94.48 and a beta of 0.89.
Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, October 30th. The technology company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.01). Tyler Technologies had a return on equity of 11.51% and a net margin of 12.63%. The business had revenue of $275.40 million for the quarter, compared to the consensus estimate of $281.03 million. During the same quarter in the previous year, the company earned $1.23 earnings per share. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. As a group, analysts predict that Tyler Technologies will post 4.15 earnings per share for the current year.
In related news, CFO Brian K. Miller sold 17,750 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $282.96, for a total value of $5,022,540.00. Following the completion of the sale, the chief financial officer now directly owns 46,991 shares in the company, valued at $13,296,573.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO H Lynn Moore, Jr. sold 10,000 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $290.02, for a total value of $2,900,200.00. Following the completion of the sale, the chief executive officer now owns 73,672 shares of the company’s stock, valued at $21,366,353.44. The disclosure for this sale can be found here. Insiders have sold 67,750 shares of company stock valued at $19,364,240 over the last quarter. Company insiders own 4.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in Tyler Technologies by 2.2% in the second quarter. BlackRock Inc. now owns 3,888,945 shares of the technology company’s stock valued at $840,090,000 after purchasing an additional 83,696 shares during the period. DF Dent & Co. Inc. increased its holdings in Tyler Technologies by 1.3% in the second quarter. DF Dent & Co. Inc. now owns 768,059 shares of the technology company’s stock valued at $165,916,000 after purchasing an additional 9,730 shares during the period. Riverbridge Partners LLC increased its holdings in Tyler Technologies by 1.3% in the third quarter. Riverbridge Partners LLC now owns 412,104 shares of the technology company’s stock valued at $108,177,000 after purchasing an additional 5,161 shares during the period. Waddell & Reed Financial Inc. increased its holdings in Tyler Technologies by 0.8% in the second quarter. Waddell & Reed Financial Inc. now owns 344,800 shares of the technology company’s stock valued at $74,484,000 after purchasing an additional 2,748 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in Tyler Technologies by 21.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 308,534 shares of the technology company’s stock valued at $80,990,000 after purchasing an additional 54,495 shares during the period. Institutional investors and hedge funds own 88.89% of the company’s stock.
Tyler Technologies Company Profile
Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. The company operates in two segments, Enterprise Software, and Appraisal and Tax. 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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