Tyler Technologies (NYSE:TYL) Given Neutral Rating at DA Davidson

Tyler Technologies (NYSE:TYL)‘s stock had its “neutral” rating restated by investment analysts at DA Davidson in a research note issued on Tuesday,Benzinga reports. They currently have a $510.00 target price on the technology company’s stock. DA Davidson’s target price indicates a potential upside of 56.98% from the stock’s previous close.

TYL has been the subject of several other research reports. Stifel Nicolaus began coverage on shares of Tyler Technologies in a report on Wednesday, January 7th. They set a “buy” rating and a $550.00 target price for the company. Oppenheimer decreased their price objective on Tyler Technologies from $600.00 to $510.00 and set an “outperform” rating on the stock in a report on Friday, January 23rd. The Goldman Sachs Group initiated coverage on shares of Tyler Technologies in a research note on Tuesday, January 13th. They issued a “buy” rating and a $560.00 price target on the stock. TD Cowen started coverage on shares of Tyler Technologies in a research note on Friday, December 12th. They issued a “buy” rating for the company. Finally, Robert W. Baird set a $660.00 target price on shares of Tyler Technologies in a research report on Friday, October 31st. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Tyler Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $611.14.

Tyler Technologies Stock Down 10.5%

Shares of TYL stock traded down $38.01 on Tuesday, reaching $324.88. The stock had a trading volume of 596,213 shares, compared to its average volume of 412,294. The firm has a market capitalization of $13.98 billion, a price-to-earnings ratio of 45.23, a P/E/G ratio of 2.49 and a beta of 0.91. Tyler Technologies has a 12 month low of $321.33 and a 12 month high of $661.31. The firm’s 50-day moving average is $446.92 and its two-hundred day moving average is $499.79.

Insider Activity

In other news, Director Glenn A. Carter sold 500 shares of the stock in a transaction dated Friday, December 12th. The shares were 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian K. Miller sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $469.08, for a total transaction of $469,080.00. Following the transaction, the chief financial officer owned 12,781 shares of the company’s stock, valued at approximately $5,995,311.48. This represents a 7.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 3,500 shares of company stock valued at $1,605,605. Insiders own 1.10% of the company’s stock.

Institutional Trading of Tyler Technologies

Several institutional investors have recently modified their holdings of the business. DLD Asset Management LP acquired a new stake in shares of Tyler Technologies in the second quarter valued at about $5,780,190,000. Vanguard Group Inc. lifted its holdings in Tyler Technologies by 4.2% in the third quarter. Vanguard Group Inc. now owns 5,805,036 shares of the technology company’s stock valued at $3,036,963,000 after buying an additional 234,916 shares during the period. State Street Corp raised its position in shares of Tyler Technologies by 1.8% in the 3rd quarter. State Street Corp now owns 1,947,850 shares of the technology company’s stock worth $1,019,037,000 after acquiring an additional 34,178 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Tyler Technologies by 3.1% in the fourth quarter. Principal Financial Group Inc. now owns 1,454,061 shares of the technology company’s stock worth $660,089,000 after purchasing an additional 43,421 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Tyler Technologies by 2.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,206,406 shares of the technology company’s stock worth $713,144,000 after buying an additional 30,686 shares during the period. Institutional investors own 93.30% of the company’s stock.

Tyler Technologies Company Profile

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.