Tyler Technologies (NYSE:TYL) Hits New 1-Year Low – Should You Sell?

Tyler Technologies, Inc. (NYSE:TYL) shares hit a new 52-week low on Monday . The company traded as low as $365.70 and last traded at $373.56, with a volume of 701024 shares trading hands. The stock had previously closed at $380.00.

Analyst Ratings Changes

Several research analysts recently weighed in on TYL shares. DA Davidson cut their target price on Tyler Technologies from $540.00 to $510.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 9th. Robert W. Baird set a $660.00 price objective on Tyler Technologies in a research note on Friday, October 31st. Oppenheimer decreased their target price on Tyler Technologies from $600.00 to $510.00 and set an “outperform” rating for the company in a report on Friday, January 23rd. Stifel Nicolaus started coverage on shares of Tyler Technologies in a research report on Wednesday, January 7th. They set a “buy” rating and a $550.00 price target on the stock. Finally, Wells Fargo & Company dropped their price objective on shares of Tyler Technologies from $525.00 to $470.00 and set an “equal weight” rating for the company in a research report on Thursday, January 8th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $611.14.

Tyler Technologies Trading Down 0.8%

The business’s 50-day simple moving average is $448.75 and its two-hundred day simple moving average is $501.19. The company has a market capitalization of $15.77 billion, a PE ratio of 50.98, a PEG ratio of 2.49 and a beta of 0.91.

Insider Buying and Selling

In related news, Director Glenn A. Carter sold 500 shares of Tyler Technologies stock in a transaction on 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 sale, the director owned 3,172 shares in the company, valued at approximately $1,455,091.56. The trade was a 13.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian K. Miller sold 1,000 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $448.51, for a total transaction of $448,510.00. Following the completion of the sale, the chief financial officer directly owned 17,148 shares in the company, valued at $7,691,049.48. This represents a 5.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 3,500 shares of company stock valued at $1,605,605. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Tyler Technologies

Several hedge funds and other institutional investors have recently modified their holdings of TYL. Generali Asset Management SPA SGR acquired a new position in Tyler Technologies in the second quarter worth about $30,000. Root Financial Partners LLC acquired a new position in shares of Tyler Technologies in the 3rd quarter worth approximately $28,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Tyler Technologies in the 2nd quarter valued at approximately $32,000. Salomon & Ludwin LLC raised its position in shares of Tyler Technologies by 6,100.0% during the 4th quarter. Salomon & Ludwin LLC now owns 62 shares of the technology company’s stock valued at $27,000 after acquiring an additional 61 shares in the last quarter. Finally, Advisors Asset Management Inc. bought a new position in Tyler Technologies during the first quarter worth $38,000. 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.