Tyler Technologies (NYSE:TYL) Hits New 52-Week High at $464.81

Tyler Technologies, Inc. (NYSE:TYL)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $464.81 and last traded at $447.07, with a volume of 114642 shares traded. The stock had previously closed at $419.00.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Tyler Technologies from $500.00 to $526.00 and gave the company an “overweight” rating in a research report on Thursday, February 15th. Needham & Company LLC reissued a “buy” rating and issued a $500.00 price objective on shares of Tyler Technologies in a research report on Thursday. JMP Securities reissued a “market outperform” rating and issued a $490.00 target price on shares of Tyler Technologies in a research report on Friday, February 16th. Piper Sandler reaffirmed an “overweight” rating and set a $520.00 price objective on shares of Tyler Technologies in a research report on Wednesday. Finally, DA Davidson increased their target price on Tyler Technologies from $412.00 to $434.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $460.46.

Tyler Technologies Stock Up 9.2 %

The stock has a market cap of $19.43 billion, a PE ratio of 114.57, a price-to-earnings-growth ratio of 4.12 and a beta of 0.81. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 0.86. The company’s 50-day moving average price is $422.28 and its 200 day moving average price is $414.52.

Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, February 14th. The technology company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.06. The firm had revenue of $480.94 million during the quarter, compared to the consensus estimate of $483.34 million. Tyler Technologies had a return on equity of 8.85% and a net margin of 8.50%. As a group, analysts forecast that Tyler Technologies, Inc. will post 6.77 EPS for the current fiscal year.

Insider Buying and Selling

In other Tyler Technologies news, CFO Brian K. Miller sold 5,000 shares of Tyler Technologies stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $442.99, for a total value of $2,214,950.00. Following the transaction, the chief financial officer now owns 14,610 shares in the company, valued at $6,472,083.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Tyler Technologies news, CFO Brian K. Miller sold 5,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $442.99, for a total value of $2,214,950.00. Following the completion of the sale, the chief financial officer now owns 14,610 shares of the company’s stock, valued at $6,472,083.90. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John S. Marr, Jr. sold 6,500 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $427.82, for a total value of $2,780,830.00. Following the completion of the sale, the insider now directly owns 6,400 shares of the company’s stock, valued at approximately $2,738,048. The disclosure for this sale can be found here. Insiders sold a total of 50,608 shares of company stock worth $21,974,819 over the last three months. 2.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Tyler Technologies

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Tyler Technologies by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 4,969,048 shares of the technology company’s stock worth $2,077,658,000 after acquiring an additional 55,629 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Tyler Technologies by 0.4% during the third quarter. Principal Financial Group Inc. now owns 1,268,954 shares of the technology company’s stock worth $489,994,000 after purchasing an additional 5,013 shares during the period. Norges Bank acquired a new stake in shares of Tyler Technologies during the fourth quarter worth about $459,691,000. Franklin Resources Inc. lifted its holdings in shares of Tyler Technologies by 6.7% during the fourth quarter. Franklin Resources Inc. now owns 1,040,341 shares of the technology company’s stock worth $434,987,000 after purchasing an additional 64,889 shares during the period. Finally, Morgan Stanley lifted its holdings in shares of Tyler Technologies by 21.1% during the third quarter. Morgan Stanley now owns 1,015,713 shares of the technology company’s stock worth $392,208,000 after purchasing an additional 177,242 shares during the period. Institutional investors and hedge funds own 93.30% of the company’s stock.

About Tyler Technologies

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. It operates in two segments, Enterprise Software and Platform Technologies. The company offers platform and transformative technology solutions, including cybersecurity for government agencies; data and insights solutions; digital solutions that helps workers and policymakers to share, communicate, and leverage data; payments solutions, such as billing, presentment, merchant onboarding, collections, reconciliation, and disbursements; platform technologies, an application development platform that enables government workers to build solutions and applications; and outdoor recreation solutions, including campsite reservations, activity registrations, licensing sales and renewals, and real-time data for conservation and park management.