Tyler Technologies’ (TYL) Neutral Rating Reiterated at DA Davidson

DA Davidson reaffirmed their neutral rating on shares of Tyler Technologies (NYSE:TYLFree Report) in a research note published on Tuesday,Benzinga reports. DA Davidson currently has a $510.00 price objective on the technology company’s stock.

TYL has been the topic of a number of other research reports. Wells Fargo & Company reduced their target price on Tyler Technologies from $525.00 to $470.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 8th. Stifel Nicolaus initiated coverage on shares of Tyler Technologies in a research report on Wednesday, January 7th. They issued a “buy” rating and a $550.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $750.00 price target on shares of Tyler Technologies in a research note on Tuesday. TD Cowen assumed coverage on Tyler Technologies in a research note on Friday, December 12th. They issued a “buy” rating on the stock. Finally, BTIG Research assumed coverage on Tyler Technologies in a research report on Tuesday, December 16th. They set a “buy” rating and a $560.00 target price for the company. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $607.57.

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Tyler Technologies Stock Performance

TYL opened at $341.02 on Tuesday. The stock’s 50 day moving average price is $439.19 and its 200-day moving average price is $495.98. Tyler Technologies has a one year low of $320.23 and a one year high of $661.31. The stock has a market cap of $14.67 billion, a price-to-earnings ratio of 47.43, a P/E/G ratio of 2.31 and a beta of 0.91.

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 1,000 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $448.51, for a total value of $448,510.00. Following the completion of the transaction, the chief financial officer directly owned 17,148 shares in the company, valued at approximately $7,691,049.48. The trade was a 5.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Glenn A. Carter sold 500 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $458.73, for a total transaction of $229,365.00. Following the completion of the sale, the director owned 3,172 shares in the company, valued at $1,455,091.56. This represents a 13.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 3,500 shares of company stock worth $1,605,605. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Tyler Technologies

Institutional investors have recently made changes to their positions in the business. DLD Asset Management LP acquired a new position in Tyler Technologies during the 2nd quarter valued at about $5,780,190,000. Norges Bank acquired a new stake in Tyler Technologies in the 2nd quarter worth approximately $712,276,000. Van ECK Associates Corp grew its position in Tyler Technologies by 55.1% during the 3rd quarter. Van ECK Associates Corp now owns 850,103 shares of the technology company’s stock worth $444,740,000 after purchasing an additional 301,885 shares during the last quarter. Wellington Management Group LLP increased its stake in Tyler Technologies by 72.5% during the 3rd quarter. Wellington Management Group LLP now owns 600,776 shares of the technology company’s stock valued at $314,302,000 after purchasing an additional 252,488 shares in the last quarter. Finally, Impax Asset Management Group plc acquired a new stake in shares of Tyler Technologies during the fourth quarter worth $106,740,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

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Tyler Technologies Company Profile

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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.

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Analyst Recommendations for Tyler Technologies (NYSE:TYL)

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