DA Davidson assumed coverage on shares of Tyler Technologies (NYSE:TYL) in a research note released on Wednesday. The brokerage issued a neutral rating and a $190.00 target price on the technology company’s stock.
TYL has been the subject of a number of other reports. Zacks Investment Research downgraded Tyler Technologies from a buy rating to a hold rating in a report on Saturday, December 2nd. Maxim Group set a $220.00 price target on Tyler Technologies and gave the company a buy rating in a report on Thursday, February 22nd. Piper Jaffray Companies reaffirmed an overweight rating and issued a $220.00 price target on shares of Tyler Technologies in a report on Tuesday, January 16th. Evercore ISI reaffirmed a buy rating and issued a $210.00 price target on shares of Tyler Technologies in a report on Friday, February 23rd. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $235.00 price target on shares of Tyler Technologies in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $203.70.
Tyler Technologies (NYSE:TYL) opened at $212.20 on Wednesday. The stock has a market capitalization of $7,970.00, a P/E ratio of 58.46 and a beta of 0.97. Tyler Technologies has a fifty-two week low of $152.00 and a fifty-two week high of $213.38.
In other Tyler Technologies news, VP Brian K. Miller sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $210.54, for a total value of $1,052,700.00. Following the completion of the sale, the vice president now owns 55,114 shares in the company, valued at $11,603,701.56. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, President H Lynn Moore, Jr. sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $179.57, for a total value of $1,077,420.00. Following the completion of the sale, the president now owns 61,278 shares of the company’s stock, valued at approximately $11,003,690.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 212,582 shares of company stock valued at $40,978,009. 10.30% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. lifted its stake in Tyler Technologies by 1.6% in the fourth quarter. BlackRock Inc. now owns 2,915,372 shares of the technology company’s stock valued at $516,165,000 after buying an additional 46,298 shares during the last quarter. TimesSquare Capital Management LLC lifted its stake in Tyler Technologies by 9.4% in the fourth quarter. TimesSquare Capital Management LLC now owns 811,300 shares of the technology company’s stock valued at $143,641,000 after buying an additional 69,650 shares during the last quarter. Franklin Resources Inc. lifted its stake in Tyler Technologies by 35.6% in the fourth quarter. Franklin Resources Inc. now owns 796,423 shares of the technology company’s stock valued at $141,009,000 after buying an additional 209,004 shares during the last quarter. Two Creeks Capital Management LP raised its stake in shares of Tyler Technologies by 9.2% during the fourth quarter. Two Creeks Capital Management LP now owns 589,107 shares of the technology company’s stock worth $104,301,000 after purchasing an additional 49,865 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Tyler Technologies by 7.8% during the third quarter. Bank of New York Mellon Corp now owns 456,309 shares of the technology company’s stock worth $79,545,000 after purchasing an additional 33,100 shares during the last quarter. Institutional investors own 93.63% of the company’s stock.
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About Tyler Technologies
Tyler Technologies, Inc is a provider of information management solutions and services for the public sector, with a focus on local governments. The Company operates through two segments: Enterprise Software (ES) segment and The Appraisal and Tax (A&T) segment. ES segment provides municipal and county governments and schools with software systems and services for information technology and automation needs that includes back-office functions, such as financial management, courts and justice processes, public safety, planning regulatory and maintenance, and land and vital records management.
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