Robert W. Baird downgraded shares of Tyler Technologies (NYSE:TYL) from an outperform rating to a neutral rating in a research report sent to investors on Monday morning, BenzingaRatingsTable reports. The firm currently has $310.00 target price on the technology company’s stock.
Several other brokerages have also recently weighed in on TYL. DA Davidson raised their price objective on Tyler Technologies from $216.00 to $238.00 and gave the company a neutral rating in a report on Friday, November 1st. They noted that the move was a valuation call. Northcoast Research cut Tyler Technologies from a buy rating to a neutral rating and set a $275.00 price objective for the company. in a report on Thursday, December 5th. JMP Securities raised their target price on shares of Tyler Technologies from $245.00 to $286.00 and gave the company a market outperform rating in a research note on Friday, September 27th. Oppenheimer assumed coverage on shares of Tyler Technologies in a research note on Monday, October 7th. They issued an outperform rating and a $300.00 target price for the company. Finally, ValuEngine downgraded shares of Tyler Technologies from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $283.11.
TYL stock opened at $311.31 on Monday. The stock has a 50-day moving average price of $296.75 and a two-hundred day moving average price of $264.92. The stock has a market cap of $12.09 billion, a PE ratio of 83.24 and a beta of 0.89. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.01. Tyler Technologies has a 1 year low of $183.14 and a 1 year high of $320.46.
In other news, CEO H Lynn Moore, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $290.02, for a total transaction of $2,900,200.00. Following the transaction, the chief executive officer now directly owns 73,672 shares of the company’s stock, valued at $21,366,353.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman John S. Marr, Jr. sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $285.65, for a total transaction of $4,284,750.00. The disclosure for this sale can be found here. Insiders have sold 67,750 shares of company stock valued at $19,364,240 over the last 90 days. Company insiders own 4.40% of the company’s stock.
A number of large investors have recently made changes to their positions in TYL. Johanson Financial Advisors Inc. bought a new position in Tyler Technologies in the fourth quarter valued at approximately $758,000. Eaton Vance Management grew its stake in shares of Tyler Technologies by 2,217.7% during the second quarter. Eaton Vance Management now owns 232,397 shares of the technology company’s stock worth $50,202,000 after buying an additional 222,370 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Tyler Technologies during the second quarter worth $31,804,000. Millennium Management LLC grew its stake in shares of Tyler Technologies by 949.2% during the third quarter. Millennium Management LLC now owns 112,385 shares of the technology company’s stock worth $29,501,000 after buying an additional 101,673 shares during the last quarter. Finally, Columbus Circle Investors bought a new stake in shares of Tyler Technologies during the third quarter worth $26,569,000. 88.30% of the stock is currently owned by institutional investors and hedge funds.
Tyler Technologies Company Profile
Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. The company operates in two segments, Enterprise Software, and Appraisal and Tax. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools.
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