Tyler Technologies, Inc. (NYSE:TYL) Receives Average Rating of “Buy” from Brokerages

Shares of Tyler Technologies, Inc. (NYSE:TYL) have been assigned a consensus rating of “Buy” from the eleven ratings firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $522.46.

TYL has been the subject of several research analyst reports. BTIG Research upgraded shares of Tyler Technologies from a “neutral” rating to a “buy” rating and set a $585.00 target price for the company in a research report on Tuesday, August 31st. JMP Securities lifted their target price on shares of Tyler Technologies from $480.00 to $525.00 and gave the company an “outperform” rating in a research report on Thursday, July 29th. Zacks Investment Research lowered shares of Tyler Technologies from a “buy” rating to a “hold” rating and set a $492.00 target price for the company. in a research report on Tuesday, September 28th. Needham & Company LLC lifted their target price on shares of Tyler Technologies from $480.00 to $575.00 and gave the company a “buy” rating in a research report on Thursday, July 29th. Finally, DA Davidson reiterated a “neutral” rating and set a $492.56 target price (up from $395.00) on shares of Tyler Technologies in a research report on Monday, July 26th.

NYSE:TYL traded up $8.18 during mid-day trading on Thursday, hitting $495.17. 986 shares of the stock traded hands, compared to its average volume of 226,343. The business’s 50-day moving average price is $474.02 and its 200 day moving average price is $451.84. The company has a market cap of $20.22 billion, a PE ratio of 133.39 and a beta of 0.59. Tyler Technologies has a 12-month low of $372.80 and a 12-month high of $498.98. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.72.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings data on Wednesday, July 28th. The technology company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.20 by $0.63. The company had revenue of $405.36 million during the quarter, compared to analysts’ expectations of $370.85 million. Tyler Technologies had a net margin of 12.30% and a return on equity of 10.03%. Analysts anticipate that Tyler Technologies will post 4.92 earnings per share for the current fiscal year.

In related news, Chairman John S. Marr, Jr. sold 6,214 shares of the company’s stock in a transaction on Tuesday, August 24th. The shares were sold at an average price of $472.45, for a total transaction of $2,935,804.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Glenn A. Carter sold 200 shares of the company’s stock in a transaction on Wednesday, September 8th. The shares were sold at an average price of $486.23, for a total transaction of $97,246.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,729 shares of company stock valued at $10,036,591. Company insiders own 2.70% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Principal Financial Group Inc. raised its holdings in Tyler Technologies by 49.0% during the 2nd quarter. Principal Financial Group Inc. now owns 1,679,142 shares of the technology company’s stock valued at $759,593,000 after buying an additional 552,491 shares during the last quarter. State Street Corp increased its position in Tyler Technologies by 0.7% during the 2nd quarter. State Street Corp now owns 1,634,470 shares of the technology company’s stock valued at $739,385,000 after purchasing an additional 11,810 shares during the period. APG Asset Management N.V. increased its position in Tyler Technologies by 195.3% during the 1st quarter. APG Asset Management N.V. now owns 1,625,631 shares of the technology company’s stock valued at $587,194,000 after purchasing an additional 1,075,146 shares during the period. Franklin Resources Inc. increased its position in Tyler Technologies by 3.4% during the 2nd quarter. Franklin Resources Inc. now owns 850,131 shares of the technology company’s stock valued at $384,576,000 after purchasing an additional 27,881 shares during the period. Finally, Alliancebernstein L.P. increased its position in Tyler Technologies by 8.5% during the 2nd quarter. Alliancebernstein L.P. now owns 767,208 shares of the technology company’s stock valued at $347,062,000 after purchasing an additional 60,398 shares during the period. Institutional investors own 90.66% of the company’s stock.

About Tyler Technologies

Tyler Technologies, Inc engages in the provision of integrated technology and management solutions and services for public sector with a focus on local governments. It operates through the following segments: Enterprise Software and Appraisal and Tax. The Enterprise Software segment provides municipal and county governments and schools with software systems to meet their information technology and automation needs for mission-critical back-office functions such as financial management, courts and justice processes.

Read More: Equity Income

Analyst Recommendations for Tyler Technologies (NYSE:TYL)

Receive News & Ratings for Tyler Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tyler Technologies and related companies with MarketBeat.com's FREE daily email newsletter.