BTIG Research Initiates Coverage on Tyler Technologies (NYSE:TYL)

Equities researchers at BTIG Research started coverage on shares of Tyler Technologies (NYSE:TYL) in a research report issued on Tuesday, MarketBeat.com reports. The firm set a “buy” rating and a $560.00 price target on the technology company’s stock. BTIG Research’s target price suggests a potential upside of 24.12% from the company’s previous close.

A number of other research analysts have also recently weighed in on TYL. UBS Group reaffirmed an “overweight” rating on shares of Tyler Technologies in a research report on Wednesday, October 8th. Oppenheimer restated an “outperform” rating and set a $600.00 target price on shares of Tyler Technologies in a report on Thursday, October 30th. Evercore ISI reaffirmed a “positive” rating on shares of Tyler Technologies in a research report on Friday, October 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Tyler Technologies in a research report on Tuesday, October 14th. Finally, Robert W. Baird set a $660.00 target price on Tyler Technologies in a research report on Friday, October 31st. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $649.31.

Tyler Technologies Trading Up 0.2%

TYL stock opened at $451.18 on Tuesday. The company has a market cap of $19.41 billion, a PE ratio of 62.75, a price-to-earnings-growth ratio of 3.43 and a beta of 0.91. The stock has a 50-day moving average price of $476.42 and a two-hundred day moving average price of $532.01. Tyler Technologies has a 12-month low of $445.64 and a 12-month high of $661.31.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, October 29th. The technology company reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.88 by $0.09. The company had revenue of $595.88 million for the quarter, compared to the consensus estimate of $594.34 million. Tyler Technologies had a return on equity of 10.57% and a net margin of 13.72%.The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business posted $2.52 EPS. Tyler Technologies has set its FY 2025 guidance at 11.300-11.500 EPS. Equities analysts forecast that Tyler Technologies will post 8.52 EPS for the current fiscal year.

Insider Activity

In other news, Director Glenn A. Carter sold 500 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $458.73, for a total transaction of $229,365.00. Following the completion of the sale, the director directly owned 3,172 shares in the company, valued at $1,455,091.56. This trade represents a 13.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian K. Miller sold 1,000 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was 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 owned 17,148 shares in the company, valued at approximately $7,691,049.48. This trade represents a 5.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,500 shares of company stock valued at $1,146,955 over the last 90 days. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Tyler Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the business. Strategic Investment Advisors MI increased its stake in shares of Tyler Technologies by 22.9% in the third quarter. Strategic Investment Advisors MI now owns 2,723 shares of the technology company’s stock worth $1,424,000 after buying an additional 508 shares during the last quarter. Allworth Financial LP boosted its stake in Tyler Technologies by 17.0% during the 3rd quarter. Allworth Financial LP now owns 317 shares of the technology company’s stock valued at $166,000 after acquiring an additional 46 shares during the last quarter. Swiss Life Asset Management Ltd grew its holdings in Tyler Technologies by 12.8% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 7,132 shares of the technology company’s stock worth $3,731,000 after acquiring an additional 811 shares in the last quarter. CIBC Bancorp USA Inc. bought a new stake in shares of Tyler Technologies in the 3rd quarter worth about $3,120,000. Finally, Oarsman Capital Inc. lifted its position in shares of Tyler Technologies by 1.1% during the third quarter. Oarsman Capital Inc. now owns 4,334 shares of the technology company’s stock worth $2,267,000 after purchasing an additional 48 shares during the last quarter. 93.30% of the stock is currently owned by hedge funds and other institutional investors.

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.