Tyler Technologies, Inc. (NYSE:TYL) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Tyler Technologies, Inc. (NYSE:TYL) has been assigned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $467.5385.

Several research analysts recently weighed in on TYL shares. Piper Sandler reaffirmed an “overweight” rating and set a $543.00 target price (down from $671.00) on shares of Tyler Technologies in a research note on Friday, February 13th. BTIG Research cut their price target on shares of Tyler Technologies from $560.00 to $470.00 and set a “buy” rating for the company in a report on Monday, February 9th. DA Davidson restated a “buy” rating and set a $460.00 price objective on shares of Tyler Technologies in a research report on Tuesday, February 17th. Needham & Company LLC reiterated a “buy” rating and issued a $750.00 target price on shares of Tyler Technologies in a report on Tuesday, February 3rd. Finally, Wells Fargo & Company cut their target price on shares of Tyler Technologies from $420.00 to $335.00 and set an “equal weight” rating for the company in a research note on Friday, February 13th.

Insider Buying and Selling

In other news, COO Jeffrey David Puckett sold 5,174 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $369.93, for a total transaction of $1,914,017.82. Following the completion of the sale, the chief operating officer owned 7,754 shares in the company, valued at approximately $2,868,437.22. This represents a 40.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew D. Teed acquired 1,600 shares of Tyler Technologies stock in a transaction dated Monday, February 23rd. The shares were bought at an average cost of $309.91 per share, with a total value of $495,856.00. Following the completion of the purchase, the director owned 5,118 shares in the company, valued at approximately $1,586,119.38. This represents a 45.48% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold 7,298 shares of company stock valued at $2,658,721 in the last three months. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Tyler Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Advisors Asset Management Inc. acquired a new position in shares of Tyler Technologies in the first quarter worth about $38,000. NewEdge Advisors LLC increased its position in shares of Tyler Technologies by 17.8% in the first quarter. NewEdge Advisors LLC now owns 251 shares of the technology company’s stock worth $146,000 after acquiring an additional 38 shares in the last quarter. Woodline Partners LP acquired a new stake in shares of Tyler Technologies during the first quarter valued at approximately $2,102,000. Geneos Wealth Management Inc. lifted its position in shares of Tyler Technologies by 137.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 69 shares of the technology company’s stock valued at $40,000 after acquiring an additional 40 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Tyler Technologies by 12.5% in the 2nd quarter. American Century Companies Inc. now owns 621 shares of the technology company’s stock valued at $368,000 after acquiring an additional 69 shares in the last quarter. Institutional investors and hedge funds own 93.30% of the company’s stock.

Tyler Technologies Price Performance

Shares of NYSE:TYL opened at $341.43 on Friday. The stock has a market cap of $14.49 billion, a price-to-earnings ratio of 47.42, a PEG ratio of 2.23 and a beta of 0.90. Tyler Technologies has a 12 month low of $283.71 and a 12 month high of $621.34. The stock’s 50 day moving average price is $359.70 and its 200 day moving average price is $440.66.

Tyler Technologies (NYSE:TYL) last issued its quarterly earnings results on Wednesday, February 11th. The technology company reported $2.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.07). Tyler Technologies had a net margin of 13.53% and a return on equity of 10.42%. The firm had revenue of $575.18 million for the quarter, compared to analyst estimates of $591.09 million. During the same quarter last year, the business posted $2.43 earnings per share. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, sell-side analysts expect that Tyler Technologies will post 8.52 EPS for the current year.

Tyler Technologies Company Profile

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.