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

Tyler Technologies, Inc. (NYSE:TYL) has been assigned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $660.0909.

A number of equities research analysts recently weighed in on the stock. Oppenheimer restated an “outperform” rating and issued a $600.00 target price on shares of Tyler Technologies in a report on Thursday. Barclays increased their price objective on shares of Tyler Technologies from $695.00 to $715.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Robert W. Baird set a $660.00 price objective on shares of Tyler Technologies in a research note on Friday. Weiss Ratings reiterated a “hold (c)” rating on shares of Tyler Technologies in a research note on Tuesday, October 14th. Finally, DA Davidson decreased their price objective on shares of Tyler Technologies from $560.00 to $540.00 and set a “neutral” rating for the company in a research note on Friday.

Tyler Technologies Price Performance

TYL opened at $467.60 on Tuesday. Tyler Technologies has a fifty-two week low of $450.00 and a fifty-two week high of $661.31. The firm has a market capitalization of $20.12 billion, a PE ratio of 65.03, a P/E/G ratio of 3.67 and a beta of 0.89. The company’s 50-day moving average is $523.37 and its 200 day moving average is $553.72.

Insider Buying and Selling at Tyler Technologies

In other news, Director Glenn A. Carter sold 750 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $538.30, for a total transaction of $403,725.00. Following the completion of the sale, the director owned 3,172 shares in the company, valued at $1,707,487.60. This trade represents a 19.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John S. Marr, Jr. sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $560.65, for a total transaction of $2,242,600.00. Following the sale, the insider owned 6,983 shares of the company’s stock, valued at approximately $3,915,018.95. The trade was a 36.42% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 14,250 shares of company stock worth $8,099,000. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Tyler Technologies

Several large investors have recently modified their holdings of TYL. Cambridge Investment Research Advisors Inc. increased its stake in shares of Tyler Technologies by 0.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,133 shares of the technology company’s stock worth $2,984,000 after purchasing an additional 31 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Tyler Technologies by 15.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 1,017 shares of the technology company’s stock worth $591,000 after buying an additional 133 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Tyler Technologies by 23.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,763 shares of the technology company’s stock worth $2,761,000 after buying an additional 916 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Tyler Technologies by 1.0% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 108,129 shares of the technology company’s stock worth $62,865,000 after buying an additional 1,023 shares during the period. Finally, Amalgamated Bank boosted its holdings in Tyler Technologies by 2.4% in the 1st quarter. Amalgamated Bank now owns 9,129 shares of the technology company’s stock worth $5,308,000 after buying an additional 218 shares during the period. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Tyler Technologies Company Profile

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.