Tyler Technologies (NYSE:TYL) Reaches New 52-Week Low – What’s Next?

Shares of Tyler Technologies, Inc. (NYSE:TYL) reached a new 52-week low on Monday . The stock traded as low as $365.70 and last traded at $373.56, with a volume of 701024 shares trading hands. The stock had previously closed at $380.00.

Analysts Set New Price Targets

Several research firms have recently commented on TYL. BTIG Research began coverage on shares of Tyler Technologies in a report on Tuesday, December 16th. They issued a “buy” rating and a $560.00 price target for the company. Stifel Nicolaus initiated coverage on Tyler Technologies in a report on Wednesday, January 7th. They issued a “buy” rating and a $550.00 price target on the stock. Needham & Company LLC reissued a “buy” rating on shares of Tyler Technologies in a report on Wednesday, January 7th. TD Cowen started coverage on shares of Tyler Technologies in a research note on Friday, December 12th. They set a “buy” rating for the company. Finally, UBS Group reaffirmed an “overweight” rating on shares of Tyler Technologies in a report on Wednesday, October 8th. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $611.14.

Tyler Technologies Stock Down 0.8%

The firm’s 50-day simple moving average is $448.75 and its 200 day simple moving average is $501.19. The stock has a market capitalization of $15.77 billion, a P/E ratio of 50.98, a PEG ratio of 2.49 and a beta of 0.91.

Insider Buying and Selling

In other Tyler Technologies news, CFO Brian K. Miller sold 1,000 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $448.51, for a total value of $448,510.00. Following the transaction, the chief financial officer owned 17,148 shares of the company’s stock, valued at approximately $7,691,049.48. This represents a 5.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Glenn A. Carter sold 500 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $458.73, for a total value of $229,365.00. Following the sale, the director directly owned 3,172 shares of the company’s stock, valued at approximately $1,455,091.56. This represents a 13.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 3,500 shares of company stock worth $1,605,605 over the last quarter. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Tyler Technologies

Several hedge funds have recently modified their holdings of TYL. Cornerstone Planning Group LLC raised its holdings in Tyler Technologies by 3,900.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 80 shares of the technology company’s stock worth $34,000 after buying an additional 78 shares during the period. Gibraltar Capital Management Inc. raised its holdings in shares of Tyler Technologies by 7.9% during the fourth quarter. Gibraltar Capital Management Inc. now owns 4,230 shares of the technology company’s stock valued at $1,920,000 after acquiring an additional 310 shares during the period. Kornitzer Capital Management Inc. KS lifted its position in shares of Tyler Technologies by 13.8% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 21,039 shares of the technology company’s stock valued at $9,551,000 after acquiring an additional 2,550 shares in the last quarter. Danske Bank A S grew its position in Tyler Technologies by 12.9% during the 4th quarter. Danske Bank A S now owns 22,349 shares of the technology company’s stock worth $10,145,000 after purchasing an additional 2,560 shares in the last quarter. Finally, Conestoga Capital Advisors LLC raised its stake in Tyler Technologies by 14.2% during the 4th quarter. Conestoga Capital Advisors LLC now owns 107,466 shares of the technology company’s stock valued at $48,784,000 after purchasing an additional 13,356 shares during the period. 93.30% of the stock is owned by hedge funds and other institutional investors.

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.