Tyler Technologies (NYSE:TYL) Sets New 12-Month Low – Here’s Why

Tyler Technologies, Inc. (NYSE:TYL)’s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $423.96 and last traded at $421.9740, with a volume of 60478 shares. The stock had previously closed at $439.82.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TYL shares. Oppenheimer lowered their price target on shares of Tyler Technologies from $600.00 to $510.00 and set an “outperform” rating on the stock in a report on Friday, January 23rd. DA Davidson decreased their target price on shares of Tyler Technologies from $540.00 to $510.00 and set a “neutral” rating for the company in a research report on Tuesday, December 9th. Wells Fargo & Company cut their price target on shares of Tyler Technologies from $525.00 to $470.00 and set an “equal weight” rating on the stock in a report on Thursday, January 8th. Evercore ISI reaffirmed a “positive” rating on shares of Tyler Technologies in a research report on Friday, October 31st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Tyler Technologies in a report on Friday, January 9th. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $611.14.

Tyler Technologies Price Performance

The stock’s fifty day simple moving average is $450.81 and its 200-day simple moving average is $503.30. The firm has a market cap of $16.34 billion, a PE ratio of 52.81, a PEG ratio of 2.82 and a beta of 0.91.

Tyler Technologies (NYSE:TYL) last announced its quarterly earnings data on Wednesday, October 29th. The technology company reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates of $2.88 by $0.09. The firm had revenue of $595.88 million for the quarter, compared to analyst estimates of $594.34 million. Tyler Technologies had a net margin of 13.72% and a return on equity of 10.57%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.52 earnings per share. Analysts expect that Tyler Technologies, Inc. will post 8.52 earnings per share for the current year.

Insider Transactions at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 1,000 shares of Tyler Technologies stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $448.51, for a total transaction of $448,510.00. Following the completion of the sale, the chief financial officer directly owned 17,148 shares in the company, valued at approximately $7,691,049.48. The trade was a 5.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Glenn A. Carter sold 500 shares of the company’s stock in a transaction on Friday, December 12th. The shares were 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 SEC filing for this sale provides additional information. Insiders have sold 3,500 shares of company stock valued at $1,605,605 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. acquired a new stake in Tyler Technologies during the 1st quarter worth about $38,000. NewEdge Advisors LLC boosted its stake 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 buying an additional 38 shares during the last quarter. Woodline Partners LP acquired a new stake in Tyler Technologies during the first quarter worth about $2,102,000. Geneos Wealth Management Inc. grew its holdings in Tyler Technologies by 137.9% during the first quarter. Geneos Wealth Management Inc. now owns 69 shares of the technology company’s stock worth $40,000 after acquiring an additional 40 shares during the period. Finally, V Square Quantitative Management LLC raised its position in Tyler Technologies by 6.6% during the second quarter. V Square Quantitative Management LLC now owns 650 shares of the technology company’s stock valued at $385,000 after acquiring an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 93.30% of the company’s stock.

About Tyler Technologies

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.