Tyler Technologies (NYSE:TYL) Upgraded to “Hold” at Evercore ISI

Evercore ISI upgraded shares of Tyler Technologies (NYSE:TYL) to a hold rating in a research report sent to investors on Friday, Zacks.com reports.

Other analysts have also issued research reports about the company. Barclays upped their price objective on Tyler Technologies from $515.00 to $577.00 and gave the company an equal weight rating in a report on Friday. DA Davidson increased their price objective on Tyler Technologies from $456.00 to $525.00 and gave the company a neutral rating in a research report on Friday. Needham & Company LLC reaffirmed a buy rating and set a $600.00 target price on shares of Tyler Technologies in a research report on Thursday, July 25th. Wells Fargo & Company lifted their price target on Tyler Technologies from $580.00 to $600.00 and gave the stock an overweight rating in a research note on Friday. Finally, Oppenheimer boosted their price objective on Tyler Technologies from $550.00 to $625.00 and gave the stock an outperform rating in a report on Friday. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $582.31.

Tyler Technologies Stock Down 2.3 %

TYL stock opened at $576.99 on Friday. The stock has a market cap of $24.50 billion, a PE ratio of 130.54, a price-to-earnings-growth ratio of 6.06 and a beta of 0.76. The firm’s 50-day simple moving average is $501.04 and its 200 day simple moving average is $458.42. Tyler Technologies has a fifty-two week low of $361.16 and a fifty-two week high of $593.50. The company has a quick ratio of 0.94, a current ratio of 1.06 and a debt-to-equity ratio of 0.19.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, July 24th. The technology company reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.06. The firm had revenue of $540.98 million for the quarter, compared to the consensus estimate of $541.01 million. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.53 EPS. As a group, sell-side analysts predict that Tyler Technologies will post 6.5 EPS for the current year.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, insider John S. Marr, Jr. sold 6,000 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $483.21, for a total transaction of $2,899,260.00. Following the transaction, the insider now directly owns 6,983 shares of the company’s stock, valued at $3,374,255.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Brian K. Miller sold 2,671 shares of Tyler Technologies stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $465.03, for a total value of $1,242,095.13. Following the transaction, the chief financial officer now owns 13,536 shares of the company’s stock, valued at $6,294,646.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John S. Marr, Jr. sold 6,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $483.21, for a total transaction of $2,899,260.00. Following the sale, the insider now directly owns 6,983 shares of the company’s stock, valued at $3,374,255.43. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,241 shares of company stock valued at $10,201,740. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TYL. Vanguard Group Inc. grew its stake in shares of Tyler Technologies by 1.1% in the first quarter. Vanguard Group Inc. now owns 5,022,053 shares of the technology company’s stock worth $2,134,423,000 after acquiring an additional 53,005 shares during the last quarter. Principal Financial Group Inc. grew its position in Tyler Technologies by 3.3% during the first quarter. Principal Financial Group Inc. now owns 1,309,715 shares of the technology company’s stock worth $556,642,000 after buying an additional 41,485 shares in the last quarter. Norges Bank bought a new position in Tyler Technologies during the fourth quarter valued at about $459,691,000. Franklin Resources Inc. raised its holdings in Tyler Technologies by 6.7% in the 4th quarter. Franklin Resources Inc. now owns 1,040,341 shares of the technology company’s stock valued at $434,987,000 after acquiring an additional 64,889 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Tyler Technologies by 6.3% in the 1st quarter. Van ECK Associates Corp now owns 922,942 shares of the technology company’s stock worth $392,259,000 after acquiring an additional 54,926 shares during the period. Institutional investors and hedge funds 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.