Tyler Technologies (NYSE:TYL) Reaches New 1-Year High – What’s Next?

Tyler Technologies, Inc. (NYSE:TYL) shares reached a new 52-week high during trading on Monday . The company traded as high as $599.85 and last traded at $597.79, with a volume of 51894 shares changing hands. The stock had previously closed at $594.41.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. JMP Securities increased their price objective on Tyler Technologies from $490.00 to $580.00 and gave the company a “market outperform” rating in a report on Monday, July 22nd. Evercore ISI upgraded Tyler Technologies to a “hold” rating in a report on Friday, July 26th. Wells Fargo & Company increased their price objective on Tyler Technologies from $580.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Barclays upgraded Tyler Technologies from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $577.00 to $700.00 in a research note on Monday, October 7th. Finally, Oppenheimer raised their price target on Tyler Technologies from $550.00 to $625.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $591.77.

Tyler Technologies Stock Up 0.9 %

The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a fifty day moving average price of $581.46 and a 200 day moving average price of $515.81. The firm has a market capitalization of $25.59 billion, a price-to-earnings ratio of 122.81, a PEG ratio of 5.42 and a beta of 0.78.

Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.40 EPS for the quarter, beating the consensus estimate of $2.34 by $0.06. The business had revenue of $540.98 million during the quarter, compared to analysts’ expectations of $541.01 million. Tyler Technologies had a return on equity of 9.66% and a net margin of 10.24%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the firm earned $1.53 EPS. As a group, sell-side analysts expect that Tyler Technologies, Inc. will post 7.21 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO H Lynn Moore, Jr. sold 6,250 shares of Tyler Technologies stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $576.49, for a total transaction of $3,603,062.50. Following the completion of the transaction, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at approximately $43,236,750. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO H Lynn Moore, Jr. sold 6,250 shares of Tyler Technologies stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $576.49, for a total value of $3,603,062.50. Following the completion of the sale, the chief executive officer now owns 75,000 shares of the company’s stock, valued at $43,236,750. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel M. Pope sold 275 shares of Tyler Technologies stock in a transaction on Monday, July 29th. The shares were sold at an average price of $578.26, for a total value of $159,021.50. Following the completion of the sale, the director now directly owns 3,218 shares of the company’s stock, valued at approximately $1,860,840.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,375 shares of company stock valued at $17,049,739. 2.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TYL. Creative Planning lifted its stake in shares of Tyler Technologies by 2.9% in the third quarter. Creative Planning now owns 24,051 shares of the technology company’s stock worth $14,039,000 after acquiring an additional 686 shares in the last quarter. Sapient Capital LLC grew its holdings in shares of Tyler Technologies by 375.6% during the third quarter. Sapient Capital LLC now owns 2,754 shares of the technology company’s stock valued at $1,608,000 after purchasing an additional 2,175 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Tyler Technologies during the third quarter valued at approximately $270,000. Westwind Capital grew its holdings in shares of Tyler Technologies by 7,614.0% during the third quarter. Westwind Capital now owns 46,361 shares of the technology company’s stock valued at $27,062,000 after purchasing an additional 45,760 shares during the last quarter. Finally, Tobam bought a new position in shares of Tyler Technologies during the third quarter valued at approximately $78,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

About Tyler Technologies

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.