Tyler Technologies (NYSE:TYL) Sets New 12-Month High – Still a Buy?

Tyler Technologies, Inc. (NYSE:TYL) reached a new 52-week high on Tuesday . The company traded as high as $635.40 and last traded at $635.19, with a volume of 246743 shares traded. The stock had previously closed at $624.19.

Wall Street Analysts Forecast Growth

TYL has been the subject of a number of research reports. The Goldman Sachs Group reissued a “buy” rating and set a $627.00 price objective on shares of Tyler Technologies in a research report on Friday, September 13th. DA Davidson increased their target price on shares of Tyler Technologies from $525.00 to $550.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Barclays upped their price target on Tyler Technologies from $700.00 to $705.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. JMP Securities upped their target price on Tyler Technologies from $580.00 to $700.00 and gave the stock a “market outperform” rating in a research report on Friday, October 25th. Finally, Robert W. Baird lifted their price target on shares of Tyler Technologies from $625.00 to $700.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $642.62.

Tyler Technologies Price Performance

The stock has a market cap of $27.19 billion, a P/E ratio of 114.10, a price-to-earnings-growth ratio of 5.52 and a beta of 0.77. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. The company’s fifty day simple moving average is $595.99 and its 200-day simple moving average is $553.15.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. Tyler Technologies had a return on equity of 9.79% and a net margin of 11.39%. The company had revenue of $543.34 million for the quarter, compared to the consensus estimate of $547.34 million. During the same period in the previous year, the business earned $1.66 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, sell-side analysts forecast that Tyler Technologies, Inc. will post 7.36 EPS for the current year.

Insider Activity at Tyler Technologies

In other Tyler Technologies news, CFO Brian K. Miller sold 2,500 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $586.97, for a total value of $1,467,425.00. Following the sale, the chief financial officer now directly owns 11,950 shares in the company, valued at approximately $7,014,291.50. This trade represents a 17.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Glenn A. Carter sold 3,350 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $582.57, for a total transaction of $1,951,609.50. Following the completion of the sale, the director now owns 2,654 shares of the company’s stock, valued at approximately $1,546,140.78. This represents a 55.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,600 shares of company stock valued at $16,412,595 in the last ninety days. Insiders own 1.50% of the company’s stock.

Institutional Trading of Tyler Technologies

A number of institutional investors have recently modified their holdings of the company. Waldron Private Wealth LLC grew its stake in shares of Tyler Technologies by 3.5% during the 2nd quarter. Waldron Private Wealth LLC now owns 716 shares of the technology company’s stock worth $360,000 after acquiring an additional 24 shares in the last quarter. FWG Holdings LLC raised its holdings in Tyler Technologies by 3.1% during the third quarter. FWG Holdings LLC now owns 910 shares of the technology company’s stock worth $551,000 after acquiring an additional 27 shares in the last quarter. Industrial Alliance Investment Management Inc. boosted its holdings in shares of Tyler Technologies by 4.4% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 693 shares of the technology company’s stock valued at $295,000 after buying an additional 29 shares during the last quarter. George Kaiser Family Foundation lifted its stake in Tyler Technologies by 0.7% in the second quarter. George Kaiser Family Foundation now owns 4,177 shares of the technology company’s stock valued at $2,100,000 after acquiring an additional 29 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Tyler Technologies by 2.3% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,377 shares of the technology company’s stock worth $804,000 after purchasing an additional 31 shares during the last quarter. 93.30% of the stock is currently owned by institutional investors.

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.