Tyler Technologies Inc. (TYL) Given Average Rating of “Buy” by Analysts
Tyler Technologies Inc. (NYSE:TYL) has received an average rating of “Buy” from the sixteen research firms that are covering the firm. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $179.09.
Several research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, September 29th. Pacific Crest reaffirmed a “buy” rating and issued a $178.00 target price (up previously from $176.00) on shares of Tyler Technologies in a research note on Tuesday, September 13th. KeyCorp raised their target price on shares of Tyler Technologies from $176.00 to $178.00 and gave the company an “overweight” rating in a research note on Tuesday, September 13th. B. Riley reaffirmed a “buy” rating and issued a $176.00 target price on shares of Tyler Technologies in a research note on Wednesday, August 3rd. Finally, Benchmark Co. increased their price target on shares of Tyler Technologies from $160.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, July 29th.
In other news, Director Luther King, Jr. sold 500 shares of Tyler Technologies stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $160.40, for a total value of $80,200.00. Following the sale, the director now directly owns 72,864 shares in the company, valued at $11,687,385.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dustin R. Womble sold 35,000 shares of Tyler Technologies stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $162.73, for a total transaction of $5,695,550.00. The disclosure for this sale can be found here. 12.00% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC increased its stake in Tyler Technologies by 5.1% in the first quarter. Geode Capital Management LLC now owns 212,497 shares of the company’s stock worth $27,329,000 after buying an additional 10,249 shares during the period. Goldman Sachs Group Inc. increased its stake in Tyler Technologies by 66.4% in the first quarter. Goldman Sachs Group Inc. now owns 378,280 shares of the company’s stock worth $48,651,000 after buying an additional 150,951 shares during the period. Tiverton Asset Management LLC increased its stake in Tyler Technologies by 9.7% in the first quarter. Tiverton Asset Management LLC now owns 82,248 shares of the company’s stock worth $10,578,000 after buying an additional 7,248 shares during the period. Quadrature Capital Ltd acquired a new stake in Tyler Technologies during the first quarter worth about $832,000. Finally, State Street Corp increased its stake in Tyler Technologies by 1.6% in the first quarter. State Street Corp now owns 1,073,305 shares of the company’s stock worth $138,031,000 after buying an additional 16,894 shares during the period. Institutional investors own 90.95% of the company’s stock.
Tyler Technologies (NYSE:TYL) traded down 0.65% during midday trading on Thursday, hitting $169.09. 80,411 shares of the stock were exchanged. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 98.54 and a beta of 1.28. The company has a 50 day moving average price of $169.61 and a 200 day moving average price of $157.09. Tyler Technologies has a one year low of $118.16 and a one year high of $184.01.
Tyler Technologies (NYSE:TYL) last issued its earnings results on Wednesday, July 27th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.03. The company had revenue of $188.97 million for the quarter, compared to analyst estimates of $192.12 million. Tyler Technologies had a net margin of 9.54% and a return on equity of 13.07%. The company’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 EPS. Equities analysts anticipate that Tyler Technologies will post $3.48 EPS for the current year.
Tyler Technologies Company Profile
Tyler Technologies, Inc is a provider of information management solutions and services for the public sector, with a focus on local governments. The Company provides professional information technology (IT) services to its clients, including software and hardware installation, data conversion, training and product modifications.
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