Tyler Technologies (NYSE:TYL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Saturday.

According to Zacks, “Tyler Technologies, Inc. is engaged in providing integrated information management solutions and services to the public sector. It provides software products and services; professional IT services; subscription-based services; property appraisal outsourcing services. Its products generally automate three major functional areas (1) financial management and education, (2) courts and justice and (3) property appraisal and tax. Tyler operates in two reportable segments: Enterprise Software Solutions (ESS) and Appraisal and Tax Software Solutions and Services. The Enterprise Software Solutions (ESS) segment provides software systems to municipal and county governments and schools. The Appraisal and Tax Software Solutions and Services segment provides systems and software that automate the appraisal and assessment of real and personal property as well as property appraisal outsourcing services for local governments and taxing authorities. Tyler Technologies, Inc. is headquartered in Dallas, Texas. “

Several other equities analysts have also recently commented on TYL. BidaskClub raised shares of Tyler Technologies from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 23rd. B. Riley reissued a “neutral” rating and set a $184.00 target price on shares of Tyler Technologies in a research note on Thursday, October 26th. Northland Securities reissued a “buy” rating and set a $200.00 target price on shares of Tyler Technologies in a research note on Thursday, September 21st. Maxim Group set a $197.00 target price on shares of Tyler Technologies and gave the company a “buy” rating in a research note on Thursday, October 26th. Finally, KeyCorp reissued a “buy” rating and set a $180.00 target price on shares of Tyler Technologies in a research note on Friday, October 6th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $193.00.

Shares of Tyler Technologies (NYSE:TYL) opened at $181.79 on Friday. The firm has a market cap of $6,871.96, a PE ratio of 56.11 and a beta of 0.98. Tyler Technologies has a 52-week low of $139.61 and a 52-week high of $183.98.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, October 25th. The technology company reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.03. The firm had revenue of $214.15 million for the quarter, compared to analysts’ expectations of $216.80 million. Tyler Technologies had a net margin of 16.34% and a return on equity of 12.81%. Tyler Technologies’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the company earned $0.94 EPS. sell-side analysts expect that Tyler Technologies will post 3.28 EPS for the current year.

In other news, CEO John S. Marr, Jr. sold 10,000 shares of Tyler Technologies stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $173.35, for a total value of $1,733,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Brian K. Miller sold 5,000 shares of Tyler Technologies stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $171.63, for a total transaction of $858,150.00. Following the completion of the transaction, the vice president now directly owns 53,194 shares in the company, valued at approximately $9,129,686.22. The disclosure for this sale can be found here. Insiders sold a total of 189,532 shares of company stock worth $32,928,606 in the last ninety days. Corporate insiders own 10.30% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in TYL. Janus Henderson Group PLC grew its stake in shares of Tyler Technologies by 327.0% in the 2nd quarter. Janus Henderson Group PLC now owns 1,865,432 shares of the technology company’s stock worth $327,700,000 after purchasing an additional 1,428,513 shares during the last quarter. Koch Industries Inc. grew its stake in shares of Tyler Technologies by 18,128.1% in the 2nd quarter. Koch Industries Inc. now owns 401,747 shares of the technology company’s stock worth $399,000 after purchasing an additional 399,543 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Tyler Technologies by 40.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,027,797 shares of the technology company’s stock worth $180,554,000 after purchasing an additional 294,817 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Tyler Technologies by 71.8% in the 2nd quarter. Franklin Resources Inc. now owns 536,791 shares of the technology company’s stock worth $94,299,000 after purchasing an additional 224,410 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Tyler Technologies by 5.7% in the 2nd quarter. Vanguard Group Inc. now owns 2,804,393 shares of the technology company’s stock worth $492,648,000 after purchasing an additional 150,879 shares during the last quarter. 93.36% of the stock is currently owned by institutional investors.

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About Tyler Technologies

Tyler Technologies, Inc is a provider of information management solutions and services for the public sector, with a focus on local governments. The Company operates through two segments: Enterprise Software (ES) segment and The Appraisal and Tax (A&T) segment. ES segment provides municipal and county governments and schools with software systems and services for information technology and automation needs that includes back-office functions, such as financial management, courts and justice processes, public safety, planning regulatory and maintenance, and land and vital records management.

Analyst Recommendations for Tyler Technologies (NYSE:TYL)

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