Zacks Investment Research lowered shares of Tyler Technologies (NYSE:TYL) from a hold rating to a sell rating in a research note published on Wednesday.

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. “

A number of other research firms have also recently weighed in on TYL. B. Riley cut shares of Tyler Technologies from a buy rating to a neutral rating and set a $184.00 price objective for the company. in a report on Friday, October 27th. Piper Jaffray Companies reaffirmed a buy rating and issued a $200.00 price objective on shares of Tyler Technologies in a report on Friday, October 27th. Needham & Company LLC reaffirmed a buy rating on shares of Tyler Technologies in a report on Tuesday, October 24th. KeyCorp reaffirmed a buy rating and issued a $180.00 price objective on shares of Tyler Technologies in a report on Friday, October 6th. Finally, Citigroup began coverage on shares of Tyler Technologies in a report on Friday, September 22nd. They issued a buy rating and a $200.00 price objective for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Tyler Technologies currently has an average rating of Buy and an average target price of $193.00.

Tyler Technologies (TYL) opened at $177.05 on Wednesday. Tyler Technologies has a fifty-two week low of $142.40 and a fifty-two week high of $188.21. The firm has a market cap of $6,690.00, a price-to-earnings ratio of 45.51 and a beta of 0.97.

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

In other news, CFO Brian K. Miller sold 12,000 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $179.75, for a total transaction of $2,157,000.00. Following the completion of the sale, the chief financial officer now owns 56,694 shares of the company’s stock, valued at $10,190,746.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President H Lynn Moore, Jr. sold 6,000 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $179.57, for a total transaction of $1,077,420.00. Following the sale, the president now directly owns 61,278 shares of the company’s stock, valued at approximately $11,003,690.46. The disclosure for this sale can be found here. Insiders have sold 352,207 shares of company stock valued at $63,349,769 in the last three months. Corporate insiders own 10.30% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Tyler Technologies by 0.6% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,925 shares of the technology company’s stock valued at $865,000 after acquiring an additional 30 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Tyler Technologies by 8.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,412 shares of the technology company’s stock valued at $248,000 after acquiring an additional 114 shares in the last quarter. Stifel Financial Corp grew its stake in Tyler Technologies by 1.9% during the 2nd quarter. Stifel Financial Corp now owns 7,291 shares of the technology company’s stock valued at $1,279,000 after acquiring an additional 133 shares in the last quarter. Stephens Inc. AR grew its stake in Tyler Technologies by 5.9% during the 2nd quarter. Stephens Inc. AR now owns 2,923 shares of the technology company’s stock valued at $513,000 after acquiring an additional 162 shares in the last quarter. Finally, D.A. Davidson & CO. grew its stake in Tyler Technologies by 13.3% during the 2nd quarter. D.A. Davidson & CO. now owns 1,391 shares of the technology company’s stock valued at $244,000 after acquiring an additional 163 shares in the last quarter. 91.75% of the stock is owned by institutional investors and hedge funds.

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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 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.

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