Needham & Company LLC began coverage on shares of GTY Technology (NASDAQ:GTYH) in a research report released on Tuesday, Benzinga reports. The brokerage issued a buy rating and a $10.00 target price on the stock.

Separately, ValuEngine downgraded Universal Electronics from a strong-buy rating to a buy rating in a research report on Thursday, June 6th.

Shares of GTYH stock opened at $6.74 on Tuesday. The business’s fifty day simple moving average is $7.75. GTY Technology has a 1-year low of $6.16 and a 1-year high of $12.24. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.01.

GTY Technology (NASDAQ:GTYH) last announced its quarterly earnings data on Monday, May 13th. The company reported ($0.83) earnings per share for the quarter. The company had revenue of $3.03 million during the quarter.

Institutional investors and hedge funds have recently bought and sold shares of the business. Stifel Financial Corp purchased a new stake in GTY Technology during the fourth quarter worth $779,000. Keeley Teton Advisors LLC purchased a new stake in GTY Technology during the first quarter worth $5,365,000. Finally, Janus Henderson Group PLC boosted its position in GTY Technology by 101.5% during the first quarter. Janus Henderson Group PLC now owns 3,301,916 shares of the company’s stock worth $29,057,000 after purchasing an additional 1,663,444 shares in the last quarter. Institutional investors own 22.92% of the company’s stock.

GTY Technology Company Profile

GTY Technology Holdings Inc provides cloud-based suite of solutions for state and local governments in North America. The company develops software technologies for the procurement and vendor or supplier sourcing industry in government, public sector, and various highly-regulated commercial vertical markets; content, digital, and integrated payment services via a software-as-a-service platform for government agencies and utility companies.

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