Tyler Technologies, Inc. (NYSE:TYL) Receives $253.33 Average PT from Brokerages

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Shares of Tyler Technologies, Inc. (NYSE:TYL) have received an average recommendation of “Buy” from the eleven brokerages that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $253.33.

Several analysts have recently weighed in on the company. Northland Securities restated a “buy” rating on shares of Tyler Technologies in a research note on Thursday, August 1st. Benchmark increased their price target on shares of Tyler Technologies from $235.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. ValuEngine raised shares of Tyler Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, July 2nd. Zacks Investment Research raised shares of Tyler Technologies from a “sell” rating to a “hold” rating in a research report on Friday, July 5th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Tyler Technologies in a research report on Thursday, August 1st.

In other Tyler Technologies news, Director Daniel M. Pope sold 1,215 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $240.00, for a total value of $291,600.00. Following the transaction, the director now owns 2,314 shares of the company’s stock, valued at $555,360. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Brian K. Miller sold 11,109 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $251.89, for a total transaction of $2,798,246.01. Following the completion of the transaction, the vice president now directly owns 49,485 shares in the company, valued at approximately $12,464,776.65. The disclosure for this sale can be found here. Insiders have sold 127,704 shares of company stock worth $32,713,354 in the last ninety days. Corporate insiders own 4.40% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Envestnet Asset Management Inc. lifted its holdings in Tyler Technologies by 29.3% in the second quarter. Envestnet Asset Management Inc. now owns 59,202 shares of the technology company’s stock worth $12,789,000 after acquiring an additional 13,400 shares during the last quarter. Waratah Capital Advisors Ltd. bought a new position in Tyler Technologies in the second quarter worth about $3,792,000. Capital Investment Services of America Inc. lifted its holdings in Tyler Technologies by 13.5% in the second quarter. Capital Investment Services of America Inc. now owns 57,864 shares of the technology company’s stock worth $12,500,000 after acquiring an additional 6,895 shares during the last quarter. California State Teachers Retirement System lifted its holdings in Tyler Technologies by 0.4% in the first quarter. California State Teachers Retirement System now owns 60,436 shares of the technology company’s stock worth $12,353,000 after acquiring an additional 237 shares during the last quarter. Finally, M&T Bank Corp lifted its holdings in Tyler Technologies by 23.9% in the second quarter. M&T Bank Corp now owns 1,484 shares of the technology company’s stock worth $320,000 after acquiring an additional 286 shares during the last quarter. 87.69% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Tyler Technologies stock traded down $0.98 during trading hours on Wednesday, hitting $258.32. 214,034 shares of the company’s stock traded hands, compared to its average volume of 191,924. The stock has a 50 day simple moving average of $254.66 and a 200-day simple moving average of $225.49. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.02. The company has a market cap of $9.97 billion, a PE ratio of 69.07 and a beta of 0.92. Tyler Technologies has a twelve month low of $173.26 and a twelve month high of $262.99.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, July 31st. The technology company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.05. The company had revenue of $275.10 million during the quarter, compared to the consensus estimate of $274.88 million. Tyler Technologies had a return on equity of 11.44% and a net margin of 12.96%. The company’s revenue was up 16.5% on a year-over-year basis. During the same period last year, the firm earned $1.18 earnings per share. As a group, equities research analysts predict that Tyler Technologies will post 4.19 EPS for the current year.

About Tyler Technologies

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. The company operates in two segments, Enterprise Software, and Appraisal and Tax. It offers financial management solutions, including modular fund accounting systems for government agencies or not-for-profit entities; utility billing systems for the billing and collection of metered and non-metered services; products to automate city and county functions, such as municipal courts, parking tickets, equipment and project costing, animal and business licenses, permits and inspections, code enforcement, citizen complaint tracking, ambulance billing, fleet maintenance, and cemetery records management; and student information and transportation solutions for K-12 schools.

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Analyst Recommendations for Tyler Technologies (NYSE:TYL)

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