Tyler Technologies, Inc. (TYL) Receives Average Recommendation of “Buy” from Brokerages

Tyler Technologies, Inc. (NYSE:TYL) has been assigned a consensus rating of “Buy” from the twelve ratings firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $207.90.

A number of equities analysts recently commented on the company. Robert W. Baird assumed coverage on Tyler Technologies in a report on Tuesday. They set an “outperform” rating and a $240.00 target price for the company. DA Davidson assumed coverage on Tyler Technologies in a report on Wednesday, March 7th. They set a “neutral” rating and a $190.00 target price for the company. Evercore ISI restated a “buy” rating and set a $210.00 target price on shares of Tyler Technologies in a report on Friday, February 23rd. Needham & Company LLC restated a “buy” rating and set a $235.00 target price on shares of Tyler Technologies in a report on Friday, February 23rd. Finally, Maxim Group set a $220.00 target price on Tyler Technologies and gave the company a “buy” rating in a report on Thursday, February 22nd.

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In related news, VP Brian K. Miller sold 5,000 shares of the company’s stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $210.54, for a total value of $1,052,700.00. Following the sale, the vice president now directly owns 55,114 shares of the company’s stock, valued at $11,603,701.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO John S. Marr, Jr. sold 41,000 shares of the company’s stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $209.05, for a total value of $8,571,050.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 114,582 shares of company stock worth $23,816,504. 10.30% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. grew its stake in Tyler Technologies by 0.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 28,057 shares of the technology company’s stock worth $4,968,000 after purchasing an additional 262 shares during the period. Ashford Capital Management Inc. grew its stake in Tyler Technologies by 0.6% in the fourth quarter. Ashford Capital Management Inc. now owns 52,683 shares of the technology company’s stock worth $9,328,000 after purchasing an additional 300 shares during the period. Eqis Capital Management Inc. grew its stake in Tyler Technologies by 5.5% in the fourth quarter. Eqis Capital Management Inc. now owns 6,173 shares of the technology company’s stock worth $1,093,000 after purchasing an additional 324 shares during the period. D.A. Davidson & CO. grew its stake in shares of Tyler Technologies by 26.2% in the third quarter. D.A. Davidson & CO. now owns 1,756 shares of the technology company’s stock worth $306,000 after acquiring an additional 365 shares during the last quarter. Finally, Mutual of America Capital Management LLC grew its stake in shares of Tyler Technologies by 1.3% in the fourth quarter. Mutual of America Capital Management LLC now owns 28,624 shares of the technology company’s stock worth $5,068,000 after acquiring an additional 367 shares during the last quarter. 94.47% of the stock is currently owned by institutional investors.

Shares of Tyler Technologies (NYSE:TYL) opened at $208.68 on Friday. Tyler Technologies has a 12-month low of $152.00 and a 12-month high of $213.38. The firm has a market capitalization of $7,930.79, a P/E ratio of 50.04 and a beta of 0.97.

Tyler Technologies (NYSE:TYL) last announced its earnings results on Wednesday, February 21st. The technology company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. The company had revenue of $217.85 million during the quarter, compared to the consensus estimate of $220.56 million. Tyler Technologies had a return on equity of 12.49% and a net margin of 19.50%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 earnings per share. equities analysts expect that Tyler Technologies will post 3.87 earnings per share for the current fiscal year.

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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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