ValuEngine upgraded shares of Tyler Technologies (NYSE:TYL) from a hold rating to a buy rating in a research report sent to investors on Wednesday.
Other equities analysts also recently issued reports about the stock. Maxim Group increased their price target on shares of Tyler Technologies from $197.00 to $220.00 and gave the stock a buy rating in a research note on Friday, February 16th. Zacks Investment Research raised shares of Tyler Technologies from a hold rating to a buy rating and set a $233.00 price target for the company in a research note on Wednesday, March 21st. Evercore ISI reissued a buy rating and issued a $210.00 price target on shares of Tyler Technologies in a research note on Friday, February 23rd. Piper Jaffray reissued an overweight rating and issued a $220.00 price target on shares of Tyler Technologies in a research note on Tuesday, January 16th. Finally, Robert W. Baird began coverage on shares of Tyler Technologies in a research note on Tuesday, March 13th. They issued an outperform rating and a $240.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $210.27.
Tyler Technologies stock opened at $206.66 on Wednesday. The stock has a market cap of $7,913.73, a PE ratio of 61.96 and a beta of 0.91. Tyler Technologies has a 1-year low of $152.76 and a 1-year high of $214.33.
Tyler Technologies (NYSE:TYL) last posted its earnings results on Wednesday, February 21st. The technology company reported $1.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.03. Tyler Technologies had a net margin of 19.50% and a return on equity of 12.49%. The company had revenue of $217.85 million during the quarter, compared to analyst estimates of $220.56 million. During the same period in the prior year, the business posted $0.90 earnings per share. Tyler Technologies’s revenue for the quarter was up 12.7% on a year-over-year basis. research analysts predict that Tyler Technologies will post 3.87 EPS for the current year.
In other Tyler Technologies news, Director Luther King, Jr. sold 23,350 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $202.47, for a total transaction of $4,727,674.50. Following the completion of the transaction, the director now owns 72,864 shares of the company’s stock, valued at $14,752,774.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John S. Marr, Jr. sold 41,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $209.05, for a total transaction of $8,571,050.00. The disclosure for this sale can be found here. Insiders have sold 114,582 shares of company stock valued at $23,816,504 in the last ninety days. Insiders own 10.30% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Dynamic Capital Management Ltd bought a new position in shares of Tyler Technologies during the fourth quarter valued at approximately $1,110,000. Cubist Systematic Strategies LLC bought a new position in shares of Tyler Technologies during the third quarter valued at approximately $444,000. Parametric Portfolio Associates LLC increased its stake in shares of Tyler Technologies by 6.4% during the third quarter. Parametric Portfolio Associates LLC now owns 76,513 shares of the technology company’s stock valued at $13,338,000 after purchasing an additional 4,600 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Tyler Technologies by 37.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,045 shares of the technology company’s stock valued at $362,000 after purchasing an additional 552 shares in the last quarter. Finally, Personal Capital Advisors Corp increased its stake in shares of Tyler Technologies by 6.6% during the fourth quarter. Personal Capital Advisors Corp now owns 116,176 shares of the technology company’s stock valued at $20,569,000 after purchasing an additional 7,205 shares in the last quarter. 94.47% of the stock is owned by institutional investors and hedge funds.
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About Tyler Technologies
Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. It operates through two segments, Enterprise Software, and Appraisal and Tax. The company's financial management solutions include modular fund accounting systems for government agencies or not-for-profit entities; and utility billing systems for the billing and collection of metered and non-metered services.
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